Defined Benefit Transfer
The Selectapension Defined Benefit Transfer analysis tool allows you to run an in-depth comparison as part of your APTA for your clients, using up to date FCA assumptions providing:
- Single and joint life critical yields.
- Death Benefit comparison.
- Hurdle Rate.
- PPF Yields including death benefits and Long Service Cap.
- Option to build and maintain fund portfolios.
- Ability to filter by features and financial strength.
- Income modelling enables you to compare an existing Defined Benefit scheme with other alternative arrangements, including State Pension, bonds, ISAs, collectives, annuities and other pensions and assets.
- Transfer Value Comparator (TVC) analysis.
- Lifetime Allowance calculator.
- Includes a Suitability Report Summary, allowing for a comparison to both a Workplace Pension and any Defined Contribution scheme.
- Ability to create bespoke Workplace Pension Plans.
- Option to create an Abridged Advice Report.
TRANSFER VALUE COMPARATOR (TVC)
- Complies with PS20/6 mandates & COBS 19.1.3A.
- Option to print as a stand alone report or within main analysis report.
INCOME MODELLING FEATURE
- Enables an income comparison between an existing DB scheme and other alternative arrangements.
- Includes State Pension, bonds, ISAs, collectives, annuities, and other guaranteed income sources and assets.
- Gives an option to specify the encashment order of funds to meet the target income.
- Allows different specified growth rates to be applied to different assets.
- Critical yield analysis giving the growth required to achieve the target income, and the option to specify an alternative target income.
- Demonstrates income returns over time
LIFETIME ALLOWANCE FEATURE
- Users are able to model scheme comparisons and critical yields taking into account Lifetime Allowance.
- Calculates the notional value of the occupational scheme using a multiplying factor of 20 (as per HMRC rules).
- Compares to the Lifetime Allowance to determine if there has been a breach. Client report will always have Lifetime Allowance information regardless of whether there is a breach or not.
- Selectapension system increases the Lifetime Allowance each year by the rise in the CPI as set out by the regulator.
Full training and ongoing telephone support are included with this subscription.We have a range of DFM strategies and model portfolios to select.
For further information
- Download Sample Report
Optional Bulk Upload Feature for Defined Benefit
What is it?
The bulk upload feature allows users to import multiple clients and their defined benefit scheme data in one go by simply completing a downloadable CSV template and uploading it into the Selectapension platform.
The system automatically maps and pre-populates the required fields within the Selectapension Defined Benefit analysis tool ready for completion.
The bulk upload feature is an optional extra and saves users hours of administrative time.What are the benefits?
The benefits of the bulk upload are:
Who is it for?
- Speeds up analysis process for multiple members within the same scheme.
- Ideal when dealing with multiple clients with multiple occupational schemes.
- Saves time and streamlines processes.
The Bulk Upload feature is ideal for:
How much does it cost?
- Specialist pension transfer firms.
- Pension scheme trustees.
- Employee benefits companies.
The Bulk Upload feature for Defined Benefit is available as an optional add on module to Defined Benefit subscriptions.
To request pricing information or a demonstration please contact Selectapension on 01892 669494 or email email@example.com.
Splitting out the projection benefits is so helpful, and the minor changes to how the fund and plan fees are displayed are much better "