PFS AF7 Pension Transfer Exam Study Day

The AF7 preparation day is designed to refresh your knowledge which aims to increase your chances of passing the exam.

By the end of the event delegates will able to:

• Understand the background to pension transfers both from money purchase and final salary arrangement;
• Describe the main structure and governance of a defined benefit scheme;
• Describe a DB scheme’s main features including the benefits paid at normal, early and late retirement, ill health pension and on death;
• Understand the options available to someone who has left a DB scheme’s sponsoring employment;
• Know how a deferred pension will be revalued;
• Understand how a Cash Equivalent Transfer Value (CETV), is calculated, the assumptions behind the calculation and how changes in these will affect the CETV;
• Understand how a TVAS is constructed and what assumptions need to be made;
• Understand how a critical yield is calculated together with its limitations;
• Understand and identify the main factors to be able to advise clients who wish to consider transferring their DB pension rights both ahead and at the point of retirement;
• Understand the principles of managing a Flexi Access Drawdown fund to achieve a sustainable income in retirement;
• Know the FCA’s current thinking on DB transfers;
• Know the compliance issues in giving advice on DB transfers.

The course will be led by John Trayner FCII FPFS who runs his own training business. John took and passed AF7 in October at the ripe old age of 69!

Ahead of the event delegates should try and refresh their knowledge of:

• The rules on revaluing deferred pensions;
• The main benefits of retaining membership of a DB scheme;
• How Flexi Access Drawdown works together with the options on the death of a member or dependant.

This event is provided at a subsidised cost of just £30, paid in advance, which includes refreshments and a sandwich lunch.

Places are limited to 15 people, so early booking is advisable. Places will be allocated on a first come, first served basis.