Q Tech Solutions announce enhancement to Q Crit progamme and reduced fees for members of The QROPS Bureau
QTech Solutions provide members of The QROPS Bureau with calculators and reporting tools accessible through The QROPS Bureau's on line service platform.
In addition to the enhancements described below, Q Tech have recently reduced their fees for members of The QROPS Bureau. Q360 QROPS illustrations and Q Calc QNUPS funding calculations are now available for just £25. The Q Crit programme is now available for only £30.
QCrit is a web based calculator and has been designed to be a first-look analysis tool. Q Tech have recently enhanced the system and it now considers Provider, Investment and Adviser fee elements providing a more accurate gross critical yield. Advisers can now determine the suitability of a transfer before the cost of the full actuarial exercise. QCrit breaks down the myriad of inputs common to most other calculators into a summary of variables such as the client's pension fund transfer value, any GMP (Post and Pre 1988), Non-GMP, Income Tax Liability and PCLS entitlement etc.
The system uses 'live' annuity rates to calculate the fund growth required to provide an income similar to that of a final salary pension scheme (The Critical Yield) and produce a final summary report showing the gross and net critical yield. The report provides a side-by-side comparison of the projected income elements at normal retirement age for the defined benefits scheme and those of a QROPS. The report also illustrates an annual income (net of fees and income tax if appropriate) and fund capital breakdown from the first year of retirement or draw down for the duration of the Office of National Statistics (ONS) calculated income period.
A 2-page report is generated showing the assumptions that were made summarising and comparing the current pension benefits alongside that of the calculated projected QROPS benefits.
The report also illustrates the income from the fund (UK GAD Rates) and any income tax liability in each year alongside the fund capital remaining for the ONS calculated life expectancy of the client.
• Fast accurate results
• Reviewed by independent actuary
• Single page input with comprehensive help
• 24/7 Online access
• Clear concise branded reporting