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Cashcalc launches TVC & APTA tool with help of Rory Percival

16 October 2018

Provider of cashflow planning software CashCalc has launched a TVC & APTA tool with the help of former FCA technical specialist Rory Percival.

The new tool will act as a standalone module and is designed to aid advisers navigate the complexities of defined benefit pension transfers.

Ray Adams, director and in-house chartered financial planner at CashCalc, said: “As a pension transfer specialist, I’ve accepted over the years that DB analysis is complicated. But it doesn’t need to be because we can build software to take away some of the complexity.”

The FCA’s revised guidance, introduced at the start of October, mandates all pension transfer specialists complete a transfer value comparator (TVC) along with an Appropriate Pension Transfer Analysis (APTA).

The former determines the current scheme’s transfer value and analyses the cost of replicating the current DB income in a defined contribution scheme.

The latter is designed to demonstrate to the client the suitability of why a transfer may or may not be in a client’s best interests.

Adams added: “The new TVC rules from the FCA are fantastic because before clients were simply comparing a small and a big figure. But now we can easily demonstrate what is required to buy these benefits and the system that we have built does that in a very nice, easy to understand way.”


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