Latest News Summer 2010- Fund Choice and Defined Benefit TVAS

FUNDS AS THE KEY DRIVER

• The ability to run an analysis and research using preferred funds as the key criteria. This compliments the ability to choose ABI sectors and specific products/providers.
• Functionality will allow the User to pre-set their own preferred ‘list’ of funds they would like to use, and the results on the system will include only the  product(s) that  allow the chosen funds to be used.
• Therefore it will calculate the appropriate hierarchy of products in the results

DEFINED BENEFITS TVAS CHANGES

• Due to excellent User feedback we have made some cosmetic changes to the layout of the DB TVAS. Many of the fields that are not appropriate are hidden unless the User indicates that a specific element is applicable, for example ‘is the scheme contracted-out?’ If no then all contracted-out fields remain hidden and are only revealed if the answer is yes.
• In addition, we have introduced the ability to create a Defined Benefits scheme structure to varying ages.
• This is relevant when the scheme has changed its retirement age and therefore a member has benefits to say age 62 as well as age 65 under the one umbrella