How To Become a Certified Pension Consultant

If providing assistance to people concerning their pensions, financial plans and defined benefits is of great interest to you, perhaps a career as a certified pension consultant is what you are looking for. A certified pension consultant’s position involves interacting with employers to devise and execute benefit policies regarding their employees’ retirement plans.

  1. Obtain a bachelor’s degree in financial management or business administration, as the first step in preparing for your career as a certified pension consultant. Knowledge of accounting, law and economics would also be very helpful in preparing for your career. Also, many individuals regularly attend training classes to keep up with the most current pension developments.
  2. Attain 3 years experience in retirement planning. This is crucial, and in order to be selected for credentials as a consultant, this experience is absolutely needed.
  3. Request an application to join the American Society of Pension Professionals and Actuaries, also known as ASPPA, for the certified pension consultant designation. This particular designation is intended for individuals who specialize in insurance, financial and benefit plans. Several courses must be completed, and testing is provided on numerous subjects concerning pensions administration, profit sharing and financial programs.
  4. Prepare for examinations that consist of observing and problem solving skills, which might occur in actual consulting situations. The 4 hour examination includes questions relating to various areas such as 401(k) planning, fiduciary duties, loans and defined benefit plans.
  5. You can download the ASPPA application form online, as well as a catalog program guide that has frequently asked questions, exam schedules and registration information. To be eligible for registering early, a $275 payment with the form must be sent to ASPPA by the 17th of April for spring exams and the 28th of September for exams held in the fall.
  6. Search for a pension consultant position at financial companies, consulting businesses and insurance corporations. Schedules may include extended working hours, frequently visiting clients and meeting all deadlines. Outstanding communication capabilities are required, due to handling difficult financial objectives. Also, maturity, self-assurance and independently working on your own are required as well.
  7. Collaborate with employers and emphasize exceptional customer service skills. Presenting financial ideas to customers in a language that is very easy to understand is essential, and it helps them to feel more at ease. A certified pension consultant should be prepared to answer any questions, and inform their clients of any changes concerning benefit plans. Advise employers of any possible crisis that may occur concerning retirement plans.


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