Delta Financial Systems Limited

New Delta Offices

The past few months have seen two new Delta offices.

Our new Birmingham office at One Victoria Square, just five minutes from New Street Station, is the new home to our Re-Platforming Project team. The central location is proving very popular with the team and has meant that we are more easily able to recruit contractor developers for fixed term assignments.

The surrender of the head lease by the management company at our Richmond office has given us the opportunity to move to a new central London office at 7 Hanover Square, London W1. This means that we now have a convenient location to meet with our clients and suppliers in central London.

Delta Financial Systems Limited

Report Designer Service

Our newly launched Report Designer Service has been very well received. The Support Team have provided quotations to a number of you in response to requests for customised documents from the Report Engine and are busy working on delivering a number of new reports over the coming weeks.

If you would like more information or to talk through your specific requirements please contact the Support Team on 0845 6800143.

Delta Financial Systems Limited

Functionality for Simple SIPPs

During the course of this year we have seen a notable trend towards ‘Simple SIPPs’ with a number of you seeking to develop simplified products with limited investment options. The introduction of auto enrolment has also led to the development of corporate SIPP products aimed at small to medium sized employers to replace Nest.

We have a range of functionality to enable you to facilitate these schemes including:

  • An Online Application Form where advisers or members can complete application forms online with the automatic creation of SIPP~Pro records. If you have developed your own online form we can provide a Member Data Import Module to enable the import of data to create SIPP~Pro records;
  • Bulk Contribution Routine enabling the auto creation of regular contribution records;
  • Generic Investment Feed Module whereby portfolio values can be updated for any number of investments on a regular basis.

We are working with a number of you to develop more straight through processing to keep manual processing to a minimum and would welcome any feedback you might have on areas where we can help you.

Delta Financial Systems Limited

Forthcoming Functionality – Real Time Information for Payroll

We have received notification from HMRC that there will be further changes required to Real Time Information reporting in April 2014. We are currently examining the implications of these before undertaking development. We will be in touch with our clients using the Payroll Module to provide more information in the coming months.

Delta Financial Systems Limited

Changes to SMPI Module

The changes announced in the Financial Reporting Council’s release of Version 3.0 of TM1 in 2012 introduced some significant changes to SMPIs to be adopted by 6th April 2014. These will affect the underlying calculations and the resulting output.

At this stage we anticipate making changes to the SMPI Module to accommodate:

  • The inclusion of three tiers of charges; product, investment and adviser;
  • Linking of growth rates to SIPP~Pro asset classes;
  • Changes to the output as per the Technical Memorandum.

These enhancements will be made to the DMM SMPI Module only and we therefore intend to disable the production of SMPIs from within the FileMaker code of SIPP~Pro from the March 2014 release. If you would like more information about the DMM SMPI Module please contact our Support Team and they will be happy to help.

Delta Financial Systems Limited

Product Sales Data Reporting – New Type 21 category

The FCA has introduced a new Type 21 category for Product Sales Data (PSD) reporting relating to transactions where a SIPP member opts out from auto-enrolment. We are currently considering how this will be incorporated into the existing PSD reporting in SIPP~Pro with the view to adding it at the next upgrade.

If you require any help with recording and reporting Type 21 transactions in the meantime please contact the Support team on 0845 6800143.