AF7 (Pension Transfers) Pre-Exam Revision Day, Thursday 12th September, Fareham

The Personal Finance Society Hants and Dorset Regional Committee in association with the Insurance Institutes of Bournemouth and Southampton have organised a training day for those members who are studying for and taking the AF7 examination. Priority will be given to Hampshire based members of the PFS Hants and Dorset Region.

The cost of the day’s training will be £76.27 for PFS members and £86.41 for non-PFS members. There is a maximum of 12 attendees. If we are oversubscribed, you will be placed on a waiting list.

The day will commence at 0930 sharp and finish by 1645.

The venue is the offices of Brooks MacDonald, The Long Barn, Dean Estate, Wickham Road, Fareham, PO17 5BN. There is parking on site.

For refreshments there will be tea/coffee and water available. Delegates will have to bring their own lunch, as there are no catering facilities on site.

The AF7 preparation day aims to increase your chances of passing the exam.

The course objectives are:

By the end of the event delegates will able to:

• Understand the background to pension transfers both from money purchase and final salary arrangements.
• 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 trainer is John Trayner FCII FPFS, a CII approved trainer, who has supported the Personal Finance Society Hants and Dorset Region’s exam revision programme since 2018.

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 dependent.

If possible, delegates should bring a recent TVAS document (names should be blacked off) but this is not essential.

To attend, please book online via the following link https://www.localinstitutes.cii.co.uk/southampton/home/events/

Any questions please email the Hants and Dorset PFS Regional Committee on hantsanddorsetpfs@outlook.com.

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