Questa protection specialist, Tom Reardon, has passed the Chartered Insurance Institute’s R04 Pensions and Retirement Planning exam, leaving two remaining units to complete the Level 4 Diploma in Regulated Financial Planning.

The R04 unit is a Level 4 qualification worth 15 credits towards the diploma pathway required to provide regulated retail financial advice in the UK. The exam covers pension taxation, retirement income options, state benefits, and the structure and regulation of defined benefit and defined contribution pension schemes.

Passing the exam means Tom has now completed four of the six required units for the diploma. The qualification framework was introduced following regulatory changes designed to raise professional standards across the financial advice sector.

Tom said: “I’m really pleased to have passed the R04 exam because it’s one of the more technical parts of the diploma pathway. It’s taken a lot of hard work and plenty of revision outside of work, but it feels good to see that effort paying off. 

“With only two exams left, the focus now is on finishing the diploma and continuing to build the knowledge that helps clients make informed decisions about their future.”

The CII Level 4 Diploma in Regulated Financial Planning is recognised by the Financial Conduct Authority as the benchmark qualification for advisers providing regulated financial advice. The R04 unit includes assessment of pension tax rules, retirement planning legislation, and the economic and social factors affecting retirement provision in the UK.

Recent changes to pension allowances and retirement legislation have increased the technical demands placed on financial advisers working with clients approaching retirement. Professional qualifications are used across the industry to demonstrate current knowledge and regulatory competence.

Anthony Hoskisson, Questa managing director, said: “We encourage everyone in the business to continue developing their technical knowledge because financial planning changes constantly, especially around pensions and retirement rules.

“Tom has put a huge amount of time into his studies alongside his day-to-day work, and passing R04 is an important step towards completing his diploma and supporting clients with up-to-date information.”

Tom will now continue studying towards the remaining two units required to complete the CII Level 4 Diploma in Regulated Financial Planning.