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.