Transfer Value Comparator (TVC) &

Appropriate Pension Transfer Analysis (APTA)

Developed alongside former FCA technical specialist Rory Percival, our TVC & APTA-compliant tool will allow you to provide good quality advice – ensuring your clients can make informed decisions.

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Special Offer: Throughout December and January you can get the TVC & APTA module for just £1/month + VAT if you're tied into a contract with another provider. Find out more

What is it?

The introduction of the FCA’s PS18/6 mandates are changing the Defined Benefit (DB) Pension Transfer environment.

In basic terms, TVC & APTA are new rules and guidance aimed at giving advisers a framework to better enable them to give good quality advice, enabling consumers to make rational, informed decisions.

Users of TVC & APTA will also gain access to a quick-start guide, detailing the process from start to finish.

Transfer Value Comparator

The TVC is a mandatory comparison of the transfer value offered, with the cost of securing the same safeguarded DB income through the purchase of an annuity in a DC scheme, where the result of a recommendation would be the purchase of an equivalent annuity.

Our tool provides you with easy-to-read visuals, so you can best demonstrate to your client how the existing scheme and the alternatives, may or may not achieve their objectives.

Our TVC tool:

Displays the Cash Equivalent Transfer Value (CETV) offered by the current safeguarded scheme
Shows the estimated value needed to replicate the client’s DB income
Death benefits comparison
Produce an automated TVC report
Access to a downloadable (.pdf) guide

Appropriate Pension Transfer Analysis

An effective APTA should help to demonstrate the suitability of your personal recommendation of why a transfer may not, or may, ultimately be in your client’s best interests.

This should be in consideration of a number of your client’s personal circumstances, such as their attitude to risk and tax implications, as well as making broader considerations of the compromises the client is making for a potential transfer.

Our APTA tool:

Pre-populates and pulls data from multiple sources, such as data-capture forms, client profiles and integrations
Generates up to 10 forecasts immediately
Create streamlined cashflows
Allows you to access enchanced comparison functionality
Seamlessly create reports detailing stage-by-stage progression
Access to a downloadable (.pdf) guide

How much will it cost?

We’re committed to providing good value across our entire suite of tools. If you’re already a CashCalc customer, then you can add our TVC/APTA tools to your package for just £30 per-month + VAT.

Take a look at our pricing for more information

Frequently Asked Questions

How can I trial TVC & APTA?

You can take out a 28-day free trial of our TVC & APTA tool in the Plans page, under My Account.

Can I book a demo?

You can view a pre-recorded demo in CashCalc TV.

To book a 1-to-1, group demo or to arrange an on-site visit, go to My Account.

How can I add it to my package?

You can add the TVC & APTA module and any other plans to your CashCalc package in the Plans section in My Account.

Can I download a sample report?

Yes, you can download all of our sample reports in the Resources section.

For more information please visit our Support section

Resources

TVC & APTA demo

TVC & APTA tool is now LIVE

Here's one reason why the TVC figure may vary between systems

Why have we built a TVC & APTA tool?

What is TVC & APTA?

Become a TVC/APTA beta tester

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TVC/APTA tool passes significant milestone

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CashCalc to launch TVC/ APTA tool

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CashCalc to launch modularised approach

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TVC/ APTA tool passes significant milestone

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CashCalc set to launch TVC/ APTA-compliant module

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Cashcalc enables users to create own suite of tools

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CashCalc revamps offering and launches new tool

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CashCalc offers standalone pension transfer tool

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CashCalc to launch TVC/APTA tool in collaboration with Rory Percival

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CashCalc to launch new pension transfer tool

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CashCalc teams up with Rory Percival on TVC tool launch

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We are introducing rules and guidance aimed at providing advisers with a framework which better enables them to give good quality advice so that consumers make better informed decisions

We are maintaining our guidance that an adviser should start from the assumption that a transfer will be unsuitable. This reflects the high proportion of unsuitable advice seen in supervisory work and need for further consideration of how transfer advice should be paid for. The existing guidance on the starting assumption does not, however, prevent an adviser from recommending a transfer where this can be demonstrated to be suitable for the consumer.

The new rules and guidance include:

- Personal recommendation: requiring all advice on pension transfers to be a personal recommendation.

- Role of the pension transfer specialist (PTS): clarifying the role of a PTS when checking advice.

- Analysis to support advice: replacing the current transfer value analysis (TVAS) requirement with the following: a requirement to undertake an 'appropriate pension transfer analysis' (APTA) of the client’s options; and a prescribed Transfer Value Comparator (TVC) indicating the value of the benefits being given up and the cost of purchasing the same income in a DC environment.

- Opt-outs: applying a consistent approach for pension opt-outs where there are potential safeguarded benefits.

Background

Defined Benefit (DB) pensions, and other safeguarded benefits providing guaranteed pension income, give valuable benefits so most consumers will be best advised to keep them. But we recognise the pensions environment is changing, particularly since the introduction of the pension freedoms gave consumers more options to access their pension savings. As a result, there is increased demand for pension transfer advice. Given this, we wanted to ensure that those providing regulated financial advice fully consider the client’s circumstances and properly consider the various options available to them.

Who this applies to

This policy statement will primarily be of interest to:

- firms advising on pension transfers

- those acting as pension transfer specialists

- pension providers

- those providing software for pension transfer advice

- consumer groups

The consultation may also be of interest to:

- employer sponsors of defined benefit pensions

- employee benefit consultants

- providers of qualifications

- providers of professional indemnity insurance

- other industry and professional bodies

Read the FCAs official page here

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