Pension Data Item

Select from the drop-down list the data item containing the Fixed Pension Amount. This might have arisen from either a transfer-in or a past service CARE benefit.

Increase in Service

If the Benefit Basis is CARE, then this pension amount will be increased in service at the CARE Revaluation Rate.

If the Benefit Basis is Final Salary, then this pension amount will not be increased in service. (To value a fixed pension that increases in line with salaries, instead consider defining a salary equal to the pension amount and setting up a Slice with an accrual rate of 1/1 multiplied one year of service.

Increase in Deferment

This pension amount will be increased in deferment at the Revaluation in Deferment Rate specified on the Slices Tab. (The rate chosen will impact on the Early-Retirement Factors that are used.)

Note: A Pension Data Item and benefit accrual can be specified in the same Slice as long as they are on different Tiers. Alternatively they can be specified on different Slices.