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J05 Exam: Pension Income Options

J05 Exam: Pension Income Options

The Diploma in Financial Planning is the minimum requirement for someone planning to work as a financial adviser or planner. The J05 exam module focuses on Pension Income Options. It can also be used towards the credits required for Level 6 Chartered Financial Planner status.

Subjects Covered:

The J05 exam covers:

  • The rules that govern retirement benefits at their crystallisation date
  • The risks and tax treatment of the secured pension option
  • The risks and tax treatment of the unsecured pension available up to age 75
  • The risks and tax treatment of the alternatively secured pension available when an individual reaches the age of 75
  • The use of the critical yield in advising on income withdrawal and the effects it may have on investment
  • The benefits available to an investor who is in ill health
  • The choice of State retirement benefits
  • The issues involved in providing on-going advice on pension benefits to a range of clients

Key Features:

The J05 is a 2-hour exam, and is considered to take 100 hours of study time, though this may be more or less, depending on the individual. Liverpool, London, Leeds and Edinburgh are just a few of the UK cities that have test venues for the exam which takes at set times during the year. Like the other J0 exams, J05 consists of fifteen compulsory short-answer questions.

Study Aids:

The Brand Financial Training mock exam papers and Calculation Workbook are ideal for helping candidates pass the J05 exam. Available either as a free taster set or to buy as a full set of three complete question/answer papers, the mock exam papers consist of questions that are set out in the same format at the CII questions, although they are not exactly the same. The questions are updated regularly to reflect any exam syllabus amendments or new tax rules and regulations. The Calculation Workbook consists of over 60 pages of calculation questions and answers, which are cross-referenced to the relevant CII study material. The 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. Brand Financial Training’s monthly newsletter is another useful study aid; it is full of relevant articles and exam updates and is completely free.

Information in this article is correct as at July 2011