Thursday, January 23, 2014

Your Essential Guide to the G60 and Pensions

English: I found this too cute to miss, a mome...
If you’re trying to find an Independent Financial Adviser to help you with your pension, but you’re not sure who to choose, this quick article is the most important thing you’ll read today. Why? Because it’s going to talk about the most important word in pension: G60.

What Is The G60?

The G60 is a qualification issued by the Chartered Insurance Institute (CII), the organization that regulates the elite group of 300 Chartered Financial Firms in the UK. And the description of the G60 on the official CII syllabus is that it is a qualification designed to:

Develop in the candidate, who has already reached the standard of the FPC, a knowledge of pensions and pension transfers and an ability to advise individual clients on all aspects of pension provision. This paper is available on a stand-alone basis for candidates wishing to demonstrate specialist knowledge and skills in pensions and pensions transfers.

The G60 is a level 5 qualification which helps Financial Advisers to meet the requirements of the Financial Services Authority (FSA) for higher competence standards for pension planning. The FSA takes the handling of your pension so seriously that all pension transfer specialists have to have passed this exam before being allowed to practice in this role.

How Does The G60 Help With Managing Your Pension?

Here are just a few of the numerous G60 modules that are used to train financial advisers in the highly specialised area of pensions:

· Pensions planning and compliance

· How to estimate a client’s financial needs in retirement

· The relationship between Retail Prices Index, investment yields and trends, in particular gift vs equity returns

· The legislation covering pension arrangements including the duties and responsibilities of trustees, the Pensions Act 1995, the Financial Services and Markets Act 2000 and European Union Law

· Interaction of State benefits with occupational pension scheme benefits

· The role and scope of OPRA

· The principles of ‘earmarking’, ‘offsetting’ and ‘pension sharing’ on divorce

· How early retirement pensions are calculated and how the benefits are paid in the event of ill health

· How and when property can be purchased by a SIPP (Self-Invested Personal Pension)

· How phased retirement works

The G60 has many other areas of rigorous study that members of our own team have successfully battled through in order to provide excellent advice to our clients regarding their pensions.

Thankfully, you don’t have to go through the same process just to get excellent advice. But what you must do is make sure that when it comes to choosing a financial adviser to handle your pension, the most important word you remember is: G60.

Author: When planning for the future, the assistance of independent financial advisers in pension planning can play a crucial part in achieving your goals. Bartholomew Hawkins has an intricate understanding of a wide variety of investment methods which can be tailored to suit the specifics of an individual’s situation. For more information call 01291 40 80 80 today.

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