Pension Transfers Course

Become a Pension Transfer Specialist

How to become a Pension Transfer Specialist

To become a Pension Transfer Specialist, candidates must first pass a professional level 6 qualification such as the LIBF Pension Transfers (PETR®) qualification.  A pension transfer can be defined as moving a safe guarded pension such as an occupational defined benefit (final salary) or defined contribution (money purchase) pension scheme and moving the benefits to a flexible benefit scheme such as a private pension. PETR® is a recognised professional qualification for any candidate that wants to provide UK pension transfer advice. UK private pensions are regulated by the Financial Conduct Authority (FCA) and occupational pensions are regulated by the Pensions Regulator, which requires all advisers to attain the relevant qualification before they can advise on pension transfers. The Pension Transfers (PETR®) qualification is a London Institute of Banking and Finance Regulated Qualifications Framework (RQF) Level 6 qualification. Candidates must already be level 4 qualified with the LIBF Diploma for Financial Advisers (DiPFA) or equivalent.

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Skills and role of a Pension Transfer specialist

A pension transfer specialist must use their skills and expertise to establish client suitability based on the information provided by the client. This is a highly specialised field that requires excellent numerical skills as well as communication. Current legislation requires that any person with a pension transfer value of over £30,000 must seek advice. As a pension transfer specialist, they will analyse the client’s circumstances to determine whether a pension transfer is in their best interest based on their age, circumstances, health and risk profile. The adviser will be required to perform an Appropriate Pension Transfer Analysis and recommend if they should go ahead with the transfer after factoring costs, returns required and charges. Advisers can work as either an employed adviser and get paid a salary or as self-employed where they can charge a fee paid by the customer.

Advisers role:

  • Meeting with clients to discuss their current circumstances to establish affordability, suitability and their attitude to risk.
  • Perform an Appropriate Pension Transfer Analysis and calculate the transfer value.
  • Establish whether a pension transfer is in the clients best interest based on the client details provided.
  • Explain complex financial information simplistically to clients.
  • Explain the features, benefits and risks of the advice recommended.

Adviser skills:

  • Excellent communication skills, both verbal and written.
  • Highly numerate.
  • Articulate.
  • Honest, trustworthy and ethical.
  • Sociable and friendly.
  • Hardworking and diligent in order to keep their knowledge up to date.
  • Organised – Advisers must be organised in order to maintain adequate records in order to remain FCA compliant.

The LIBF Pension Transfers (PETR®) is a professional qualification for any candidate who wants to work as a Pension Transfer Specialist. UK financial services are regulated by the Financial Conduct Authority (FCA). PETR® is a London Institute of Banking and Finance RQF Level 6 qualification and is recognised by the Financial Skills Partnership.


LIBF Course Info

Professionals who want to offer pension transfer advice must meet FCA requirements. The LIBF Level 6 Pension Transfers (PETR®) is an industry recognised qualification, providing individuals with the appropriate qualification to practise. The LIBF Level 6 Pension Transfers (PETR®) qualification provides the knowledge and the ability to offer advice and is designed to ensure that the adviser obtains the highest quality educational material and assessment opportunities. Pension transfers are a complex field and pension transfer advice is regulated by the FCA which requires certain standards to be upheld. The syllabus content covers the whole scope of pensions; covering the legal and regulatory framework, the pension transfer market, applying solutions based on client circumstances and suitability, also factors that influence the critical yield.  The qualification takes 5 months to complete. The price for the LIBF registration and exam is £490.00. There are 2 study sessions each year, one in February and one in August.

Overview: The Pension Transfers (PETR®) qualification is assessed via 1 module and provides the essential knowledge required to provide pension transfer advice. The qualification will cover the rules and regulations that support pension transfers and includes the advice process to meet client needs.

The exam consists of two sections:

  • Written examination: The structure of the assessment ensures that all aspects of the course content are subject to external examination. Section one is based on a pre-released case study and the second section is assessed via standalone written questions totaling 100 marks.
  • The exam is assessed via a 3 hour written exam on a specified date.
  • An additional 15 minutes reading time is provided before the examination time commences.
  • The pass mark is 40%. To pass the exam you must achieve the minimum pass mark.

Clarity Course

How Clarity FT run the course

Coming soon. We will offer the following study options.

Study Options

  • Class based 
  • Real Time Web based
  • Blended/distance 

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Study Options

Ways to Study

At Clarity Financial Training Ltd we are committed to offering you choice and convenience, so we have various study options to gain your LIBF qualification available for you to choose from. At Clarity FT we offer CeMAP® distance blended learning, as well as DipFA® In-House training and DipPP® one-to-one. If you prefer the traditional classroom setting you can select this option. If you live some distance from London and cannot commit to the overnight stay try our other methods, either our on-line web tutor which is run real time, blended/distance learning or in-house (subject to minimum numbers) or if you prefer the personal touch have an exclusive one to one session. Click on the following and read for yourself which option best suits you (find us here).

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