On the go: The accreditation system put in place for professional trustees has seen its first candidate pass through the process, as qualification providers eye online migration of examination processes.
Michael Clark, director of CBC Pension Services, achieved accreditation under the programme run by the Pensions Management Institute, including passing exams on general trusteeship and on the soft skills involved in successful board membership.
The accreditation standard, set out by a working group led by the Association of Professional Pension Trustees, also requires applicants to show that they are fit and proper, and to undertake continuing professional development.
Both the PMI and APPT are now running separate accreditation regimes, although they will follow the same standards and both incorporate PMI exams.
After passing through the PMI system, Mr Clark said: “I'm delighted to have become the first PMI-accredited professional trustee. I believe that the continued drive towards increasing the professional behaviour and standards for all trustees will stand the industry well in dealing with the current and future challenges that face pension schemes and their sponsors.
“As accredited professional trustees we can demonstrate to members, fellow trustees and scheme sponsors that we have the necessary skills to run what are increasingly complex pension schemes.”
The Covid-19 lockdown has created an extra hurdle for trustees seeking accreditation, with PMI exams previously only available in physical form. However, the industry body has announced that its exams will be shifted online from May, starting with the soft skills second unit of the PMI Certificate in Pension Trusteeship, followed by the Award in Pension Trusteeship, Certificate in DC Governance and Retirement Provision Certificate.
“In the meantime, we encourage all professional trustees to make as much headway as they can with their applications, so that they will be able to hit the ground running in completing the final accreditation exams,” said Gareth Tancred, chief executive of the PMI.
He added: “Professional trustees play a crucial role in pension scheme governance, and as industry professionals it is within all of our interests to strive for ever-improving governance standards to drive better outcomes for scheme members.”
