Introduced in 2005 to help advisers understand the changes to pensions tax regime in April 2006 (A-Day), more than 16,000 people have already completed the programme.
A total of 1,740 entrants took the programme at last month’s session and in order to meet continuing demand, the CII is to extend the programme’s availability beyond the planned withdrawal in October. Two further exam sessions are now being offered in January and April 2007.
CII deputy director general Bob Bullivant said: “I am extremely encouraged by the positive response from advisers to the programme. It is clear that many still recognise that they need a formal assessment to demonstrate that they have topped-up their knowledge of the new regime. Organisations too are using the programme as part of their induction process. The industry should be commended for their commitment to raising professional standards in this way.”
Devised by leading practitioners, the Update Programme provides comprehensive and practical guidance on the pensions tax simplification regime. Those who complete the programme receive a record of achievement to enable them to demonstrate that they have topped-up their financial planning or pensions specific qualifications. Organisations can use this external validation to help show compliance with the regulatory requirements.
Bullivant added: “Completing the Programme also provides 10 credits towards the higher level CII Diploma and Advanced Diploma in Financial Planning. It is therefore also helping advisers to progress to higher levels of qualification and ultimately to the Chartered Financial Planner title.”
