@laura0604 Thank you, you must be a genius! So happy that you passed. I was thinking of sitting in June, I got my study material with the intention of starting after my holiday in October but my gran has been in hospital since then so lots of my time has been spent at the hospital but I'm aware that I need to sit this exam and get it passed too. Its just trying to find the balance when you work full time, having a child and everything else that life throws out you.
It was a big relief! Sorry to hear about your gran, that sounds tough. Well done for studying as much as you have! You'll probably find once you're in a routine of doing some regularly it will all start to fall into place.
I'm doing R05 in two weeks, wanted to get it done early in December as my weekends will then be full of Santa visits and pantomimes and Christmas parties - I'm guessing yours will be too if you're also a parent! So don't put too much pressure on yourself over Christmas, do what you can and in January you may have a bit more spare time.
I'll be sitting R06 in January, but plan on giving myself a nice long break from studying after that, before committing to any more exams!
I have failed R04 twice now (both times by one mark!) I took them both at end of August, only gave myself a week to get back on it, but I just didn't want to be retaking when the syllabus changed. Anyway, fast forward 3 months and I haven't even opened my new 19/20 R04 book (burying my head in the sand!) I really need to have passed before Christmas though...so if anyone wants a study buddy who is wanting to pass before Christmas too, then please get in touch.
@laura0604 congratulations on your pass, that's really good going. Could I please have those study papers too? I have R05, R02, and R01 brand papers I can send too if anyone would like them.
Claire it took me around 2/3 months studying but i'm terrible at studying and under exam conditions. These recommended study hours of 60/100 definitely don't apply to me! Then again I have no experience in the finance industry and have just gone for a complete change in occupation.
I tend to book exams which are tough deadlines for myself as it gets me working 10x harder towards it. I rarely passed any practice exams I did but was close enough and a little more work got me through the real thing. Some people like to pass most practice exams and assure a pass in the real thing so it does depends on you and your approach!
From R01-R05 I passed the 5 exams, but I actually failed 5 times as well throughout them all
I made some good notes from the R04 book if you want to look at them, ill drop you them on email.
@Abbas78600 said:
Hey guys help me out I have been on RO1 for a year now failed 7 times last time I missed out on 2 marks, its stressing me out I was thinking of doing ro3 and ro4 and then come back to ro1.
I have got ro5 and was just thinking of doing cemap but then again I want to be an ifa?
What would you guys think?
To be honest I would stick with it. If you stop now, you will likely forget 95% of the study you have already done and it would be a year lost. Just keep hammering the question banks, there are only so many questions they can ask.
Hey all how is everybody - I am currently studying r04 and would love to join in the study group. Also if anybody has revision material - I have brandft from 2018-19 but want to see the latest ones in case any different
I also have a study guide and audio from brandft for 2019/20 but didn’t really suit the way I like to study. Happy to share if anybody wants these
Hi guys. I’m due to take RO4 end of the month. Wondering if anyone had any spare past papers they could spare? I’ve got some R01 and R02 stuff if anyone interested. Cheers
If possible can you please also send me any materials you have for RO4?
I have RO1 and passed RO5 on Friday but have failed RO2 twice now so I have put this on the backburner and looking to get RO4 and RO3 out the way and go back to RO2 at a later date.
I have only just ordered my book today but am looking to take my exam in July if anyone wants a study buddy?
@jamesw1985 said:
Hi I am a little confused if somebody can help
Looking over DB scheme section - the CII textbook talks about calculating PCLS for defined benefit schemes. First it talks about calculating it as;
Years of service x 3/80th x Final Salary
Which would give you total PCLS available for the person
However it then talks about calculating it a different way;
Pre commutation pension x commutation factor divided by (1+0.15x commutation rate)
I don’t understand when you are meant to use each calculation? Can anybody help
Hi James,
I think you may have confused yourself on this. It is my understanding that the first calculation is to determining the final salary pension income whilst the second calculation shows the PCLS calculation. In theory, the answer to the first calculation will form the first part of the second calculation (if that makes sense).
I.E.
Years of service x 3/80th x Final Salary = A
A x commutation factor divided by (1+0.15x commutation rate)
Hi rwooffatst thanks so much for getting in touch 😊
I’ve double checked and it definitely refers to PCLS. DB pension would be calculates as years in service/commutation rate x final salary... so in my example it would be 20/60 (standard commutation rate) x £72,000 equals £24,000 per annum
I think the difference might be in how the PCLS are taken. In example one this is how you calculate them if taken separately from the pension while example two is when part of the pension is commuted? Can anybody confirm this
@jamesw1985 said:
Hi rwooffatst thanks so much for getting in touch 😊
I’ve double checked and it definitely refers to PCLS. DB pension would be calculates as years in service/commutation rate x final salary... so in my example it would be 20/60 (standard commutation rate) x £72,000 equals £24,000 per annum
I think the difference might be in how the PCLS are taken. In example one this is how you calculate them if taken separately from the pension while example two is when part of the pension is commuted? Can anybody confirm this
Oh sorry yes I can see where I went wrong. I think they are simply different based on how the scheme determines the PCLS (i.e. by commutation figures or by a factor).
@Clairebear512
Hello, just been reading through this thread, hope your studying is going well If you have anything on R04 you could send across to me that would be great! My email: d-kelly@live.co.uk
Hi @DanielleK , @Clairebear512 , hope you're both well - would it be possible to send across any R04 docs you have (notes or mocks or anything please)!
Hi there I am taking r04 next month and finding it hard despite having worked on pensions for years. if anyone has any past papers they are able to email me I would be very grateful. My email address is nicoleamower@gmail.con
Thank you
Comments
@laura0604 Thank you, you must be a genius! So happy that you passed. I was thinking of sitting in June, I got my study material with the intention of starting after my holiday in October but my gran has been in hospital since then so lots of my time has been spent at the hospital but I'm aware that I need to sit this exam and get it passed too. Its just trying to find the balance when you work full time, having a child and everything else that life throws out you.
Well done you! What's next? x
It was a big relief! Sorry to hear about your gran, that sounds tough. Well done for studying as much as you have! You'll probably find once you're in a routine of doing some regularly it will all start to fall into place.
I'm doing R05 in two weeks, wanted to get it done early in December as my weekends will then be full of Santa visits and pantomimes and Christmas parties - I'm guessing yours will be too if you're also a parent! So don't put too much pressure on yourself over Christmas, do what you can and in January you may have a bit more spare time.
I'll be sitting R06 in January, but plan on giving myself a nice long break from studying after that, before committing to any more exams!
Hi,
I have failed R04 twice now (both times by one mark!) I took them both at end of August, only gave myself a week to get back on it, but I just didn't want to be retaking when the syllabus changed. Anyway, fast forward 3 months and I haven't even opened my new 19/20 R04 book (burying my head in the sand!) I really need to have passed before Christmas though...so if anyone wants a study buddy who is wanting to pass before Christmas too, then please get in touch.
@laura0604 congratulations on your pass, that's really good going. Could I please have those study papers too? I have R05, R02, and R01 brand papers I can send too if anyone would like them.
@Alexandra1512 I wont be sitting the exam before Christmas but more than happy to study with you. Claire
Claire it took me around 2/3 months studying but i'm terrible at studying and under exam conditions. These recommended study hours of 60/100 definitely don't apply to me! Then again I have no experience in the finance industry and have just gone for a complete change in occupation.
I tend to book exams which are tough deadlines for myself as it gets me working 10x harder towards it. I rarely passed any practice exams I did but was close enough and a little more work got me through the real thing. Some people like to pass most practice exams and assure a pass in the real thing so it does depends on you and your approach!
From R01-R05 I passed the 5 exams, but I actually failed 5 times as well throughout them all
I made some good notes from the R04 book if you want to look at them, ill drop you them on email.
Steven
@Royals430 That would be amazing, thank you. 2-3 months is a fantastic time to pass in! What did you work as before?
iv got RO4 on thursday, @Royals430 do you have any advice
To be honest I would stick with it. If you stop now, you will likely forget 95% of the study you have already done and it would be a year lost. Just keep hammering the question banks, there are only so many questions they can ask.
Sorry Wilko i haven't been online how did you do?
I also have a study guide and audio from brandft for 2019/20 but didn’t really suit the way I like to study. Happy to share if anybody wants these
@CRO2017 I have the Cii one that Revision Mate gives you and possibly some brand ones?
How is everyone getting on with RO4, did everyone pass? My colleague needs a new study buddy.
@Redawg31 I still haven't sat it yet, I'm thinking June/July.
@CRO2017 What's your email address?
Hi guys,
If possible can you please also send me any materials you have for RO4?
I have RO1 and passed RO5 on Friday but have failed RO2 twice now so I have put this on the backburner and looking to get RO4 and RO3 out the way and go back to RO2 at a later date.
I have only just ordered my book today but am looking to take my exam in July if anyone wants a study buddy?
also appreciate any help and tips
Thanks in advance
lynseymclean3986@gmail.com
Hi @Lynsey, I will send you an email today with a study paper.
I also failed R02 twice in 2018 and have parked that one for just now. I'm also thinking July for R04, more than happy to be a study buddy for you.
Will email you on my lunch break or after work.
Claire
Thanks @Clairebear512.
@Lynsey I'm not forgetting about emailing you. Will do it after work tonight.
@Lynsey Hey, I emailed you this morning but it came back undeliverable, do you have an alternative email address?
Looking over DB scheme section - the CII textbook talks about calculating PCLS for defined benefit schemes. First it talks about calculating it as;
Years of service x 3/80th x Final Salary
Which would give you total PCLS available for the person
However it then talks about calculating it a different way;
Pre commutation pension x commutation factor divided by (1+0.15x commutation rate)
I don’t understand when you are meant to use each calculation? Can anybody help
Hi James,
I think you may have confused yourself on this. It is my understanding that the first calculation is to determining the final salary pension income whilst the second calculation shows the PCLS calculation. In theory, the answer to the first calculation will form the first part of the second calculation (if that makes sense).
I.E.
Years of service x 3/80th x Final Salary = A
A x commutation factor divided by (1+0.15x commutation rate)
https://www.which.co.uk/money/pensions-and-retirement/company-pensions/defined-benefit-and-final-salary-pensions-ajvnw4q07rlm
Hope that helps.
I’ve double checked and it definitely refers to PCLS. DB pension would be calculates as years in service/commutation rate x final salary... so in my example it would be 20/60 (standard commutation rate) x £72,000 equals £24,000 per annum
I think the difference might be in how the PCLS are taken. In example one this is how you calculate them if taken separately from the pension while example two is when part of the pension is commuted? Can anybody confirm this
Oh sorry yes I can see where I went wrong. I think they are simply different based on how the scheme determines the PCLS (i.e. by commutation figures or by a factor).
Hello, just been reading through this thread, hope your studying is going well
Thanks so much x
@DanielleK I will email you today with the Cii paper that I have. Claire x
Hi @DanielleK , @Clairebear512 , hope you're both well - would it be possible to send across any R04 docs you have (notes or mocks or anything please)!
My email is joseph_barton@gmx.co.uk - thank you!
Thank you