What is the PMI Award in Pension Trusteeship?
The APT is an Ofqual-regulated RQF Level 3 qualification from the Pensions Management Institute, worth 10 credits. It is assessed by a single multiple-choice exam covering trust law, pensions regulation, investment, funding and scheme governance. The same exam is Unit 1 of PMI’s Certificate in Pension Trusteeship.
How is the APT exam structured?
One exam of 60 multiple-choice questions in 90 minutes, with one mark per question. It is synoptic, so a single question can draw on more than one learning outcome. Your result is reported as a pass or a fail alongside your raw score and percentage.
What is the APT pass mark?
75%, which is 45 marks out of 60. That is higher than most Level 3 multiple-choice exams, so practising against a 70% threshold will leave you short.
How is the APT exam sat?
Online from home or your workplace, remotely proctored through TestReach, with a live proctor monitoring both you and your screen. PMI runs three public sittings a year, and the remaining public sitting in 2026 is 17 November. Employers can arrange private sittings for groups of at least ten candidates. Check the PMI website for current dates and entry deadlines.
How much does the APT cost?
PMI charges £617 for candidates who are not current student members. Current PMI student members pay £330, student membership costs £287 a year, and a physical certificate is an optional £85. Those were the published fees as at August 2026, so confirm the current figures with PMI before you book. Trustee Prep costs £9.99 a month and is separate from anything you pay PMI.
Do I need the APT to become an accredited professional trustee?
Both the APPT and PMI accreditation routes require a pass in CPT Unit 1, which is the APT. They also require completion of The Pensions Regulator’s Trustee Toolkit, a pass in CPT Unit 2, fit and proper checks, and ongoing CPD of 25 hours a year with at least 15 hours structured. Accreditation standards change, so confirm the current requirements with the body you are applying to.
Is the Trustee Toolkit enough on its own?
The Trustee Toolkit is free, official and required for accreditation, and it teaches the underlying material well. It is not built around the APT assessment criteria, and it does not put you in front of exam-style multiple-choice questions across the whole syllabus. Many candidates use the Toolkit to learn and a question bank to rehearse.
Do I need any qualifications or experience to sit the APT?
No. There are no entry requirements beyond holding PMI Student Membership, which is added to your exam entry if you do not already have it. PMI estimates 100 hours of total qualification time, most of which is self-study.
Does practice on Trustee Prep count towards my CPD?
We are not a CPD provider and we do not issue CPD certificates. Accredited professional trustees need 25 hours of CPD a year with at least 15 hours structured, and whether a given activity counts is a matter for your accrediting body. Use Trustee Prep to keep your technical knowledge current, and record CPD through the route your accreditation requires.
Is Trustee Prep affiliated with PMI?
No. Trustee Prep is an independent practice platform and is not affiliated with or endorsed by the Pensions Management Institute, the Association of Professional Pension Trustees or The Pensions Regulator. Book your exam directly with PMI.