Can anyone help me to decide whether or not it is a good idea to take ST4 if all my experience is in life insurance? Am I at a major disadvantage taking this subject if I do not have any work related experience to draw from?
Hi Andy, have you ever worked in anything pensions related in your life experience? I think it would depend on how easily you would grasp the concepts of contribution rates and the funding of pension schemes. It may be hard if you've never used them in practice. I used to work in life and say I would have found ST4 much harder if I didn't have the practical experience. Hope this helps!
ST4 with no experience? Andy, it may be harder.... but then you won't have the disadvantage of UK specific knowledge! Which doesn't score you marks in the exam but we keep writing it anyway.... But I wouldn't day it is a disadvantage (any more than any other subject that you haven't studied before, e.g. if you hadn't seen statistical distributions before, CT3 wouldn't be so easy) as the course note provide all you need for the exam.
Depends on your motive in a way. If you want to do it because success rates are better (haven't looked so don't know), remember past isn't a guide to future. If you want to do it to diversify after qualifying then I'd say its a good move. Your interest will help you overcome any parts you may find tricky. Indeed many people who sit the ST in the subject they work in find it hard - they fall into the trap of not thinking outside the box and relying solely on office/UK experience Does your 'er have any say in what you sit? If you have a life background and they don't do pensions they may not like your choice. So the choice is yours
