J05 – Pension income

What does the unit cover?
This unit provides a more detailed understanding of the choices that individuals have in drawing pension benefits in the UK.  

The main syllabus elements are:

Candidates should be able to demonstrate an understanding of the:

• Process of decumulating pension funds and the main issues for clients and advisers
• Main choices facing members of pension schemes during decumulation
• Features, risks and tax treatment of the secured pension option
• Features, risks and tax treatment of the unsecured pension option
• Features, risks and tax treatment of phased retirement
• Features, risks and tax treatment of the alternatively secured pension option

How is it examined?
2 hours, 15 short answer written questions. Pass mark is around 55%

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