View Unit : Calculating and Quoting Pension Scheme Death Benefits

Unit

Unit Reference Number

H/503/0515

Qualification Framework

QCF

Title

Calculating and Quoting Pension Scheme Death Benefits

Unit Level

Level 3

Unit Sub Level

None

Guided Learning Hours

Unit Credit Value

Date of Withdrawal

SSAs

15.1 Accounting and Finance

Unit Grading Structure

Pass

Assessment Guidance

This unit must be assessed in line with the appropriate Assessment Strategy from the FSSC.

View Unit's Qualifications

Learning Outcomes and Assessment Criteria

Learning Outcome - The learner will:		Assessment Criterion - The learner can:
1	Be able to interpret and apply pension scheme rules in the event of a death notification	1.1	Identify and apply scheme rules and definitions for all given schemes in the event of a death of a member
1		1.2	Identify when lump sum benefits are payable at Trustees discretion or to the deceased member’s Estate
2	Be able to determine benefits payable based on member records, scheme rules and legislation	2.1	Extract, collate and check all necessary information and documentation before benefits can be quoted and settled
		2.2	Perform calculations to accurately determine benefits, taking into account the member’s records, scheme rules and relevant legislation and in line with organisational and statutory requirements and the service level commitment
		2.3	Identify and take into account any necessary supplementary and discretionary benefits in the calculating of death benefits
		2.4	Calculate any required lump sum benefits
3	Be able to interpret and apply statutory requirements and legislation following a death notification	3.1	Calculate and provide information relating to HM Revenue & Customs Regulations where required
3		3.2	Calculate statutory increases on pensions in payments and on deferred pensions for the period between the date of exit and death where applicable
4	Be able to quote benefits which match death benefit calculations in line with scheme, organisational and statutory requirements	4.1	Provide an accurate and understandable quote to the beneficiary, sponsor or Trustee in writing of the entitlements within the required timescales in line with scheme, organisational and statutory requirements and the service level commitment
		4.2	Provide complete and accurate information to accompany the quotation ensuring that benefits quoted match calculations
		4.3	Perform activities in a way that meets Disclosure requirements and legal requirements

Equivalent Units

There are no equivalences to display.