Categories Of Pension Products
From Open Risk Manual
Definition
Categories Of Pension Products. In the context of the Financial Competence Framework, Categories Of Pension Products is a topic in the Planning And Managing Finances subject matter domain.[1]
Competences
Mastering the role of Categories Of Pension Products in financial literacy context requires the following competences:
| Code | Competency Description | Competency Type |
|---|---|---|
| 254 | Knows who is entitled to a state pension and how much it is | Knowledge |
| 255 | Has a good understanding of the main types of public and private pensions available nationally | Knowledge |
| 256 | Knows the difference between optional and compulsory retirement savings, and the difference between occupational and individual schemes | Knowledge |
| 257 | Knows that in some jurisdictions people may be automatically enrolled into a pension | Knowledge |
| 258 | Knows whether opt-out is possible [where relevant] | Knowledge |
| 259 | Chooses among pension products or creates combinations of pension schemes to build an adequate retirement income, when possible | Skill |
References
- ↑ European Union/OECD (2022), Financial competence framework for adults in the European Union
