The annuity basis that is used in ‘no change’ quotes, and any other quotes that are not ‘what if’ quotes, are held in a section titled ‘Pension details’. This is accessed from a link on a pension sub account dashboard. After clicking on this link the pension details page then has an ‘Edit’ button, which when clicked gives you the ability to edit the annuity assumptions, as well as edit the selected retirement age for the uncrystallised sub account, and the annuity purchase age for the crystallised sub account(s). ‘What if’ quotes have the ability to input these details as part of the quote process.
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Answers in this section
- Is there a more appropriate means to compare charges than annuity purchase critical yield?
- Is annuity purchase critical yield the most appropriate measure to use with clients?
- Is there a means of producing a standalone annuity purchase critical yield calculation for crystallised sub accounts?
- Why does Old Mutual Wealth take all the charges for both crystallised and uncrystallised money from the crystallised sub account?
- Why does the annuity purchase critical yield on the last page of crystallised quotes look so high?
- Why is the reduction in yield higher/lower than expected?
- Why is the uncrystallised value at 5/10 years showing as zero?
- Why is there no uncrystallised value projected after the selected retirement age/date?
- Why is the ‘initial yearly income’ on my client’s yearly pension forecast much larger than in the previous forecast?
- Why has my client received two ‘yearly pension forecast’ statements within a few months of each other?