Providing Educational Opportunity DIPLOMA IN INTERNATIONAL EMPLOYEE BENEFITS DIPLOMA IN INTERNATIONAL November 2017
DIPLOMA IN INTERNATIONAL AIM OF THE ACCREDITATION The Diploma in Benefits provides a programme of education, study and examinations for all those involved with the complex area of international employee benefits. It has been developed in conjunction with the Pensions Management Institute (PMI). The aim of the Diploma is to identify aspects of benefit provision which those involved in international employee benefits are most likely to encounter in dealing with internationally mobile employees and local employees. DIPLOMA COURSE PROGRAMME The syllabus includes a review of the employee benefits environment in nine countries where multinational companies typically operate. The course also addresses the major benefit design and financing issues that multinational corporations have to face in managing international employee benefits including: international benefit strategy financing arrangements risk benefit management accounting and actuarial matters internationally mobile employees Individuals from many backgrounds will find the Diploma meets their professional needs. These individuals may work for consultancies (including actuaries, lawyers, accountants and tax specialists) or insurance companies or in the pensions or remuneration and benefits departments of commercial companies. They may have international experience already or find that their careers are beginning to move in that direction. In developing the Diploma, the aim has been to identify those aspects of benefit provision which such people are most likely to encounter in dealing with internationally mobile employees and local employees. On a wider scale, it is hoped that the material will be of assistance in formulating corporate policy on employee benefits worldwide. AWARD OF THE DIPLOMA To be awarded the Diploma, it will be necessary to pass both modules: International 1 Foundation in International Employee Benefits; and International 2 Managing Benefits. Those awarded the Diploma are entitled to use the designatory initials Dip. IEB. CONTINUING PROFESSIONAL DEVELOPMENT Qualified Members of the PMI may record up to three hours of formal development on passing each paper of the Diploma. The undertaking of both the Certified Practitioner Accreditation or the Diploma generate Continuing Professional Development credits, applicable by competent authorities per country. WHO IS IT FOR? People from many backgrounds will find the Diploma meets their professional needs. They may: - work in the pensions or remuneration and benefits departments of private or public sector companies - work as consultants, actuaries, lawyers, accountants and tax specialists - work for insurance companies, asset managers and thirdparty administrators - already have some experience of international employee benefits, or find that their careers are beginning to move in that direction, or wish to expand their career in that direction Together with sufficient experience, Diploma holders may be able to undertake a position with an international employee benefits focus within any organisation. There are no formal entry requirements to take the Diploma although it is expected that candidates will have a sound knowledge of pensions and employee benefits in at least one of the countries covered by the Diploma syllabuses. 2
DIPLOMA IN INTERNATIONAL HOW WILL IT BENEFIT ME? - It is hoped that the Diploma will assist in formulating corporate policy on employee benefits worldwide - Achieving the Diploma provides holders with the foundation of knowledge and understanding to resolve, in a practical way, matters within the international employee benefits arena - Diploma holders are entitled to use the designatory initials DipIEB and may also apply for election as Diploma Members of the PMI with the designatory initials DipPMI WHAT IS THE STRUCTURE? The Diploma consists of two modules and candidates must pass both. Module One provides an introduction to the different employee benefits in an international context and the different ways these are designed, delivered, funded, communicated and administered around the world. This Module also introduces: - the respective roles of stakeholders involved in the provision of international employee benefits - benefit provision in the USA, Germany, the UK and also Japan, France, the Netherlands and Switzerland - a regional overview of Europe and North America (in order to highlight the different practices in respect of employee benefit provision) - the legal and regulatory influences of the European Union on employee benefit design and financing Module Two builds on the material covered in Module One and aims to help develop an understanding of: - the employee benefit objectives of a multinational company - the funding and risk management aspects of providing employee benefits - corporate risk benefit management - employee benefit provision in Brazil, China, India and Russia - a regional overview of Africa, Asia and Latin America in order to highlight the different practices of employee benefit provision - the issues affecting internationally mobile employees and the possible employee benefit implications of mergers and acquisitions HOW DO I STUDY? There is a comprehensive study material package for each Module. The package consists of a study manual and access to a web based distance learning course, which includes a series of assignments, a mock examination, tutorial facilities and feedback from a tutor. It is recommended that study begins at least six months before the examination date for each module. Additionally, the PMI provides a one or two day lecture programme in London preparing Students for the Module One and Two examinations. The course consists of one or two full day sessions, a mock examination and feedback throughout the study period leading up to the examination. HOW IS IT ASSESSED? Assessment of the Diploma is solely by examination: International 1 which is a 2 hour written examination comprising of multiple choice and short questions. International 2 which is a 3 hour written examination comprising of short and longer length questions. Past papers and examiners reports can be found on the PMI website. WHEN AND WHERE DO THE EXAMINATIONS TAKE PLACE? The Module One examination takes place in April and October and the Module Two examination takes place in April each year. The examinations for both Modules can be sat at centres worldwide. A full list of examination centres and the examination entry form are available on the PMI website. HOW DO I REGISTER? You will need to complete the relevant form(s) which can be downloaded from the PMI website. Please note it is not necessary to register as a Student Member of the PMI to attain the Diploma however people may do so to 3
DIPLOMA IN INTERNATIONAL receive a range of publications and other benefits, or to pursue further PMI studies. HOW DOES IT FIT INTO THE PMI QUALIFICATIONS FRAMEWORK? The Diploma is part of the PMI qualifications framework and passing the examinations gives credits for anyone interested in pursuing further PMI studies. Module 1 is part of the Core Units and Module 2 is part of the Specialist Units in the PMI s examinations structure. Full details of the framework can be found on the PMI website. FURTHER INFORMATION/ANY QUERIES? For further details visit the PMI website at www.pensions-pmi. org.uk or contact qualifications@pensions-pmi.org.uk Alternatively visit the website at www.ieba.org.uk or contact educmtee@ieba.org.uk The PMI is the professional body which supports and develops the experts who run UK pension schemes. It has the broadest skills base of pensions professionals and trustees in the UK, with some 6,500 members dedicated to establishing, maintaining and advancing the highest levels of pensions knowledge. Diploma in Benefits providing a right to usage of the qualification title: Diploma in Benefits (Dip IEB) is an association providing education, information and professional development opportunities in the constantly evolving world of international employee benefits. In addition to the development of the International Diploma and the Certified Practitioner Accreditation, s objectives are to facilitate the exchange of information between its members on matters relating to international employee benefits; take any appropriate collective action on matters relating to these benefits; and maintain liaison and exchange views and information with other organisations in the same field. Membership of is open to anyone with an interest in international employee benefits, regardless of country of residence. A year s free membership is offered to those studying for the Diploma or attending an Annual Conference for the first time. For up to date information on visit www.ieba.org.uk PMI members are responsible for managing and advising some of the largest institutions in the world and taking key decisions on substantial financial matters. With some 1 trillion invested in UK pensions, PMI members have a vital role to play in shaping the nation s financial future. With almost 40 years of successful operation behind it, the PMI is an organisation at the cutting edge of pensions. For full details of PMI s qualifications, membership grades and ongoing support services visit www.pensions-pmi.org.uk 4
DIPLOMA IN INTERNATIONAL 4 VALUES WHICH DIFFERENTIATE 1 INTERNATIONAL The () is a platform for people with an active role in the field of international employee benefits. It offers membership to representatives from multinational companies, providers and the consulting community. 2 EDUCATION AND NETWORKING offers two distinct formal accreditations in international employee benefits: the Diploma, and the Certified Practitioner. In addition, offers informal educational opportunity through the provision of reference materials, tutorial courses, on-line learning, webinars, a highly successful annual conference and regular local branch events. Education and knowledge sharing is the fundamental vocation of which has led to an increasing presence of local branches worldwide, each one conducting an active local events programme. In the same way education and networking is also the central and sole objective of the highly successful annual conference. An open and collaborative like-mindedness is reflected in a common international sense of purpose to share knowledge and best practice. Alongside education, networking and intellectual exchange provide further added value to membership. 3 IMPARTIAL AND NON COMMERCIAL A structural strength of is that of independence and neutrality allowing for fair and inclusive commentary from all parties involved in the field of international employee benefits. 4 NOT FOR PROFIT A not-for-profit mentality is a key factor and helps provide value for money. This helps keep membership fees and the fees for the annual conference at a low level. A major objective of is to encourage maximum participation by the international employee benefit community in its educational activities without regard to profit. is greatly assisted in achieving this goal by the generous support of sponsors from the employee benefit industry. 5