Decrement Rates
Retirement Rates
This field is used to define the early/late retirement decrement rate at each age. All decrement rates entered are assumed to be independent. SuperVal will derive the dependent rates from these.
Actives
Double click to select from either an age related retirement
table (R type) or an age and service related retirement table (RM
type). The service start date used to calculate the duration of service
when applying RM type tables can be varied using the Date for
Durational Decrements field. To ignore
early/late retirement select the table R000which contains zero at all
ages. The table description will be shown to the right of this field.
Members who retire prior to NRA are assumed to retire half-way through the year. Members who retire at NRA or after are assumed to retire on the anniversary of the valuation date.
On reaching the NRA (or LRA if later) specified in the basis file, SuperVal will retire all members regardless of any entry in this table. Members who are over NRA (or LRA if later) at date of valuation will be assumed to retire immediately.
Deferreds
For deferred members, double click to select an age
related retirement table (R type). To ignore early retirement select
the table R000which contains zero at all ages. The table description
will be shown to the right of this field.
On reaching the NRA specified in the basis file, SuperVal will retire all members regardless of any entry in this table. Members who are over NRA at date of valuation will be assumed to retire immediately.
Note: The Late Retirement functionality is only available to some users.
Related
Decr Help
Rate tables can be selected by any of the following methods:
- Right-click on the field for a list of appropriate Rate Tables. For a field that will accept more than one type of Rate Table (e.g. Miscellaneous Tables), the list will be restricted to the current Table Type specified in the field – if you wish to see all allowable Rate Tables, delete the Table Type from the field before clicking; or
- Double Clicking on the field will produce the Rate Tables form where Rate Tables can be viewed (numerically and graphically) and Rate Tables can be added or edited. A Rate Table can be selected by pressing the Select button or double clicking on the Rate Table description in the tree; or
- the list of allowable Rate Tables can be scrolled through by
pressing the
<or>keys. The description of the Rate Table to the right of the field will change as each new Table is selected.
Age Rating
Any Rate Table can be rated up or down by a number of years as required
to make the rate at every age lighter or heavier than in the
original table.
A value of +10 will result, for example, in the value selected for a
30 year old actually being the rate for a 40 year old and for a value of
-5 would mean that the value at age 25 is selected.
If an age rating of a fraction of a year is required, a new table will have to be created through the Edit rate table option on the Rate Table form.
% Rating
A percentage adjustment can be made to either a Rate Table or a Salary.
The Rate Tables can be adjusted by a percentage loading to make the decrement rate lighter or heavier than the original table. The salary for new entrants can be loaded to reflect changes in the salary profile.
Enter the number as percentage above 100% i.e. if a loading of 110% is
required then enter 10 or if a loading of 90% then enter -10. If no
adjustment is required then leave blank.
Actives Ill-Health Retirement Rates
This field is used to define the ill-health retirement decrement at each age. All decrement rates entered are assumed to be independent. SuperVal will derive the dependent rates from these.
Double click to select from either an age related retirement table (I
type) or an age and service related table (IM type). The service start
date used to calculate the duration of service when applying IM type
tables can be varied using the Date for Durational
Decrements field. To ignore ill health
retirement select the table I000 which contains zeros at all ages.
The ill-health decrement is always assumed to take place half-way through the year.
Note: Not all options are available to all users.
Related
% Rating
A percentage adjustment can be made to either a Rate Table or a Salary.
The Rate Tables can be adjusted by a percentage loading to make the decrement rate lighter or heavier than the original table. The salary for new entrants can be loaded to reflect changes in the salary profile.
Enter the number as percentage above 100% i.e. if a loading of 110% is
required then enter 10 or if a loading of 90% then enter -10. If no
adjustment is required then leave blank.
Actives Leaving Service Rates
This field is used to define the withdrawal from active service decrement at each age. All decrement rates entered are assumed to be independent. SuperVal will derive the dependent rates from these.
Double click to select from either an age related withdrawal decrement
table (L type) or an age and service related table (LM type). The
service start date used to calculate the duration of service when
applying LM type tables can be varied using the Date for Durational
Decrements field. To ignore withdrawal from
active service select the table L000 which contains zero at all ages.
Note that a LM table should have rates entered for all durations of
service i.e. if defining a select withdrawal rate tables then this should
also have the ultimate rates entered for all future years of service.
The withdrawal decrement is always assumed to take place half-way through the year.
As an alternative to using LM type tables the L type tables can be
weighted by duration of service using the Duration Weighting fields.
Note: Not all functionality is available to all users.
Related
% Rating
A percentage adjustment can be made to either a Rate Table or a Salary.
The Rate Tables can be adjusted by a percentage loading to make the decrement rate lighter or heavier than the original table. The salary for new entrants can be loaded to reflect changes in the salary profile.
Enter the number as percentage above 100% i.e. if a loading of 110% is
required then enter 10 or if a loading of 90% then enter -10. If no
adjustment is required then leave blank.
Durational Weights
This field can be used to approximate select withdrawal rates. Double click to select the table containing the multiplier to apply at each duration. The duration will be calculated as the period from the member’s Date Joined Company.
For example, a duration related table with 2 at term 0 and 1
elsewhere would mean that the age-related withdrawal decrement was
doubled for the first year of Company service but normal thereafter.
To specify a withdrawal decrement that relates only to duration, set the
age-related withdrawal decrement to table W001 (i.e. 1 at all ages) and
enter the decrements here.
If you do not wish to adjust for duration select the table T000 here.
Related
Transfers Out Rates
This field is used to define the transfer-out decrement rate at each age (non-retirement ages). Decrement rates entered are assumed to be independent. SuperVal will derive the dependent rates from these.
Double-click to select from an age-related transfer table (TO type).
To ignore transfers out, select the table TO000which contains zero at all ages.
The table description will be shown to the right of this field.
Members who transfer out are assumed to exit half-way through the year.
Related
Age Rating
Any Rate Table can be rated up or down by a number of years as required
to make the rate at every age lighter or heavier than in the
original table.
A value of +10 will result, for example, in the value selected for a
30 year old actually being the rate for a 40 year old and for a value of
-5 would mean that the value at age 25 is selected.
If an age rating of a fraction of a year is required, a new table will have to be created through the Edit rate table option on the Rate Table form.
% Rating
A percentage adjustment can be made to either a Rate Table or a Salary.
The Rate Tables can be adjusted by a percentage loading to make the decrement rate lighter or heavier than the original table. The salary for new entrants can be loaded to reflect changes in the salary profile.
Enter the number as percentage above 100% i.e. if a loading of 110% is
required then enter 10 or if a loading of 90% then enter -10. If no
adjustment is required then leave blank.
Proportion of Retirees Transferring Out
This field is used to define the proportion of retirees who are transferring out at each retirement age.
Double-click to select from an age-related transfer table (TP type).
To ignore transfers out at retirement, select the table TP000which contains zero at all ages.
The table description will be shown to the right of this field.
Related
SaveAs
Click the Save As button to save with a new file name.
Save
Clicking on the Save button allows you to save the entries.
Quit
Clicking on the Quit button allows you to exit without saving any of your changes.
In some of the screens you will be asked to confirm if you want to exit Ignoring all changes. If you click Yes, the file will be closed without saving any changes. If you click No you will be returned to your original screen.
From the Browser, the Quit button will take you to a graphical display of the results.