Xplan Essentials (UK) - Defined Benefit/Final Salary Transfer Advice wizard - Feature Overview

[mary.galloway]

Overview

What is the Defined Benefit/Final Salary Transfer Advice wizard?

Following user feedback, a new wizard has been created allowing you to record a summary of transfer advice provided on defined benefit/final salary pensions.

Key Features

Scenario wizard

The scenario wizard allows you to record multiple instances of advice for a specific defined benefit/final salary pension, ie. first instance may have the outcome for abridged advice of ‘More information required’ and at a later stage full advice to ‘Transfer into workplace pension scheme’.  

The scenario wizard can be linked to a case, assisting with accurate compliance records.

It can also be locked for audit purposes.

Wizard

The wizard is blank by default.

There are two questions in relation to how the DB client was introduced to you:

The following three sections, triage, abridged and full advice, have been conditioned to display additional fields if the answer to the first question is Yes.

 

Triage offers a date field:

 

Abridged advice offers a date and two recommendations: 

• Recommendations: Do not transfer
• More information required

Full advice offers a date, three recommendations and three outcomes: 

• Recommendations: Transfer into adviser recommended product
• Transfer into workplace pension scheme
• Do not transfer

 

• Outcomes: Transferred into adviser recommended product
• Transferred into workplace pension scheme
• Did not transfer

Report output

The report output generates Word document as proof of the data recorded in the wizard.

 

 The document file name includes the scenario name, eg. 'DB Transfer dated xxxxxx  Scenario name’

Example: 

 

Xport

 An Xport has been created to help generate the results across your client bank named DB Transfer Advice.

TIP: to help you find a specific Xport, use Ctrl F to search for a word.  In this instance us Ctrl F + DB. 

The results should be generated as a CSV.  Once the CSV is download , add a filter to the spreadsheet based on the Scenario Group. Ensure only the Defined Benefit Transfer Advice option is ticked.