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Future is bright for PMI qualified pensions professionals, says survey

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In the five years since the Pensions Management Institute’s last Career Development Survey in 2010, there have been significant increases in reported salaries, with the average rising by almost GBP10,000 to GBP59,118.  

The PMI’s latest survey was conducted in November 2015 and polled the views of over 450 of its members on careers development as well as wider issues in the retirement savings industry.
 
While this increase must be seen in the context of a low inflation economy since the financial crisis of 2008, it still compares favourably with the Office of National Statistics (ONS) average salary for Financial and Insurance Services, being slightly above its figure of GBP58,120.
 
Future earnings prospects look even stronger for PMI qualified Associates and Fellows, especially when comparing pensions professionals to those in other industries.
                                                                                               
Kevin LeGrand, PMI President, says: “This is our second Career Development Survey, with the world of pensions a very different place to where we were five years ago. Even though as an industry we still feel the impact of the financial crisis, the outlook for individuals is very promising.  For anyone considering a career in financial services, a future in the pensions and retirement savings industry is looking very bright indeed.
 
“For those individuals wanting to further enhance their prospects, it is clear a PMI qualification will help lift both their career progression and potential financial reward.  With such a promising picture, the career pathway to pensions may cease to be the accidental one we in the industry hear about all too often, and instead become a very solid and intentional decision.”

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