Pensions and retirement planning - The Chartered …

1 PublishedJune2017 Copyright the endof thisunit,candidatesshouldbe ableto demonstratean understandingof andabilitytoanalyse: maintax andlegalframeworksthatgovernretirementbe nefitsunderregisteredpensionschemes; featuresof definedcontributionanddefinedbenefitpens ions; Stateretirementbenefitsavailable,includi ngthe risksandsuitabilityof contractingout of the theexamination* political,economicandsocialenvironmentfa ctorswhichprovidethe contextfor HM Revenue& Customs(HMRC)tax regimeappliesto relevantaspectsof pensionslawandregulationto structure,characteristicsandapplicationo f DefinedBenefit(DB)schemesto an individual s rangeof DefinedContribution(DC)schemeoptionsas theyapplyto anindividual s standardformat/2 optionsandfactorsto considerfor standardformat/4 structure,relevanceandapplicationof Stateschemesto an individual aimsandobjectivesof retirementplanning,includingthe multipleresponse*Thetestspecificationhas an in-builtelementof is designedto be usedas a guidefor studyandis not astatementof actualnumberof questionsthatwillappearin ,the numberof questionstestingeachlearningoutcomewillg enerallybe withinthe rangeplusor minus2 of the Methodof assessment:50 questions:39 standardformatand11 houris allowedfor thisexamination.

2 Thissyllabuswillbe examinedfrom1 September2017to 31 August2018. Candidateswillbe examinedon the basisof Englishlawandpracticein the tax year2017/2018unlessotherwisestated. It shouldbe assumedthatall individualsare domiciledandresidentin the UK unlessotherwisestated. Candidatesshouldreferto the CII websitefor the latestinformationon changesto lawandpracticeandwhentheywillbe examined:1. Selectthe appropriatequalification3. Selectyouruniton the righthandsideof the pagePublishedJune2017 Copyright political,economicandsocialenvironmentfa ctorswhichprovidethe contextfor roleof Government,policydirection, ,theirchallengesandimpacton , ,disincentivesandattitudesto mainpensionschemetypesandmethodsof HM Revenue&Customs(HMRC)tax HMRCtax regimeappliestopensionsplanning: Contributionsandtax relief, Pensionschemeinvestmentfunds, Deathbenefits, Retirementbenefits, followingare applied: Annualallowances, Taperingof the annualallowance, Lifetimeallowance, tax treatmentof relevantaspectsof roleanddutiesof trusteesandadministratorsof structure,characteristicsandapplicationo fDefinedBenefit(DB)schemesto anindividual s maintypes,attributesandbenefitsof DB pensionprovisionincludingthe rulesandoperationof DB roleof trusteesandotherparties, factorsto considerandthe benefitson leaving,earlyandnormalretirementincludin gthe maintransferissuesin benefitsavailableon ill structure,mainattributesandbenefitsof rangeof DefinedContribution(DC)

3 Schemeoptionsastheyapplyto an individual s typesof DC schemes, legalbasesof DC schemesandtheirimpacton an individual s benefitson leaving, optionsandfactorstoconsiderfor optionsto considerin optionsavailablefromDB schemesfor optionsavailablefromDC schemesfor suitabilityof structure,relevanceandapplicationof Stateschemesto anindividual s structure,relevanceandapplicationof StateRetirementBenefitsandthe PensionCreditframeworkas partof an individual aimsandobjectivesof retirementplanningin relationto: An individual s aimsandobjectives Investmentsavailableto meettheseobjectives Alternativesourcesof retirementincome Regularreviewsandthe factorsaffectingthem Assetallocationfactors Themaincharacteristicsof self-investmentSyllabusconstructionThesy llabusconsistsof comprehensivelistingof theindicativecontentis providesdetailsof :Theexaminationwilltestthe is providedfor guidanceonlyandisnot in itselfthe subjectof the the studytextscanbe addedfrequently- for informationaboutnewreleasesandlendingser vice,pleasego modernapproachto lifetimetax planningfor privateclients(withprecedents).

4 ChristopherWhitehouse, :Jordans, :WoltersKluwer, ed. :ClaritaxBooks, PensionsDepartmentof , guide:a tax ed. :ClaritaxBooks, (CII/PFSmembersonly):Recreatingsustainab leretirement:resilience,solvencyandtail BrettHammond,et al. Oxford:OxfordUniversityPress, :theory, :Wiley, factfilesare concise,easyto digestbut technicallydenseresourcesdesignedto enrichthe ,life andpensionsandfinancialservicessectors,t he factfilecollectionincludeskeyindustrytop icsas wellas lessfamiliarorspecialistareaswithinforma tiondrawntogetherin a waynot (CII/PFSmembersonly). of4 availableunderthe LifeandPensionssectionof the :FT (previouslyFinancialsolutions).London:CI I. Six issuesa (CII/PFSmembersonly). :FT :FT s glossary:the :Taxbriefs, (CII/PFSmembersonly). :LexisNexisUK. Looseleaf, :Sweet& , Maxwell s lawof :Sweet& , s guideto :LexisNexisTolley, :EconomicandFinancialPublishingLtd in examinationguide,whichincludesa specimenpaper,is availableto youhavea currentstudytextenrolment,the currentexaminationguideis includedandis accessibleviaRevisionmate( ).

5 Detailsof howtoaccessRevisionmateare on the firstpageof is recommendedthatyouonlystudyfromthe mostrecentversionsof the Londonholdsa lectureonrevisiontechniquesfor CII examsapproximatelythreetimesa (CII/PFSmembersonly).