Pension Scheme Trusteeship
Are you a trustee of a pension scheme? If so, there are new requirements you really need to be aware of.
| Award Name | Special Purpose Certificate (Level 7 NFQ) |
|---|---|
| NFQ Classification | Special Purpose |
| Awarding Body | Atlantic Technological University |
| NFQ Level | Level 7 NFQ |
| Award Name | NFQ Classification | Awarding Body | NFQ Level |
|---|---|---|---|
| Special Purpose Certificate (Level 7 NFQ) | Special Purpose | Atlantic Technological University | Level 7 NFQ |
Entry Requirements
Minimum Entry Requirements
Institution
LIA
Leaving Cert or Equivalent
5 x O6/H7 or higher
Leaving Cert English
Minimum of Grade O6/H7
Leaving Cert Maths
Minimum of Grade O6/H7
RPL
Yes – see below
Alternative Qualifications
Yes – see below
English Language
IELTS 5.5
or
An equivalent qualification at the same level (e.g. A levels; Highers/Advanced Highers (Scotland), International Baccalaureate; European Baccalaureate etc).
Any QQI level 5/6 FE qualification is acceptable.
All applicants are required to have competency in English endorsed by the Irish Leaving Certificate or other equivalent award.
All learners are required to be proficient in English. Where a candidate’s mother tongue is not English, he or she is required to provide a proof of proficiency in the English language through satisfactory performance on an internationally recognised test (e.g. IELTS 5.5) or other similar English Language qualifications.
Mature applicants who do not have a Leaving Certificate will be assessed for entry based on work experience along with a demonstrated commitment towards the academic requirements for the programme. This may be assessed using a written application from the candidate and/or by interview. Such learners will have relevant employment and will have access to the IT facilities necessary to participate in the programme. RPL (Recognition of Prior Learning) applicants will be required to complete a personal statement which addresses how the applicant has met the minimum standard by reference to QQI’s Business Standards at Level 6.
All other applicants, who do not meet these criteria, will be dealt with on their individual merits and on a case-by-case basis. Decisions made under this mechanism will not set a precedent for adjudicating similar applications.
Further information
21 July 2024 Closing Date for Registrations
Next Exam September 2024
Exam Timetable can be found at https://www.lia.ie/images/uploads/resources/Exam_Timetable_2023-2024.pdf
Module Pricing
The registration fee for each module is €500 and includes examination entry, textbook, and a suite of learning resources provided in our student log-in area such as your study guide, pre-recorded webinars and more.
Study Fee
If you are not already paying an annual LIA membership fee, you are required to pay one study fee (€100) in addition to your first module fee. This covers you for 12 months study i.e. you can enrol on any number of modules during that time without being charged the study fee again. Those who hold annual membership with LIA are not required to pay the study fee if enrolling on modules.
The Pensions Authority has just published its Code of Practice for trustees of occupational pension schemes and trust RACs. This Code includes a requirement that at least one trustee on the board, or one director of a sole corporate trustee meets new minimum education requirements.
LIA’s PTP (Certificate in DC Pension Scheme Trusteeship) is one of only two qualifications named by the Pensions Authority as meeting these minimum requirements. This course aims to empower these individuals to gain and demonstrate the necessary knowledge, competence and skills to manage their scheme in accordance with the scheme rules, general trust law, and relevant provisions of the Pensions Act and associated regulations.
To hold the PTP designation with LIA, you must complete an online course consisting of two modules* offered by LIA’s academic education partner, Atlantic Technological University (ATU). All our courses are provided online via distance and self-directed learning, meaning you can study from home or work before sitting your exams online. Once completed, you can apply to LIA for the PTP designation and will receive the Certificate in DC Pension Scheme Trusteeship by Atlantic Technological University (ATU) – a 10 ECTS (European Credit Transfer and Accumulation System) qualification at level 7 of the National Framework of Qualifications.
*If you hold the QFA you can apply for an exemption from the Principles module, resulting in just one module to be successfully completed to obtain the PTP designation. In this instance the underlying academic award is not applicable.
With the PTP you will be equipped to:
illustrate the need to replace earned income in retirement, understand the structures and products available for accumulating retirement benefits, and appraise the roles of key parties involved in pension provision and the impact of regulatory requirements on their activities.
demonstrate an understanding of the principles of trust law and the legal and regulatory obligations of the trustees of a defined contribution occupational pension scheme, identify the general administration and management of a
defined contribution occupational pension scheme, assess the role of advisers in relation to appropriate investment strategies of defined contribution occupational pension schemes, and identify the application of good governance of
defined contribution occupational pension schemes.
DC Pension Scheme Trustee Principles
DC Pension Scheme Trustee Practices
Exemption
Holders of the QFA designation, Associates and Fellows of the Society of Actuaries in Ireland and Members, Associates and Fellows of the IIPM will be entitled to apply for an exemption from sitting the DC Pension Scheme Trustee Principles module.
DC Pension Scheme Trustee Principles is a 1-hour-30-minute MCQ exam with 75 questions.
DC Pension Scheme Trustee Practices is a 2-hour MCQ exam with 100 questions.
Phone 01 456 3890
Email queries@lia.ie