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Instant transfer comparisons with online pension technology

Legal & General and The Exchange are offering IFAs an online pension comparison system that performs immediate transfer calculations for money-purchase and final-salary pension schemes.

Called E-TVAS in the L&G version and TVAS on The Exchange, the system allows IFAs to input details of a client&#39s pension valuations and immediately calculate if it would be beneficial to switch to a different sort of pension.

Where the system recommends a switch, clients will need to conduct a full analysis before switching. The system is free to IFAs and is available online through L&G&#39s online IFA Centre or through The Exchange.

The Exchange offers a rapid calculation version for all IFAs and a full assessment version for pension specialists, creating a comprehensive report covering all aspects needed for a compliant assessment of a client&#39s transfer options.

L&G saw an 86 per cent increase in individual stakeholder annual premium business to £93m in the first half of this year from £50m for the same period last year.

Individual new business leapt by 57 per cent to £410 m in equivalent premium income for the half-year from £261m in the same period last year.

L&G pensions marketing director Lorraine Thompson says: “The E-TVAS system should ease the transfer advice process for the IFA.”

The Exchange portal operations manager Ian Noble says: “The two versions of TVAS add significantly to our suite of pension tools.”

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