benjaminfabi
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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…
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Thanks to everyone who chipped in on this I've now got a nice stack of reading for the weekend!!
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We've been trying for over six months to get these as we have a large Barclays office nearby and have a number of clients in the scheme. The trustees have told the Willis Towers Watson admin team not to release them because they can change and they …
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Also, if you have a desire to be an adviser then I can understand why the diploma is the focus of the sponsor. However, if you intend to remain as a paraplanner for some time then you could challenge that. Or, perhaps ask them to reimburse you for J…
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I'd order the exams as best fits the type of work you do. So if you don't deal with protection much, do that later. Better to get experience of the exams in the areas where the syllabus has a daily practical application. Then, when you are studying …
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That's the one I used to claim. I didn't claim anything else.
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I listened to this on Saturday and it is well worth your time.
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You can't buy added years and I don't think it interacts in any way with main scheme benefits, including using it to provide the PCLS. Not sure if pension freedoms will have affected this though (but can't see why it would). I always ring a provid…
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Yes I'd come along to that