This video tutorial shows how to implement a post processing effect and blueprint interfaces in UE4 to get an effect when you pick up a specific item.
Before you do this you could watch Toggling Post Process Effects (by Totally Unreal, here: • Unreal Engine 4 Tutorial : Toggling Post P... ) and Interaction and Interfaces (by Tesla Dev, here: • Unreal Engine 4 Tutorial - Interaction & I... )