In light of the upcoming Pension Reforms we are planning to release a major enhancement to the ATEB suitability software.

We plan to update the system on the evening of 5th April 2015 to ensure everything is in place for the return to work after the Easter weekend (and in time for the 2015/2016 tax year).

We will provide a detailed overview of the changes over the next couple of weeks, however in summary the main changes will be:

New ‘Retirement Advice’ Section
Merging of the ‘Planning for Your Retirement’ and ‘Options at Your Retirement’ sections into one ‘Retirement Advice’ section. This includes:

• – Changing ‘Drawdown Pensions’ to ‘Flexi-Access Drawdown’.
• – Adding the ability to fully ‘Review’ existing ‘Flexi-Access Drawdown’ plans,
• – Consolidating ‘Existing’ Pension Plan advice with ‘New’ Drawdown/Annity advice into one area making ‘At Retirement’ reports clearer.
• – Including the ability to take Pension ‘Withdrawals’ (UFPLS), from existing Pension Schemes.
• – Allowing ‘Encashments’ of an existing Pension (Triviallity).

New Product Areas
Adding the following new product areas:

• – Long Term Care Annuities
• – Fixed Term Annuities
• – Junior ISAs
• – Buy-To-Let Mortgages

Costs and Charges

• – Revising the ‘Cost of Our Services’ section to remove legacy Commission and Fee areas into one consolidated section.
• – Addition of a new ‘Charges’ option. This will create a full product charges summary for Investment and Retirement products in tabular format. This provies greater clarity of charges within your reports.

Additional Updates

• – Updating the ‘Glossary of Terms’ taking into consideration the allowances and limits for the 2015/2016 tax year and introducing some of the changes announced in the 2015 budget which will take effect later in the year.
• – Many more tweaks and enhancements.

This is a significant release that will help keep you up to date with important market and legislative changes. We continue with our commitment of providing the most comprehensive suitability software in the UK and we look forward to working with you over the coming year.

If you have any questions or queries please do not hesitate to contact us.