What qualifications are needed for DB pension reports

JouneyToFreelance

Hi everyone,

I’ve been trying to find out what additional qualifications are needed to be able to write DB pension reports as I understand the standard Diploma award alone (R01 - R06) doesn’t meet the requirement. The information I found online suggests I would only need to sit level 6 AF7 (The Pension Transfer exam) but there’s mention of Activity 4 and 6 on the FCA guidebook that I don’t understand. For Paraplanners that currently write DB pension reports, what exams or additional requirements did you have to meet?

Would appreciate any information on this as I’m trying to map out the next set of exams to sit!

Thanks!

SA96

You don't need a qualification to write a DB report.

The only person who needs AF7 is the adviser providing the advice.

benjaminfabi

As @SA96 says, you don't need a qualification to write a report.

The firm needs to have the specific FCA authorisation and the adviser needs to have the relevant qualifications and be signed off as competent in the firm's T&C to act as a pension transfer specialist.

If you want to demonstrate that you know what you're doing with DB pension advice, sitting AF7 will give you an edge on other paraplanners but you can become a specialist paraplanner and/or report writer for this type of advice without taking an exam.

JouneyToFreelance

Ahh alright, thank you both! That clarifies things