Start Date for Underpin Guarantee
If the Benefits Underpinned box is checked, and for deferreds only the
Include in Underpin on the PUPs is set to
Split According to Service, then enter a Start Date for the Underpin
in DD/MM/YYYY format. If the Underpin has always applied simply enter a
date eg 01/01/1900 to ensure that all benefits are compared with the
Underpin.
Actives The user should select on each Slice whether or not the benefits calculated should be compared to the Underpin calculated. The Start Date for actives will also be used to determine the amount of GMP to be included in the Underpin comparison. In determining the amount of GMP included SuperVal will take account of:
- Pre-88 GMP accruing between 6/4/1978 and 5/4/1988
- Post-88 GMP accruing between 6/4/1988 and 5/4/1997. (Note 5/4/1997
will always be used instead of the
Not After Dateon theOffset Slice.)
Deferreds Please note the standard data item ACW will always be
used as the value of the underpin fund as at the valuation date. No
other data item can be specified for the underpin for Deferreds.