Congruent Calculations™

DB Pension Transfer Calculator

Our calculator 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 his safeguarded benefits into a money purchase arrangement. The calculation framework follows the methodology described in the Financial Conduct Authority (“FCA”) guidance note “FG17/9: Guidance for firms on how to calculate redress for unsuitable defined benefit transfers”.
  • the Transfer Value Comparator (“TVC”). For a DB pension transfer the advisor will now (as per 01 October 2018) need to provide the customer with a TVC. The TVC calculation is as per FCA policy statement PS18/6 “Advising on Pension Tranfers”.
  • a Cash Equivalent Transfer Value (“CETV”) calculation based on standard assumptions for defined benefit scheme. This follows our standard approach to calculate CETV and may be useful for benchmarking purposes.
Our user documentation for the redress calculation can be found here.

Please complete all required fields. If you have any further questions please contact our support team.