The DC pension calculator determines the adjusted market value as per FCA DISP App 4.2.7.G when the DC pension fund has received contributions (and other transfers not related to the relevant transfer) and it is necessary to remove the effect of those contributions. It also allows for withdrawals.
The calculator provides the subscriber with the following output:
- The adjusted market value for the relevant transfer
- Calibrated statistics based on a benchmark index selected by the subscriber from a range provided e.g. FTSE Indices, including relative returns, total returns and market volatility measures – this additional information is designed to provide a check on the completeness and integrity of the data available (for example that contributions / withdrawals have not been omitted in error or errors made in entering the data – the benchmark index is also used by the system to model the existing fund values at the time of each contribution because that information may not be available or may not be necessary to make the calculation); the functionality has been developed by Congruent for this purpose and is proprietary and has been signed off by another leading actuarial firm
- Breakdown of transfer, withdrawals and contributions including the split between taxable and non-taxable withdrawals. Withdrawals are rolled up to the valuation date (in accordance with the FCA requirements)
Non-subscribers can also access the above output reports by using our bespoke redress calculation services. Please contact Congruent for more information.
