PPF Overrides: s143Parameters
Specify post 1 May 2014 s143 Mortality assumptions
Check this box if you are running a post 1 May 2014 S143 Valuation.
Once checked, the user will be required to enter a Heavy and a Light Mortality Table for use in the S143 Valuation and the appropriate adjustment factors. These will only be used in S143 valuations with an effective date after 1 May 2014. The central table will have been entered above in the Male and Female Mortality Rate Fields. Together these three tables will be used for male and female members based on their pension in relation to the Compensation Cap as set out in the PPF Guidance Notes. The S143 Heavy Table will be used for those with smaller pensions, the Mortality Rate Table for those with mid-sized pensions and the S143 Light Table for those with larger pensions. The split of members into one of these three groups will be undertaken in accordance with the guidance issued by the PPF.
Enter the adjustment to the table required in the % Rating field. To
reflect the current adjustment of 90% enter -10.
s143 Heavy Male Mortality Rates
s143 Light Male Mortality Rates
s143 Heavy Female Mortality Rates
s143 Light Female Mortality Rates
Double click to select one of the previously defined Rate Tables
containing the mortality assumption. The Rate Table will be a D Type
table (for non select rates) or a DS Type table (select rates).
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.
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.