Code: 2.6.2 · Adults
Categories of pension products
Descriptors
Knowledge
What you can do at this level
- Kresiliencedaily-lifelarge-majority
Knows who is entitled to a state pension and how much it is
- Kresiliencedaily-lifelarge-majority
Has a good understanding of the main types of public and private pensions available nationally
- Kresiliencedaily-lifelarge-majority
Knows the difference between optional and compulsory retirement savings, and the difference between occupational and individual schemes
- Kresiliencedaily-lifelarge-majority
Knows that in some jurisdictions people may be automatically enrolled into a pension
- Kresiliencedaily-lifelarge-majority
Knows whether opt-out is possible (where relevant)
Skill
What you can do at this level
- Sresiliencedaily-lifelarge-majority
Chooses among pension products or creates combinations of pension schemes to build an adequate retirement income, when possible
- Learning outcome types
- K — What you need to know: theoretical understanding and factual information.
- S — What you can do: practical and technical abilities.