Please click on the questions below to show our response to the question...
How accurate are the calculations?
The calculations are very accurate and we seek verification from providers for our results on a regular basis.
Does the system provide SMPI and ‘Real Rates’ comparison, and cater for ceding scheme statements showing varying rates?
Yes, the system provides comparisons for SMPI, Real Rates and Monetary Growth Rates. These rates can be entered as per the ceding scheme, or averages can be created where different funds specify different growth rates.
How can I compare several existing pensions, when the various Providers give statements at different Growth Rates?
The Multi Transfer Wizard will compare each plan on a like-for-like basis initially, and for the amalgamated result it will create 'average' Growth Rates by which to compare.
I have only been provided with an Annuity figure from the existing pension scheme, can I use this in my comparison?
No, the Money Purchase TVAS can only use fund projection figures from the ceding scheme. Approximate Fund Values can be produced from the annuity figures given using the Retirement Planner calculator.
Can I include a plan with ongoing contributions?
Yes, the Multi Transfer Wizard will allow you to assess paid-up plans and can include a plan with ongoing contributions.
Does the system only provide an amalgamated comparison?
No, both on screen and in the PDF report, there is an individual analysis for each ceding scheme, as well as an amalgamated result.
How many existing schemes can be transferred in one report?
An unlimited number of existing plans can be used for comparison.
Can I produce an analysis at different Retirement Ages?
Yes, you will need to obtain projections at both ages from the existing scheme(s) though.
Having run an analysis on your system, I've gone to the provider for a quote, and the projections don't match- why is this?
This could be due to a number of reasons- the most common being that the calculation date which the ceding scheme is running from on our system is different to that on the quote from the new provider- if the quotes are in different months, the results will not match. Also, the projections may be running on different growth rates.
Why are certain plans showing as unavailable?
This could be due to either the transfer not meeting the minimum plan criteria (please see Plan Charges and Commissions page for details), the fund selection not being available, or the commission chosen not being available by the provider/plan. If you have special terms with the provider, and know that they will accept a transfer which is normally below their minimum criteria, you can select the plan as "pre-existing" to waive these minimums.
I am transferring more than one existing scheme- why does the total of the plans being transferred individually not add up to the consolidated total?
This will be due to the plan having large fund discounts, which highlights the advantages of consolidating several existing pension plans.