TVAS Report

Jona

Does anyone know where I can get (free) access to a TVAS report?  LV= used to provide this but seem to have withdrawn it....?

Thanks

BecciJ

We have used LV in the past but were not aware that they had stopped providing them. Met Life and Scottish Widows will do TVASs as well. Just need to make sure you are happy with their assumptions and check through the data when the report comes through.

richallum

FREE TVAS KLAXON!

benjaminfabi

Please

Please

Please

Don't use 'free' TVAS reports.

The TVAS module of Selectapension is only £60 a month. Compared to the liability risk of a shonky one, it's a very small cost.

Jona

Totally agree with you - normal course of action is to get PTS sign off with TVAS and everything else supplied via our network but that is charged at £1,200+ per case. (anyone out there want to do it cheaper for us???).

In this instance client has a small DB (£8K TV) which when considered alongside the £0.5M+ SIPP is fairly small beer.

I was hoping to get a little more insight on the transfer via a free TVAS before I recommended the client incur the cost of full DB transfer review (effectively 15% of the DB TV value)...

Becci I'll have a look at MetLife / ScotWids; ta.

benjaminfabi

Well, that makes it more interesting.

I'd put that firmly into the 'not commercially viable to advise' bucket. Possibly worded as...

"We can't advise you on the potential transfer of your deferred benefits in the X scheme given the cost of our advice relative to the small CETV. You have the majority of your pension assets invested at your risk, dependent on investment performance of the underlying funds. Therefore, this small defined benefit can be retained with little or no impact to your overall planning.

There are risks involved with deferred benefits such as the X scheme [go on to include reference to whatever you currently use to outline employer insolvency and PPF etc]"

If you are preparing a cash flow, include the future DB scheme pension, as it will reduce the amount he needs from the FAD (albeit very minimal given the size)

Jona

Thanks, yep have kicked it back into the client's court - it'll cost you this but given everything else you have pretty inconsequential what you do with it when looking at your Voyant plan and what ifs.

Did think about swallowing the cost ourselves - but it's about 3 months fees.... as you say not commercially viable!

frances-ford

Prudential will do a free one, but they do make lots of assumptions so be sure to check carefully & go back and correct.

transfer.desk@prudential.co.uk

Suse1969

Old Mutual Wealth also offer a TVAS service.