The Association of British Insurers. The Options Transfers Service was developed by leading pensions and annuity providers and Origo with the objective of transforming the pension and annuity transfer process. The ABI helped to promote the service and publish the quarterly Performance Reports that publicly compare the providers using Options. http://www.abi.org.uk/
Ad-hoc Adviser Charge
A single Adviser charge for some specific advice or services outside of the initial or ongoing agreement. This may be referred to as an on-demand or one-off charge.
Ad-hoc Consultancy Charge
A single Consultancy Charge for some specific advice or services outside of the initial or ongoing agreement. This may be referred to as an on-demand or one-off charge.
Adviser Charge (AC)
Any form of charge payable by, or on behalf of, a client to an Adviser firm in relation to a personal recommendation in respect of a retail investment product.
Adviser Charge Agreement
The agreement between a client and an Adviser firm regarding the structure and level of charges which will be paid for the advice and services undertaken.
Adviser Charge Instruction (ACI)
An instruction from the client to the Product Provider to confirm the Adviser Charges to be facilitated by the Provider and paid to the Adviser firm. Instructions can be in whichever format a Provider believes is necessary to meet regulations and are acted upon only if proved valid to options supported by the Provider.
Adviser Charge Type
An initial, ongoing or ad-hoc charge.
Adviser/Consultancy Charge Facilitation Method
The methods available of how to facilitate the AC/CC, e.g.
a) Outside of product wrapper;
b) Deduction from a contribution before purchasing assets; and
c) Selling assets (dis-investment).
A Standard that was introduced as an interim solution in the drive to assist individual agencies identifying their agency number for a particular piece of business. Product Providers allocate agency numbers according to different criteria and each agency may have multiple agency numbers for multiple Product Providers.
The process commencing from October 2012 under which employees are made members of a pension scheme by an employer regardless of employee choice (they can subsequently opt-out).