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The Pensions Management Institute's new membership and qualification structure, PMI Pathways, is now in effect to ensure the organisation is more aligned with a wider range of pension career aspirations and improve inclusion.
The PMI said last summer that it had a positive response about the new structure to its member consultation in 2022 and would go ahead with the proposals. At the time it said it still wanted to address some suggested improvements, as well as communicate widely with members.
“Following positive feedback from our membership consultation, we’re excited to launch our new pathways. These are designed to make our membership and qualifications simpler to access for all,” said Gareth Tancred, chief executive of the PMI.
Five pathways have been introduced to make PMI qualifications more streamlined to a specific career path and should allow members to undertake a group of units or qualifications that fit their career goals, he added.
“We want to reassure members and employers the PMI’s high standards will still need to be met at all levels. The qualifications will not be made any easier and advanced diploma exams will continue to be mapped to the nationally recognised qualifications framework,” said Tancred.
Under the new PMI Pathways, membership will be graded into four levels: student, professional, associate and fellow. The new professional grade combines the existing certificate and diploma grades.
The five separate routes to fellowship, which the PMI hopes will improve inclusion, are:
retirement provision;
pensions admin (technical);
pensions trusteeship;
pensions benefits; and
pensions admin (practical).
Under the new pathways, all learners will start their journey as student members. The successful completion of a unit and/or qualification will make these learners eligible for a professional membership. Completion of all units and qualifications under a pathway, and at least two years of professional membership, will then allow members to upgrade to an associate membership. After five years of continuous associate membership with CPD and demonstrable experience, members can apply for fellowship.
What is your view about the change in membership and qualification structure?Tim MiddletonMichael Clark
