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Pensions update

R08 (10 Diploma credits)

Unit withdrawal reminder - the final sitting for the R08 exam is August 2018. The unit will be withdrawn from sale on 15 August. When purchasing before this date, please ensure that you are able to book a convenient exam date and location before you make your purchase.

The objective of this unit is to develop knowledge and understanding of changes introduced by the Taxation of Pensions Act 2014, changes to the State pension provision from 06 April 2016 and the key factors to take into account when advising clients on their retirement income.

Download 2017-2018 syllabus »

Download a FREE specimen exam guide (exams sat between 1 September 2017 - 31 August 2018) »

Study material testing period

2017–18 editions are applicable to exams sat from 01 September 2017 to 31 August 2018.

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Enrolment – 2017–18 edition (applicable to exams sat 01 Sep 17 to 31 Aug 18)

Members
£140.00
Non-members
£190.00
Enrolment for R08 includes: study text (printed + ebook) with updates, RevisionMate, exam guide and exam entry

This includes a printed study text and ebook (available on RevisionMate) with electronic updates. Updates will be made available for the examination period to which the study text relates (further details are included on the title page of the study text). Developed to assist you in understanding and learning the exam syllabus, the text breaks down the syllabus into concise sections, with each chapter containing clearly defined learning outcomes and a series of self-test questions.

RevisionMate
You will have access to an unrivalled suite of online services to support your studies through our RevisionMate study tool. Please note: Access is granted until 31 Aug 2018 when this study text enrolment expires.

Support typically includes a study planner, a knowledge check (multiple-choice test) facility covering each chapter, student discussion forum, the latest examination guide and hints and tips on how to pass the exam. Full details will be provided with your study text.

Exam entry
Exams can be booked at the point of enrolment or at a later date.

ebooks
ebooks are compatible with most portable electronic devices including Android tablets/smart phones, Kindles and iPads/iPhones. They can also be viewed on desktop and laptop computers using appropriate EPUB/Kindle reader software (required).

ebooks are not pdf files and cannot be printed. The reading experience will depend on the portable device used or the reading software installed, if viewed on a computer.

Sample chapter download
To check that the file formats are compatible with your device/chosen e-reader software, click on the link below to download a sample.

• Free sample chapters

Examination guide

This consists of a specimen examination (with multiple-choice questions), answers and useful hints on how to prepare for the examination.


Enrolment for R08 includes: study text (printed + ebook) with updates, RevisionMate, exam guide and exam entry

This includes a printed study text and ebook (available on RevisionMate) with electronic updates. Updates will be made available for the examination period to which the study text relates (further details are included on the title page of the study text). Developed to assist you in understanding and learning the exam syllabus, the text breaks down the syllabus into concise sections, with each chapter containing clearly defined learning outcomes and a series of self-test questions.

RevisionMate
You will have access to an unrivalled suite of online services to support your studies through our RevisionMate study tool. Please note: Access is granted until 31 Aug 2018 when this study text enrolment expires.

Support typically includes a study planner, a knowledge check (multiple-choice test) facility covering each chapter, student discussion forum, the latest examination guide and hints and tips on how to pass the exam. Full details will be provided with your study text.

Exam entry
Exams can be booked at the point of enrolment or at a later date.

ebooks
ebooks are compatible with most portable electronic devices including Android tablets/smart phones, Kindles and iPads/iPhones. They can also be viewed on desktop and laptop computers using appropriate EPUB/Kindle reader software (required).

ebooks are not pdf files and cannot be printed. The reading experience will depend on the portable device used or the reading software installed, if viewed on a computer.

Sample chapter download
To check that the file formats are compatible with your device/chosen e-reader software, click on the link below to download a sample.

• Free sample chapters

Examination guide

This consists of a specimen examination (with multiple-choice questions), answers and useful hints on how to prepare for the examination.

Redeem exam voucher or book re-sit

Prices displayed apply to those who wish to purchase an exam re-sit. You can also book here if you have a valid exam voucher for which you will not be charged.

Members
£110.00
Non-members
£150.00
Unit R08 exam
 

Revision aids – 2017–18 editions (applicable to exams sat 01 Sep 17 to 31 Aug 18)

Members
£27.00
Non-members
£32.00
Question pack – 2017–18 edition (applicable to exams sat 01 Sep 17 to 31 Aug 18)

Delivered online through RevisionMate, the R08 question pack contain 135 questions, and provides comprehensive, flexible and interactive self-testing of the unit syllabus.

This edition is based on the 2017/18 tax year and exam syllabus which is examined from 01 September 2017 to 31 August 2018. Please note, access to the questions will not be granted after this period.

Instructions on how to access the online question pack will be sent to your registered email address within two working days of your order being placed.

Please note, questions are designed to test knowledge of the unit syllabus in preparation for the exam but are not a product of the same development process as the actual CII examination question bank.

Non-EU candidates should note: if buying this option from outside the EU, you will be charged a fee without VAT. The price you will see throughout the web checkout process will be inclusive of VAT, however if you are outside the EU, your card will be charged the 'ex VAT' price and this will be reflected in the receipt you receive when payment is complete.

Question pack – 2017–18 edition (applicable to exams sat 01 Sep 17 to 31 Aug 18)

Delivered online through RevisionMate, the R08 question pack contain 135 questions, and provides comprehensive, flexible and interactive self-testing of the unit syllabus.

This edition is based on the 2017/18 tax year and exam syllabus which is examined from 01 September 2017 to 31 August 2018. Please note, access to the questions will not be granted after this period.

Instructions on how to access the online question pack will be sent to your registered email address within two working days of your order being placed.

Please note, questions are designed to test knowledge of the unit syllabus in preparation for the exam but are not a product of the same development process as the actual CII examination question bank.

Non-EU candidates should note: if buying this option from outside the EU, you will be charged a fee without VAT. The price you will see throughout the web checkout process will be inclusive of VAT, however if you are outside the EU, your card will be charged the 'ex VAT' price and this will be reflected in the receipt you receive when payment is complete.

Members
£45.00
Non-members
£50.00
Audio revision – 2017–18 edition (applicable to exams sat 01 Sep 17 to 31 Aug 18)

R08 audio revision covers key elements of the syllabus and exam technique. MP3 files last for a total of 4.5 hours and are downloaded from RevisionMate. 

Produced by Patterson Audio, the 2017/18 edition is applicable to exams sat from 01 September 2017 to 31 August 2018. Please note, access to the audio course will not be granted after this period but downloaded files will never expire.

Instructions on how to download your audio material will be sent to your registered email address within 2 working days of your order being placed.

Non-EU candidates should note: if buying this option from outside the EU, you will be charged a fee without VAT. The price you will see throughout the web checkout process will be inclusive of VAT, however if you are outside the EU, your card will be charged the 'ex VAT' price and this will be reflected in the receipt you receive when payment is complete.

Audio revision – 2017–18 edition (applicable to exams sat 01 Sep 17 to 31 Aug 18)

R08 audio revision covers key elements of the syllabus and exam technique. MP3 files last for a total of 4.5 hours and are downloaded from RevisionMate. 

Produced by Patterson Audio, the 2017/18 edition is applicable to exams sat from 01 September 2017 to 31 August 2018. Please note, access to the audio course will not be granted after this period but downloaded files will never expire.

Instructions on how to download your audio material will be sent to your registered email address within 2 working days of your order being placed.

Non-EU candidates should note: if buying this option from outside the EU, you will be charged a fee without VAT. The price you will see throughout the web checkout process will be inclusive of VAT, however if you are outside the EU, your card will be charged the 'ex VAT' price and this will be reflected in the receipt you receive when payment is complete.

Study text renewal

Members
£15.00
Non-members
£20.00
Upgrade your study text (printed and ebook) to the next edition

We offer the option for you to extend the life of your enrolment once your course has expired and receive the next edition of the study text together with electronic updates. This option is renewable on an annual basis.

Upgrade your study text (printed and ebook) to the next edition

We offer the option for you to extend the life of your enrolment once your course has expired and receive the next edition of the study text together with electronic updates. This option is renewable on an annual basis.

Introduction

CII qualifications involve the completion of one or more units, each covering an individually assessed topic. Assessment methods vary and depend on a unit's level and subject matter.


Study and assessment methods include:

  • Multiple-choice question (MCQ) exam - Study is based on a specified enrolment period, from 01 January – 31 December. MCQ exams are available weekly at UK and select non-UK online exam centres, or twice-yearly in April and October at non-UK paper-based exam centres.
  • Written exams - Study is based on a 12 month enrolment period from the date of purchase. Written exams are held twice-yearly in April and October, with the exception of unit R06 which is tested four times-yearly, at UK and non-UK exam centres.
  • Coursework assessment - Study is based on a 12 month enrolment period from the date of purchase. Three written assignments, each typically between 2,000 - 3,000 words, need to be passed.
    Download Insurance Coursework assessment guidelines and instructions »
    Download Personal Finance Coursework assessment guidelines and instructions >>
    Download Personal Finance Coursework assignment guidelines and instructions »
  • Mixed assessment - Study is based on a 18 month enrolment period from the date of purchase. A combination of a single coursework assignment must be passed within the first six months and a MCQ exam passed within 18 months.
    Download Mixed Assessment guidelines and instructions »
  • Dissertation assessment - Study is based on a 18 month enrolment period from the date of purchase. A dissertation, typically between 10,000 - 11,000 words, on an agreed subject must be submitted.
    Download Dissertation guidelines and instructions »

It is essential that candidates familiarise themselves with the guidelines and instructions. Candidates should also familiarise themselves with the coursework and dissertation policies as well as exam policies before the assessment, and notes to results post-assessment.

Award in Pensions Update units

R08
Pensions update

Learning solutions update

These updates are Learning Solutions updates for study purposes.

2018-19 edition

Chancellor's Budget/Statement and tax table updates:

Pdf icon small Spring Statement 2018

Pdf icon small Tax Tables 2018-19

2017-18 edition

Pdf icon small R08 2017-18 edition changes

Pdf icon small Finance No. 2 Act 2017 Summary

Study text updates:

Pdf icon small R08_2017-18_web_update_3_14-02-2018

Pdf icon small MPAA_web_update_14-12-2017

Pdf icon small R08_2017-18_web_update_2_14-09-2017

Pdf icon small R08_2017-18_web_update_1_18-08-2017

Chancellor's Budget/Statement and tax table updates:

Pdf icon small Tax Tables 2017-2018

Pdf icon small Budget Summary Autumn 2017

Pdf icon small Budget Summary Spring 2017

Pdf icon small Update to budget summary 17-03-2017

 Other information:

Pdf icon small Financial services current editions

Qualification update

Testing Position

  • Examinations are based on the published syllabus. Syllabuses are available free of charge on the CII website www.cii.co.uk or on request.
  • Candidates will be examined on the basis of law and practice in England unless otherwise stated.
  • The R08 examination consists of 40 multiple choice questions (MCQs) and 1 case study, comprising of 5 MCQs. 1 hour is allowed for this examination.
  • The general rule is that legislative and industry changes will not be examined earlier than 3 months after they come into effect.
  • Candidates must keep up to date with legislative and industry changes that occur.

Tax year

  • The tax year 2017/2018 will be examined from 1 September 2017 until 31 August 2018.

2015 Emergency Budget

  • The emergency budget announced a number of changes proposed for the tax year 2017/18. Students should have an awareness of these announced changes in so far as they inform current thinking on financial planning, but students will not be expected to apply these rules in detail since they have yet to be effected and may be subject to change in the interim.  

EU referendum

On 23 June 2016, the UK voted to leave the European Union (EU).

The UK Government invoked 'Article 50' of the Lisbon Treaty on 29 March 2017. In doing so, the two-year negotiation period which will result in Britain leaving the EU began. This means that, at the time of publication, the UK's membership of the EU will cease on 29 March 2019.

Until this final 'withdrawal agreement' is entered into, the UK will continue to be a full member of the EU, compliant with all current rules and regulations, and firms must continue to abide by their obligations under UK law, including those derived from the EU, and continue with the implementation of all legislation that is still to come into effect.

The longer term impact of the decision to leave the EU on the UK's overall regulatory framework will depend, in part, on the relationship agreed between the UK Government and the EU to replace the UK's current membership at the end of the 'Article 50' negotiation period.

Please note: The UK decision to leave the European Union will have no impact on the 2017- 2018 CII syllabuses or exams. Changes that may affect future exam syllabuses will be announced as they arise. 

Money Purchase Annual Allowance

The Government has announced that the second 2017 Finance Bill to be introduced in the autumn will legislate for policies, such as the reduction of the Money Purchase Annual Allowance (MPAA), that have already been announced as applying from the start of the tax year 2017/2018.  The dates of application will be retained and applied as originally announced.  Examinations from the 1 September 2017 onwards will, therefore, test on the basis that the reduced MPAA applies for the 2017/2018 tax year.

 

General Data Protection Regulation (GDPR) 

The General Data Protection Regulation comes into effect on 25 May 2018 and examinations will be reflective of the regulation from 25 May 2018.

 

MiFID II 

MiFID II comes into effect on 3 January 2018 and examinations will be reflective of the directive from 3 April 2018.

 

Stamp Duty Land Tax

On the 22 November 2017, it was announced that first-time buyers would be relieved of Stamp Duty Land Tax for purchases up to a specified amount.  Examinations will be reflected of this change from 22 February 2018. 

Please note that the tax tables and lender’s criteria provided in the examination will state the thresholds and rates for purchasers who are NOT first-time buyers.

Exam guide update

The R08 Examination Guide for exams from 1 September 2016 to 31 August 2017 was first published in June 2016. Any questions which have been amended since the examination guide was first published will appear below.

 

Question 25 - amended 20-09-2016 »

 

Assessment information

It is important that candidates entering for a CII assessment familiarise themselves with our service, in particular the rules and procedures that are in place.