PensionsJul 18 2013

O&M system to allow income drawdown comparison

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O&M Systems has updated its web-based Pensions Profiler, allowing advisers to research, analyse and report on pension drawdown products.

O&M’s Pension Profiler now allows a comparison of drawdown products, maturity values, death benefits, type A and type B critical yields.

Once the comparison has been made, the results are printed in range of reports, intended to act as a technical appendix to support the adviser’s recommendation and suitability document.

Reports cover drawdown growth if the client opts to take their tax free cash (PCLS) and leaves their fund invested for the future, capped income and flexible income options.

Later this year reports will include projections for phased drawdown and drawdown switching.

Graham Miller, director of O&M Systems, said: “We re-launched Pensions Profiler in January 2013 using Microsoft Silverlight technology with an exciting new modern look and feel.

“Using our status as Microsoft Certified Partners we were able to draw on the knowledge available to us from Microsoft to ensure we delivered an easy to use, online solution without removing any the valuable features our users have become accustomed to over the past 20 years.

“Drawdown is a technical subject, so we focussed on what the adviser needs to help their client understand the proposition. The combination of quality graphics, meaningful figures and client friendly reports has created a compelling customer facing solution.”

Ray Chinn, income drawdown specialist at LV=, said: “We have reviewed the new drawdown capability of O&M Profiler, and in a market lacking in independent analysis systems, this is a welcome entrant.

“O&M Profiler provides an independent comparison of the market on a robust basis, and also enables advisers to assess the impact of lower fund growth rates that may be used for certain funds – which is incredibly useful for advisers working through future income scenarios with clients.”