GBST adds annuity functionality
(WorldNews Politics)

12 September 2017 GBST, which provides wealth administration software through its GBST Composer® platform, has upgraded its technology for wrap and platform providers to include new standalone annuity functionality to offer providers greater flexibility following pension freedoms. The new standalone annuity product can be accessed via the Open Market Option (OMO), Immediate Vesting Pension (IVP) or a combination of both. In each case, multiple transfers from ceding schemes can be used to purchase one standalone annuity and a portion of the pension can be taken as tax-free cash. The new product enhances the process of administering annuities on the GBST platforming, including: Flexibility...