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Pensions and Other Benefits

Pensions and Other Benefits Specialist Principles and Advanced (SP4 and SA4) are key assessments for students working in the field of pensions. For the new curriculum we have developed the core reading material to allow for the changing environment, including alternative approaches to benefit provision. Key developments include a greater emphasis on risk sharing, defined contribution arrangements and public sector schemes and, for SA4, drawing on examples from different territories.

Pensions and Other Benefits Specialist Principles (SP4)

Specialist Principles

The aim of Pensions and Other Benefits Specialist Principles (SP4) is to develop a student’s ability to apply, in simple situations, the main principles of actuarial planning and control needed for the financial management of pensions and other benefits.
 
It builds on material covered in earlier subjects and seeks to equip a student with the skills and broad working understanding of pensions to the level that may be required of a qualified actuary working in a consultancy, insurance company, public sector body or other comparable financial institution.

Exam format:
3 hours 15 minutes paper-based exam
Recommended study hours:

Pensions and Other Benefits Advanced (SA4)

Specialist Advanced

The aim of Pensions and Other Benefits Specialist Advanced (SA4) is to develop a student’s expertise to a level allowing the successful application of knowledge of the benefits environment and principles of actuarial practice, to complex situations relating to pensions and other benefits.

It builds on material covered in Subject SP4 and earlier subjects and seeks to equip a student with the skills and broad working understanding of benefit provision to the level appropriate to a senior manager of a consultancy, insurance company, public sector or other relevant financial institution.

Exam format:
3 hours and 15 minutes paper-based exam