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Standards Updates May 2016

Please see below for the latest updates and progress on our Standards. If you'd like further information on anything identified below please contact Karen.

New Standards Holders in May 2016

Third Financial Software

PSG Update

A PSG Meeting was held at Aviva's offices in York on 11th May 2016.

Key topics covered included meeting the needs of the Secondary Annuity Market, the Change Management Pilot, PSG Focus Sessions and the upcoming Prioritisation Exercise.

All documentation, including Minutes, is available to download from our website via the following link:-


Standards Update

Investment Switch and Redirect Notification


The Candidate Design was issued to the Working Group and an initial review carried out.  This document is expected to be signed off in June.

Plans for June:

Complete the Candidate Design and the Logical Data Model.  Following this, the Schema and MIG development work will begin.

Investment Switch and Redirect Instruction


Based on the discussion of the Problem Definition Report at the PSG meeting, Origo documented a PSG Proposal to be considered in the 2017 Prioritisation Exercise.

Plans for June:

No further activity required on this project.

Medical Underwriting Lists


Origo requires further detail on the ownership of the lists before it manages them, which is contingent on Industry input.

Plans for June:

The management of the lists will be discussed with the Annuity Provider Forum on 10th June 2016.

Change Management Pilot


Work has been progressed on Change Requests relating to Pension Protection, the segregation of assets between drawdown and non-drawdown in valuations, and the structure of the fund breakdown element in CE Collective Investments Valuations.

Plans for June:

Deliver Provisional Standards for these changes.

New Business Details Confirmation


An update was given to the PSG to the effect that the delivered Draft A Standards will not be progressed to Draft Final until Industry demand dictates, a position supported by PSG.

Plans for June:

Charge Servicing


The Charge Servicing Project kick-off meeting was held on 19th May 2016 to discuss the Terms of Reference.  Origo will perform work on the scope and demand for Charge Servicing Standards.  Origo therefore issued a brief questionnaire to the Working Group and other interested parties on the demand and to clarify the scope around commission.

Plans for June:

Collate responses from the questionnaire and publish the details on recommended next steps.

Documents Issued in May 2016

Investment Switch and Redirect Notification Business Requirements Document - Published on 5th May 2016

Investment Switch and Redirect Notification Candidate Design - Published on 26th May 2016

Investment Switch and Redirect Notification Points for Consideration - Published on 26th May 2016

Charge Servicing Terms of Reference - Published on 10th May 2016

Charge Servicing Project Initiation Document - Published on 10th May 2016


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