UK - CTC, the specialist financial software and services provider, is promising to cut pension scheme costs by making its Pensions Analysis and Targeting System (PAT) available through the Internet.
The new ‘e-Pat’ system has been designed to handle the new Money Purchase Illustration rules from April 2003 and can provide benefits statements and retirement projections in real terms, or by using monetary terms.
Commenting, Nigel Chambers managing director of CTC said: “e-Pat will not remove the necessity for personal advice, however it will significantly cut costs and ensure members can do as much as possible for themselves with a further consequent increase in their understanding of the benefits they can expect.
By Madhu Kalia
Jonathan Stapleton asks whether newly-accredited professional trustees should be a statutory fixture on pension scheme boards.
Savers are being warned by the Insolvency Service to guard their pension pots from investment scammers and negligent trustees as it winds up 24 companies.
Respondents say they should only be required in certain situations as the system is not broken.