Pensions Authority Trustee Certification Training Course

Why select this training course?

The Pension Authority Trustee Certification Course by Rcademy comprises various topics that will help the present and future trustees easily acquire the pension authority trustee certificate. This Course is taught by highly experienced and knowledgeable professionals are Rcademy who have real-world experience. Moreover, you can understand complex regulations, control mechanisms, and documentation straightforwardly. The Rcademy’s professionals teach you practical and theoretical lessons so that you can perform better in the pension field despite tough competition.

Who is a trustee, and what are the attributes of a high-performing trustee board?

Any company or person who works separately from the employer is a trustee. The trustee’s function includes holding assets for the pension scheme’s beneficiaries in the Trust. Moreover, the trustees ensure that the pension schemes are appropriately managed and administered accurately so that the benefits of the beneficiaries can be secured. The trustee is a member of the trustee board. The trustee board has many attributes, and all the trustees inherit those features. The trustee board keeps complete information about the development in the pension field so that the pension scheme can never be affected negatively. They are fully aware of their responsibilities and duties, and the trustee board members also have strong skills in managing the problems of the service providers and advisers. Lastly, the trustee board knows human resourcing to its depth and hires highly skilled professionals permanently or project-based.

What is a pension authority?

The pension authority is a body that regulates pension schemes and supervises the pension and insurance. Moreover, it also conducts on-site inspections and off-site analyses to regulate pension and insurance service providers. The pension authority’s supervision process is based on the laws and regulations formulation and reviews these laws and regulations as required.

Rcademy professionals understand the market’s requirements, and they compile the Course as per the needs of the pension market. Before starting the Course, they review the course content and update it as required. The ultimate purpose of the Rcademy’s professionals is to deliver knowledge with necessary practical lessons.

Who should attend?

The Pension Authority Trustee Certification Training Course by Rcademy is ideal for:

• Trustees of the trust board
• Individual trustees
• Trust managers
• Trust advisers
• A corporate trustee acting as a company’s director
• Any professional who wants to pursue the field of pension and insurance
• Pensioner trustees
• Potential professional trustee
• Trustee of DC

What are the course objectives?

Upon successful completion of the Pension Authority Trustee Certification Course, the trainees will be able to:

• Understand the pension trustee schemes and the managing them
• Compile various documentation while taking the regulations into consideration
• Comprehend the insurance needs and pension scheme’s liabilities for the pensioner
• Learn about the pension schemes and which one is best for which kind of client
• Learn the skills of playing a crucial role in the Trust
• Acquire necessary information in the space of pension so that they can quickly receive the formal certificate
• Understand various situations that can cause problems in the future because of liabilities and learn how to compile control mechanisms for controlling the situation
• Know the roles and responsibilities of the trustees
• Understand the power of the trustees
• Apprehend the Trust and its legal background
• Learn how to disclose the different types of information while complying with the rules and regulations

How will this course be presented?

This Course starts with the basic topic of pension and then trains the trainees to become expert pension authority trustees. The unique methodology used by Rcademy enables the trainees to understand how a trust works and what regulations the trustees should abide by for a successful career. Moreover, the Academy’s professionals have real-field knowledge and experience, which they deliver to the trainees. Apart from the theoretical knowledge, this Course has practical exercises to offer in the shape of projects, class discussions, and so on.

What are the topics covered in this course?

Important topics that will be covered to become a pension authority trustee are enlisted below:

Module 1: Basics building blocks of pension – I

• What is a pension?
• What are pension schemes?
• Define the role of revenue
• What are the types of pension schemes?

 Module 2: Basics building blocks of pension – II

• Explain the pension operation
• Differentiate between social welfare and private pension provisions
• Describe pension schemes in-depth (occupational, DB, AVCs, DC)
• What is Trust?
• What is a pension authority?
• Limitation applied to the privileges of a pension authority

 Module 3: A step ahead: The Trust

• Explain the legal background of the Trust
• What is trust law?
• How is Trust integrated with state pension?
• Trustees and trusteeship
• Different kinds of trusteeship
• Setting up the pension scheme under Trust and the need for it

 Module 4: Trustee’s duties, roles, and responsibilities

• Rules of Trust and Trust deed
• Discretion, powers, and duties
• Activities outsourcing
• Decision making
• Liabilities of schemes
• Protection mechanism against scheme liabilities
• Meetings
• Purpose of meetings and consent
• Amending the scheme
• Selection of the trustee board and the participation of the Trust’s members
• Issues related to trustees
• Features of trustees (investment handling, knowledge, training, documentation, benefit payments, and record-keeping)

 Module 5: Pension Authority: Legalisation and compliance

• Finance acts
• Pension acts
• Revenue
• Pension Ombudsman

 Module 6: Regulations related to disclosure

• Annual reporting of the scheme
• Retirement
• Scheme Booklet
• Leaving the service
• Member benefit statements

 Module 7: Information disclosure

• Annual reports
• Booklets for explanations
• Funding certificates/actuarial reports
• Disclosing information to Trust’s members, such as pension benefit statement
• Termination of members in case of death, leaving employment, PAOs, investment choice, and retirement
• Documenting schemes
• Audited accounts

 Module 8: Finance of schemes

• Actuary and its role
• Standards for funding (DC/DB)
• Actuarial valuation
• Winding up schemes
• Acquisitions and mergers
• 50 benefit reductions selection (DB)
• Measures related to scheme solvency (DB)

 Module 9: Administration of schemes

• Benefit payment
• Record keeping
• Accounts
• Registering scheme
• Transferring payments
• Preserved benefits
• Remittance contribution
• Paying fees to the pension authority

Module 10: Matters related to investment

• Rules of investment
• Duties of trustees
• Powers of trustees
• Objectives of the setting investment
• Investment monitor
• Reporting investment
• Appointing the investment advisers
• Appointing investment managers
• Scheme assets’ custody
• Types of investments and their suitability (special attention to DB members and DC members)