Pensions

Moobag

Hi There not sure if anyone can help, but I am looking to increase my knowledge of pensions and wondered if there were any courses out there that people might like to recommend.

I have very limited experience of pensions and I am sure I am going to come unstuck one day!

Also won't do my CPD any harm by taking a course.

Thanks

payrollpro

Moobag,

This depends on your intentions. Increase knowledge of pensions covers a multitude of sins from understanding the different schemes, the tax regime, the application of NIC's within payroll depending on the employees pension choice, the mandatory enrolement rules for 2012, funding of pensions and the investment rules, how to manage a SIPP etc, etc.

I think you need to be clear what it is you are trying to achieve and in what context before embarking on anything otherwise you could find yourself learning stuff that isn't actually of any value to you.

Payrollpro

deanshepherd

You could try a CII FPC course.

Monsoon

I also need to expand my knowledge of pensions I can remember what's covered in Personal Tax at AAT but that's about it.

Can anyone recommend some good basic reading?

Specifically I need to look at the interaction of close companies and directors and pensions, I could do with brushing up on it. SIPPs would also be useful.

Thanks

payrollpro

Hi all,

I still think it depends on your intentions and because it is such a wide subject with considerable depth, remember there is a Pensions Management Institute (PMI) so its a serious issue and i have written a number of awareness courses for staff of payroll bureaux, but they were only basic.

Would it not be best to maintain connections with people who have the necessary knowledge and then contact them if and when you get a query. That way you can build up a knowledge of the areas of work you are likely to get asked about and still have a source for the answer. The knowledge can then help to identify the right level and provider of a course of study.

We all have to remember that our work is just a part of the pensions issue, Monsoon, we all know that contributions to the funds are deductible, however if the client breaks any of the rules for the scheme then any contributions are disallowed, but how are we to know that? We can only take their word for it that the scheme is tax approved and their management of it complies with the criteria. What i do is include a statement on the summary of their tax position making it clear that this only applies if the scheme compies with the rules and it is then up to them to declare any divergance from the scheme.

I know eveything there is to know about public sector pensions and a lot of others but SIPPs and some of the other nasties, no chance, i keep out of them!

Payrollpro