Introduction to Retirement consists of seven main lessons on:

• Retirement market (13 mins)
• State provisions (22 mins)
• Eligibility and allowances (13 mins)
• Individual pension arrangements (17 mins)
• Occupational pensions (21 mins)
• Retirement benefits (21 mins)
• Rules and regulations (23 mins)

Length of programme: 109 minutes

Topics include:

• Stages of pension arrangements – savings and benefits
• Advantages of paying into a company scheme
• SERPS
• State Second Pension
• Contracting out
• State Pension Credit Act 2002
• Eligibility and allowances
• Annuities
• Death benefits
• Phase retirement
• Defined benefits
• Triviality

• Scenario based – Trisha, a working mother, goes to see Anand as she is worried about not saving enough for her retirement. She is eligible for an additional state second pension. Trisha speaks to her sister about Retirement Annuity Plans (RAPs). Anand explains the different individual personal pensions available and explains the benefits of RAPs to her. He gives her advice about contracting out of the Additional State Pension. Trisha’s sister gives her advice about taking benefits but this information is out of date.
  
  Maggie is at the savings stage of her pension arrangement and decides not to pay into her company scheme yet. She is eligible for a basic state pension. Anand explains the types of contracting out occupational schemes available.
  
  Simon is the Managing Director of a small company and wants to set up a pension scheme for his employees. He goes to see Anand for advice on which scheme to use and on tax benefits. His colleague, Jessica wants to know about increasing her pension fund and talks to Simon. Justine is thinking of leaving Simon’s company and wants to know about pensions in relation to changing jobs, particularly her OPS benefits. Her friend Lucy explains the Section 32 Buy Out policy to her.
  
  Dawn goes to see Anand for advice as she is approaching retirement and wants to know how her pension fund will turn into retirement income and learn more about her benefit options. She considers annuities and unsecured pensions and asks Anand about death benefits so that her husband is covered.
  
  Jessica goes to see Anand as she is going through a divorce and asks his advice on how she could share her soon to be ex-husband’s pension. Anand presents her with the options available to her.
  
  Roger’s company is in serious financial difficulty and he goes to see Anand to discuss how bankruptcy and money laundering could impact on his pension.
  
  This refreshing and lively approach enables learners to gain knowledge from learning materials based on real life situations. The programme is very heavily based on different scenarios and this enables the learner to understand the diversity and complexity of many pension situations.

• Employee records of completion demonstrates an organisation’s commitment to the rules and regulations imposed by the regulators concerning the selling and servicing of financial services products
• As an online programme employees are able to access learning around their work commitments
• Short, online assessments continually test and reinforce employees’ learning allowing employers to be confident that employees understand essential information
• It is developed by the industry for the industry

• Enables new employees to gain the confidence which will help them to perform their role more effectively and give them a firm base on which to build their skills and knowledge.