HomeFinancial PlanningCurtis Banks adds pension calculation tools

Curtis Banks adds pension calculation tools

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SIPP provider Curtis Banks has added a series of tools and calculators to help Financial Planners tackle complex pension calculations.

The first three calculators are now available on the Curtis Banks website.

The annual allowance calculator helps advisers to calculate a client’s annual allowance for the year, including their carry forward allowance.

The salary sacrifice calculator shows the effect on a client’s take-home pay if they give up part of their salary in exchange for a pension contribution.

The profit extraction calculator helps advisers compare options for company directors for taking the gross profits out of their business.

The calculators can be edited to account for factors including the client’s income tax rate and their location.

The tools have been developed in conjunction with subsidiary, fintech firm Dunstan Thomas.

Rahul Gupta, director at Acorn to Oaks Financial Services, said: “Completing pension calculations can be complex and time consuming, so tools that can help streamline things are always welcome. Having calculators where the inputs can be quickly and easily amended help us to efficiently compare different scenarios and find the best solutions for our clients.”

The SIPP provider intends to release further tools and calculators this year, and has asked advisers to share ideas for future developments.

Curtis Banks has administered SIPPs and SSASs since 2009. It acquired Dunstan Thomas in 2020.

Dunstan Thomas faced some significant challenges during the Coronavirus pandemic which impacted revenue and profitability but Curtis Banks said it expects the firm to see significant improvement this year.

The fintech said it is currently ‘on the cusp’ of unveiling a series of new offings for pensions, platform and wealth management markets. It is also piloting a number of native, cloud-based micro-services to support financial advice and tax planning.

Curtis Banks reported a modest 4.7% rise in pre-tax profits to £14m in 2021 as SIPP numbers fell year on year by 2,544. It blamed a high attrition rate and the impact of Covid-19 for the fall, and said it expected recovery in SIPP numbers this year. 




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