According to new research from the Pensions Management Institute (‘PMI’), professional qualifications for trustees are absolutely crucial, with nine out of ten respondents* stating that they need to hold a relevant professional qualification.
Whilst there are a multitude of different qualification and training options on offer both for trustees and other pensions professionals, 65% (almost two thirds) of employers will specifically look to work with people who hold PMI qualifications.
These findings are the final part of research to be published by the PMI from its second Career Development Survey*. Conducted in November 2015, the PMI was able to capture a wide range of views from over 450 of its members on career development alongside wider issues within the retirement savings industry.
The survey also found that PMI qualifications are generally held in extremely high regard, with four out of five respondents saying that they improve employability, whilst 65% said that the qualifications have assisted in their career.
In addition, over three quarters of respondents felt that PMI qualifications are seen to increase technical skills and knowledge, while 60% felt that they provide members with a set of transferable skills. A large number of respondents (73%) felt that they have higher expectations of those who have attained PMI qualifications than those who have not.
Kevin LeGrand, PMI President said: “Trustees quite literally have the future retirement prospects of members in their hands. It’s little wonder that such high importance is placed on somehow validating that they have the right knowledge and competences to conduct their work as a trustee at the highest possible standard.
“While there are a multitude of different qualifications, training programs and courses available for people within our industry, PMI qualifications are held in extremely high regard, not just for trustees but also for anyone looking to differentiate themselves in a competitive workplace.”