Independent self-invested personal pension (Sipp) provider Curtis Banks has launched a suite of tools to help advisers tackle complex pension calculations.
The tools and calculators have been developed in conjunction with fintech firm Dunstan Thomas, a subsidiary of the Curtis Banks Group.
The first three calculators, designed to assist advisers with the complex calculations relating to the annual allowance, salary sacrifice, and profit extraction, are available to use now on the Curtis Banks website:
- Annual allowance: this helps advisers calculate a client’s annual allowance for the year, including their carry forward allowance;
- Salary sacrifice: this shows the effect on a client’s take-home pay if they give up part of their salary in exchange for a pension contribution; and
- Profit extraction: this helps company directors compare options for taking the gross profits out of their businesses.
The calculators can be edited to account for factors such as the client’s assumed income tax rate and their location in the UK for tax purposes.
Curtis Banks has also confirmed that it intends to release further tools and calculators in the coming months and has invited advisers to share ideas and feedback for future developments.
Charles Dewey, head of sales at Curtis Banks, said: “Manual pension calculations can prove to be very complex and time intensive for advisers, and we’re pleased to be able to provide solutions by making use of the important technological resources we have within the Curtis Banks Group.
“The efficiency of these calculators should be immensely beneficial to advisers, and we look forward to working closely with them to develop and enhance our range of tools going forward.”
