benjaminfabi
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Yes that's how I understand it.
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First off if any part of this plan is going to be transferred to provide flexible benefits, then any advice about taking the benefits from this scheme must be given or checked by a pension transfer specialist. As for the specifics of the case, it s…
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I'd say that's a good fit, especially as they are both multiple choice. If you have an employer willing to fund it, or can yourself, I'd also do J12 (also MC) at the same time, as J10 and J12 have a lot of crossover. With that done, then get AF4 un…
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Hi, Here's a decent looking link with some information about the NI Local Government Scheme. I'd say that based on this it isn't capped. I assume that any scheme holding itself out to follow the act you've cited will have the same increases. https…
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Hi Carly I haven't done J09 but I'd suggest getting R02 and R03 under your belt first for the knowledge they'll give you. Reading the specification it looks like a challenging exam for someone without any foundation qualifications. Good luck with …
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Hi If it were me, and I was going to continue to keep the aum with corresponding ongoing fee, I would probably not charge. Unless there is new money from life cover or similar, in which case I would offer a significant discount or, as you say, a fi…
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Jona said: Above all it appears to me that good, experienced, paraplanners are fairly thin on the ground. We are also focusing on internal development and training more - good administrators have the potential to be excellent paraplanners. …
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Hi Katherine, It's not easy. It took me five months at the start of this year to find the right person. We only had three to interview stage from about 6 CVs. Location is a good hook. Turns out not many folk fancy a daily commute to Crewe! I suspec…
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Biggest issue to cover off is why you are using a ssas instead of a group SIPP with another provider.
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Yes they should. Standard Life does as I dealt with a case on the SL Wrap last year. But it will only refund the net contribution. You can't refund investment growth as that's an unauthorised payment. I had no indication of whether there would be …
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My understanding is that: If you exceed relievable limits but do not breach your annual allowance, then you are ok to declare it to your pension provider and ask for the position to be corrected. If you've completed a tax return then it will also b…
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I'd booked but I've cancelled. Partly because there is another internal training event that I'd rather attend, but really that was just the excuse I needed because I don't like the timing. It's very much geared to people who are coming from afar and…
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Suse1969 said: Great thread guys - interesting to see the different ways we're applying the software (although I have to admit to doing a spreadsheet this morning for a quick triage exercise). You can't beat a good spreadsheet
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We use Voyant. There's a free trial available. It's brilliant for modelling income sustainability and what if scenarios eg transfer or stay in the DB scheme
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I'd say that as soon as it costs more then you need to start documenting why the extra cost is worth paying. If you are recommending something that is so much more expensive than what they already have then you have to start asking whether what you'…
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We bind the report together with all the enclosures, KFD, factsheets etc. But our reports are between 6 and 15 pages so binding them on their own would be a bit silly. Immediately before we bind it, the 'pack' gets scanned into the system. That way…
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Well I know from having worked with them how good the guys at O&M are. I'm not saying that you shouldn't check it, but you're using people who I reckon are the best. I'd use their system if it wasn't about 5 times the price!
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I'd be with you in the latter camp. The TVAS is a fundamental regulatory document underpinning specifically a DB transfer recommendation. Anyone who is happy to rely on this unchecked and give advice is playing a dangerous game. If they are paid f…
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I'm happy for you to split hairs Richard We can agree to disagree.
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It's not advice because you aren't making a personal recommendation to transfer the xyz DB pension benefits to the abc personal pension plan invested in the such and such fund. You're saying... You have x income need in retirement and this partic…
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I'd say that's the best way to think about it @Calvert76. Give the DB the strength ie 'an extra degree of certainty'. You can take that a step further. Ask the client what she thinks about the security offered by the DB. Frame that within her enti…
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Use the triage process @Hucko linked properly; understand what it is there for. What you're trying to do with triage is determine if the client should be looking at a DB transfer. Is it necessary to take them through a fully chargeable piece of ad…
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We use the same as Susan. iO and Volume. Works well. Volume can be sectioned easily but if you use it make sure you have mapped out properly from the start. Saves time later.
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Hi I sat J10 and J12 in a day in May. These are both multiple choice so a different proposition entirely. It wasn't too bad. I think I'd probably do AF1 and J02 on the same day as the AF paper is the first one. It's the same syllabus so I'd say go…
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I would work on the basis that if the premiums are eligible for tax relief then the benefit will be treated as a BCE
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Agree with Tom.
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Hi Catherine, If a member has scheme specific protection on the lump sum, they can take the lesser of the revalued protected amount and the LTA they have available as a pcls. Order of crystallisation isn't relevant. Have you got any real life va…
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I hate investment decisions. So boring. "Client wants a risk x fund in their pension" is the servicing request I least look forward to
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Hi Peter I think that the position has to be to establish if the client is fit for consideration for a transfer. If you are registered with Standard Life they have a great 'triage placemat' in the business support section. This can be used to have …
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That's reassuring because my current assumption at nrd, based on the known factor at 57, is 19.4 The simple reality is that we must make assumptions. The key is to document what and why. System limitations in the TVAS software have a major impac…