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Thursday, February 1, 2024

Curtis Banks provides pension calculation instruments

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SIPP supplier Curtis Banks has added a sequence of instruments and calculators to assist Monetary Planners sort out complicated pension calculations.

The primary three calculators are actually accessible on the Curtis Banks web site.

The annual allowance calculator helps advisers to calculate a shopper’s annual allowance for the 12 months, together with their carry ahead allowance.

The wage sacrifice calculator exhibits the impact on a shopper’s take-home pay if they offer up a part of their wage in trade for a pension contribution.

The revenue extraction calculator helps advisers evaluate choices for firm administrators for taking the gross earnings out of their enterprise.

The calculators could be edited to account for components together with the shopper’s revenue tax price and their location.

The instruments have been developed along with subsidiary, fintech agency Dunstan Thomas.

Rahul Gupta, director at Acorn to Oaks Monetary Providers, mentioned: “Finishing pension calculations could be complicated and time consuming, so instruments that may assist streamline issues are all the time welcome. Having calculators the place the inputs could be rapidly and simply amended assist us to effectively evaluate totally different situations and discover one of the best options for our purchasers.”

The SIPP supplier intends to launch additional instruments and calculators this 12 months, and has requested advisers to share concepts for future developments.

Curtis Banks has administered SIPPs and SSASs since 2009. It acquired Dunstan Thomas in 2020.

Dunstan Thomas confronted some important challenges in the course of the Coronavirus pandemic which impacted income and profitability however Curtis Banks mentioned it expects the agency to see important enchancment this 12 months.

The fintech mentioned it’s at the moment ‘on the cusp’ of unveiling a sequence of recent offings for pensions, platform and wealth administration markets. Additionally it is piloting quite a lot of native, cloud-based micro-services to help monetary recommendation and tax planning.

Curtis Banks reported a modest 4.7% rise in pre-tax earnings to £14m in 2021 as SIPP numbers fell 12 months on 12 months by 2,544. It blamed a excessive attrition price and the influence of Covid-19 for the autumn, and mentioned it anticipated restoration in SIPP numbers this 12 months. 


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