Scheme Booklets

The examinations are designed to test the competence of learners in the calculation and communication of pension benefits for a range of scheme types. Depending on the examination being tested, there will be either five or six case studies (Calculation Section) and either one or two letters (Letter Section).

The examinations are based on three types of fictitious pension schemes:

Scheme

Type

Contracted-Out Status

OPQ

Money Purchase

Not Contracted Out

RST

Career Average Revalued Earnings (CARE)

Not Contracted Out

XYZ

Final Salary

Contracted Out (Category A) until 5 April 2016

Not Contracted Out (Category B)


The examinations require learners to provide evidence of their ability to:

  • Understand and interpret rules for different types of pension scheme
  • carry out manual calculations for a range of member events
  • Understand the impact of supplementary information (e.g. part-time service, enhanced accrual rates, transferred-in benefits, AVCs, etc.) on the core benefits payable
  • Understand legislative restrictions that apply to the level of benefits payable
  • Communicate benefit options fully and accurately and request all the information required before the scheme can pay the benefits

Copies of Scheme Booklets and Tables of Factors should be taken into the examinations. It is vital that learners ensure they have the current versions, which are downloadable from this page by accessing the following links:

Current Scheme Booklets

XYZ Pension and Life Asurance Scheme Booklet (reviewed April 2023)

RST Pensions Scheme Booklet (reviewed April 2023)

OPQ Retirement & Death Benefits Plan Booklet (reviewed April 2023)

Tables of Factors (reviewed April 2023)

Key Features (reviewed April 2023)