SIPP operators must have in place the appropriate tools to produce Statutory Money Purchase Illustrations (SMPI) and new business illustrations in order to be compliant with FSA and DWP regulations.

SMPI Module

The SMPI module enables SIPP~Pro system users to produce Statutory Money Purchase Illustrations (SMPIs) in line with the Technical Memorandum 1 issued by the Board for Actuarial Standards.

The module uses the member data in SIPP~Pro to produce the SMPIs either individually or in bulk Users are able to produce standard and non-standard illustrations and the module takes into account user specific fee and fund charging structures, commitments to make regular contributions and fund splits between protected and non-protected rights.

New Business Illustration Module

The web based New Business Illustration Module enables SIPP~Pro users to produce a wide range of illustrations using variable growth rates and member specific charging bases for both protected and non-protected rights including:

~ Pre- retirement – either on a contribution only basis, transfer only basis or combination of both
~ Full drawdown – providing calculation of both Type A and Type B critical yields
~ Phased drawdown – including partial drawdown illustrations
~ Drawdown to drawdown transfers
~ Annual drawdown illustrations - either individually or in bulk for a found set of members

Multiple logins can be provided to users to give to key introducers to enable them to produce their own illustrations.