Defined Benefit Transfers

Key Features

• Comprehensive comparison report, enabling you to evaluate the suitability of a Defined Benefit transfer.
• Includes all essential data for an APTA, from single and joint life critical yields, to hurdle rates; death benefit comparisons to PPF yields – together with the Transfer Value Comparator (TVC) analysis.
• The income modelling section enables comparison of the income of a current DB scheme with alternative arrangements, demonstrating the income returns over time.
• Compare multiple product types, including Platform comparison. Also analyse the underlying fund, portfolio, MPS or investment performance of a proposed new solution.
• Ability to create an Abridged Advice report without proceeding to a full advice process.

Defined Benefit Transfers

FAQs

What is Defined Benefit transfer software?
Defined Benefit transfer software helps financial advisers analyse a client’s existing Defined Benefit pension and compare the benefits of the current scheme against alternative arrangements. Selectapension Defined Benefit Transfers provides the analysis and reporting required to support a structured Defined Benefit transfer advice process.

Can I carry out an Appropriate Pension Transfer Analysis (APTA)?
Yes. Selectapension Defined Benefit Transfers supports Appropriate Pension Transfer Analysis (APTA), including critical yields, hurdle rates, death benefit comparisons, PPF yields and income modelling.

Can I produce a Transfer Value Comparator (TVC)?
Yes. Transfer Value Comparator (TVC) analysis is included within Selectapension Defined Benefit Transfers, helping advisers illustrate the value of the benefits being given up when considering a Defined Benefit pension transfer.

Can I compare a Defined Benefit pension with alternative retirement arrangements?
Yes. Selectapension enables advisers to compare the income provided by an existing Defined Benefit scheme against alternative arrangements over time. Advisers can also compare multiple product types and platforms and analyse the underlying fund, portfolio, MPS or investment performance of a proposed solution.

Can I calculate critical yields and hurdle rates?
Yes. Selectapension Defined Benefit Transfers includes single and joint life critical yields and hurdle rates, alongside other analysis used to support Defined Benefit transfer advice.

Can I produce an abridged advice report?
Yes. Selectapension Defined Benefit Transfers enables advisers to create an abridged advice report without proceeding through the full advice process.

Can I maintain a clear audit trail for Defined Benefit transfer cases?
Yes. Selectapension provides a structured record of the calculations, comparisons and analysis undertaken throughout the Defined Benefit transfer advice process, helping advisers maintain a clear audit trail to support their recommendation.

Can I purchase Defined Benefit Transfers as a standalone module?
Yes. Selectapension Defined Benefit Transfers can be purchased as a standalone module, so you do not need to subscribe to any other Selectapension software to use it.

Is the software kept up to date with FCA requirements?
Yes. Selectapension Defined Benefit Transfers is regularly updated to reflect FCA and APTA requirements, helping advisers carry out Defined Benefit transfer analysis using an up-to-date and structured process.