We have been supporting customers undertaking redress calculations for over a decade on a wide variety of advice types, for example:
Pensions – whether this is a switch, a transfer from a DB scheme into DC, pensions in divorce or early retirement.
Mortgages – Endowments or other investment vehicles.
Investments – ISAs, UCIS and CIPS.
Audit – check the robustness of your calculation tool.
Our calculator incorporates the WMA indices and our results include automated reports, assumptions documents, as well as spreadsheets for non-standard modelling. We have developed a standardised set of procedures and a technical manual for redress calculations, which are used when clients lack their own and they also function as a useful reference point if gaps or mistakes are identified in client procedures.
In addition to our calculations capability, we have also developed Scheme Analyses for the Top 600 Schemes, which is an integral part of our Manager software. We have also created a library of scheme information on nearly 20,000 further schemes, which is stored electronically. This scheme library is constantly being updated by the Team and is an invaluable resource in respect of pension calculations, as it creates efficiencies and cost savings throughout the process. The Scheme Library is unique to us; no other organisation has such a comprehensive or detailed repository of scheme information.