F71PC - Pensions A

The aims of this course are:

To provide an understanding of the roles and needs of the parties involved in the provision of pensions, including social security
To provide a thorough understanding of alternative systems of pension provision, and their financing
To provide an understanding of the factors involved in pension scheme design

To provide an understanding of issues relating to sponsor covenants in occupational pension schemes

1. Introduction (1.1 Types of retirement provision: state, employer, individual)

2. Scheme design (2.1 Occupational schemes, government schemes)

3. Communications (3.1 Scheme booklets, regular information)

4.1 Identification, management, sponsor covenant

By the end of the course, students should be able to do the following:

(Analysis) Compare alternative systems of social security, individual accounts, occupational benefit schemes and personal pensions.
(Comprehension) define the principal terms used in pension provision.
(Analysis) analyse the implications for the relevant various parties of the environment in which benefits are provided.
(Application) determine suitable designs for different pension schemes, in terms of benefit structure and contributions.
(Analysis ) analyse the implications for the various parties of the environment in which benefits are provided.
(Application) develop a scheme in which a provider may finance the required benefits.
(Application) measure the strength of a sponsor covenant.
(Communication) communicate technical and non-technical life pensions topics to a variety of audiences.

Further details

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SCQF Level: 11

Credits: 15