Defined Benefit software and services provider O&M Pension Solutions has launched a new service to help advisers with retrospective DB transfer analysis.
This new service allows advisers to request reports that can be back-dated as far as 1st May 2012. These reports will be using the FSA/FCA rules and assumptions in force at the time and the report will be dated accordingly. O&M’s extensive library of scheme data and in house scheme knowledge may be able to fill any information gaps for these reports.
Firms who wish can take O&M’s FinCalc financial planning software and include the retrospective DB transfer analysis add-on, thus giving the user complete control in the production of these reports.
O&M confirmed that they have had numerous requests over the years through their Transfer Bureau Service for a retrospective DB transfer analysis for different reasons including past client reviews, compliance purposes and file tidy-ups.
Gavin Shears, Senior Consultant at O&M said:
“The number of requests for a retrospective report of this nature has risen over the last couple of years. Having the ability to run cases from the past, regardless of whether the case was originally run by O&M, will provide advisers with an option to produce a report at a retrospective date fully compliant with FCA COBs rules.”
This has been referenced in FTAdviser