PAS has been providing review software since 1994 and our RECAL software was widely used throughout the industry during the Pension and FSAVC Reviews. Our software provides a rigorous comparison of the benefits lost and gained as a result of a course of action and calculates any redress due as a result.
The software can be used to calculate Actual or Prospective Loss as a result of:
- Transferring from an Occupational Pension Scheme
- Opting Out of an Occupational Pension Scheme
- Not Joining an Occupational Pension Scheme
- Taking out a Free Standing AVC
- Contracting Out of the State Scheme
The software can be used on historic review cases and ongoing pension related complaints.
Clients include the Regulators, leading pension providers, clearing banks, building societies, major outsourcers, and IFAs. The calculation software is user-friendly, yet performs comprehensive calculations and provides detailed results.
Scheme and product library facilities are provided so that schemes and products records can be saved and used for multiple assessments. Cases can be saved and rerun at a later date with updated pension values or any other parameter.
PAS works to keep its software compliant with governing UK legislation and provides regular assumption updates to manage this process.
PAS can also provide a service that runs calculations using our software for providers who don’t wish to maintain such expertise in-house and are happy to outsource this capability to a trusted supplier.
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DST Global Solutions launches new solution for Pension Switching Redress Calculations
March 09, 2011
DST Global Solutions announces today the launch of its online pension switching redress solution, RECAL-PSR. The offering is designed to calculate redress for investors inappropriately advised to ‘pension switch’ from one defined contribution pension to another.
