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J04 Exam: Pension Funding Options

J04 Exam: Pension Funding Options

The J04 exam module, which focuses on Pension Funding Options, can be studied as part of obtaining the Diploma in Financial Planning. This is vital to achieving QCF level 4, which is the minimum requirement for becoming a financial adviser. It can also be used towards the credits for Level 6 financial planner status.

Subjects Covered:

The J04 exam covers the HM Revenue & Customs (HMRC) tax regime for pensions, particularly in relation to the accumulation of retirement funds; the range of retirement benefits available in the United Kingdom; the process, associated risks, and suitability of contracting out of the State Second Pension; pensions within a legal framework; defined contribution or benefit pension schemes; early leavers and how transfer value analysis can be used; and the key features of pension accumulation.

Key Features:

The J04 is a 2-hour exam, and takes 100 hours of study time (although this can vary from person to person). Several assessment centres around the United Kingdom, including Bristol, Glasgow, Liverpool and Manchester, hold the exam on set dates during the year. Fifteen compulsory short-answer questions make up the J04 exam.

Study Aids:

Brand Financial Training offers mock exam papers and a Calculation Workbook to help candidates pass the J04 exam. The mock exam papers are available as a free sample set, or as a set of three complete question/answer papers to buy. Although the questions are set out in the same format as the CII questions, they are not exact replicas. The questions are updated regularly to reflect any changes to the exam syllabus and any new tax rules and regulations. The Calculation Workbook consists of over 60 pages of calculation questions and answers, with references to the relevant CII study text. The mock papers and Calculation Workbook can be received in PDF format, which allows candidates to access them electronically. Both study aids come with the Brand Financial Training 30-day, money-back guarantee. Additionally, a student can subscribe to Brand Financial Training’s free monthly newsletter, which is full of relevant articles and exam updates that help candidates pass the J02 and any of the other diploma exams.

Information in this article is correct as at July 2011