Over 25 years of redress calculator development expertise
Our defined benefit (“DB”) pension transfer value calculator and derivative valuation calculator have been developed and maintained by Congruent for use by our own consultants, our software is designed to meet the needs of a wide range of financial, risk and compliance reporting requirements providing accurate and compliant calculations in line with the most up to date accounting and regulatory standards.
- DB Pension Transfer Redress
- Derivative Valuation
The software is available on a secure cloud platform under licence with full support and training.
- Intuitive, scenario-led inputs and data checks.
- Full audit trail where all runs uniquely referenced, stored and accessible.
- Centrally managed updates via secure replication.
- Standard and bespoke report generation.
The software is used on a daily basis by our own consultants and is also available for you to use under licence.
The DB Pension Transfer Redress calculator developed by us will assist the user to determine the amount of redress that is due if a complaint (received after 3 August 2016) is upheld about advice given to a customer to transfer all or part of the cash value of the accrued benefits under a Defined Benefit (“DB”) pension scheme into a money purchase arrangement. The calculation framework follows the methodology described in the Financial Conduct Authority (“FCA”) guidance note FG17/9.
Our Derivative Valuation calculators will determine the mark to market of GBP vanilla interest rate derivatives. Our models allow for the adjustments in tenor basis and any standard collateral arrangements in place. As well as current mark to market valuations we also offer our clients the ability to obtain reports using historical market data. The latter is particularly useful for financial and regulatory reporting purposes.