Major Enhancement to Xtools+ - Super & Pension
Iress are rolling out a major enhancement to the way Super & Pension are modelled in Xtools+. This will allow greater flexibility in the way in which accounts are entered, contributions and transactions are performed, and will reduce manual workarounds needing to be performed in the Display pages.
A Big Win means modelling for a Client and/or Partner to have two Accumulation Funds, instead of the current limitation of a single Accumulation Fund and an Untaxed or SMSF Accumulation Fund will now be available.
What do you need to do?
In preparation for the upcoming changes being rolled out on 3rd June, we need to make all practices aware that if you are completing upcoming advice documents with Super and/or Pension modelling, these should be completed prior to the 3rd June and merged out, or started after the 3rd June for Xtools+ modelling.
The above is due to the rollout changing the input fields being used to complete the modelling. Opening an existing modelling scenario created prior to 3rd June you will need to retouch the details to correct these entries to allow modelling to continue.
Existing scenarios may no longer display the previously entered data in some of the input screens. Where this is the case, the information will be available in a new ‘Legacy Data’ screen.
Any manual transactions entered in the display screens prior to the 3rd June changes will be displayed as a $0 value. These fields include regular contributions to super, account-based pension contributions at commencement, rollovers between Accumulation, Untaxed, and SMSF accounts.
In order to retain the data in your existing scenarios, in its current form you, will need to lock the scenarios before 3rd June. From that date, these fields will be overridden with the $0 value.
Further information on the data that will be overridden can be found on the below Iress Community Article:
Now for the Good Stuff 😊
For a sneak peek at the new screens, we strongly recommend watching or attending the following resources:
Centrepoint Advice Tech Webinar: Xtools+ Updated Super & Pension Modelling 3rd June @ 11:00am (Syd Time)
Iress microlearning webinar: Noting you will need to login to the Iress Learning centre to access the video:
Course: Reinvented Super and Pension Modelling (19 Minutes)
Iress Xtools+ Reinvested Super and Pension Modelling live webinar 27 May 2025 @ 12:00pm (Syd Time): Also located in Iress Learning Centre and will need to register