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Snapshot Salary

Automatic Sex/Category Sub-File Creation

The sub-groups of membership data to be processed can be specified in one of two ways:

If the Automatic Sex/Category Sub-File Creation box is unchecked, the user will be asked to specify a list of data files (which have been previously created) containing the data for each of the sub-groups separately.

If the Automatic Sex/Category Sub-File Creation box is checked, the user will specify a single file (containing the data for all groups) and then select the sex and category combinations that you wish to be processed (sex/category sub-files will be automatically created).

Investigation Data File(s)

Investigation Data File

Double click to select the filename (or filenames, if appropriate) of the member data files to be processed.

Data files may contain inactive members (exits and members who have joined after the valuation date) as well as active members.

The file(s) must be in the format specified in the data format.

If specification of only one file is allowed, a list of the allowable files specified on the Scheme Details will be presented with a Right Click. Note that any filenames used on that list will be relative value, that is, the filename specified is controlled by the label to the right of the field. If the filename is changed on the Scheme Details then the filename in the saved parameters will also be change.

Data Format

Double click to select the Format File for the current Data File. The Format File contains the saved parameters specifying the column specification of each of the data items contained in the data file. Data format descriptions are prefixed by an indication of the type of format e.g. <Act> for Actives, <Def> for Deferreds, <Pen> for Pensioners.

If you intend to use the GMP Calculators to calculate GMPs after creating your data, ensure that columns are created in your data file for these fields. (In addition, enter dummy data into the data file for the first member that is at least as large as the largest expected GMP for all members. This will ensure that the Format created leaves sufficient space for the GMPs calculated.)

Data>Build

If you have created data using Data>Build then the format name will be the same as the original source (CSV) file.

BasisModule>Migrate

If you have migrated your data files from earlier versions the name will be unchanged.

Select by Sex

If the Select by Sex box is unchecked, the user will not see the sex listed in the Sex/Category selection below. The list will only show list of categories

If the Select by Category box is checked, the user will the sex listed in the Sex/Category selection below.

Select by Category

If the Select by Category box is unchecked, the user will not see the categories listed in the Sex/Category selection below. The list will only show Males and Females.

If the Select by Category box is checked, the user willsee the categories listed in the Sex/Category selection below.

Sex/Category Selections

Specify the category data you wish to use.

User may also select a blank category if they do not wish to run that particular category.

Calculation Date

The Calculation Date to which the investigation is performed.

This defaults to the Current Valuation Date. You can overwrite this if you wish as the investigation can be carried out at dates other than the valuation date provided there is sufficient data.

Dates can be entered in almost any format and they will be automatically converted to DD/MM/YYYY format.

Start Age

The Start Age is the minimum age at which investigation results will be output to the file (or in the review of the investigation, the graphical display).

Note that the results for all ages are calculated (and saved). The Start Age can be adjusted when reviewing the investigation results.

End Age

The End Age is the maximum age at which investigation results will be output to the file (or in the review of the investigation, the graphical display).

It is rounded to the next highest multiple of the Grouping of Data factor from the Start Age.

Note that the results for all ages are calculated (and saved). The End Age can be adjusted when reviewing the investigation results.

Grouping of Results - Every

The Grouping of Data factor determines the size of the age sub-divisions used to summarise investigation results output to the file (or in the review of the investigation, the graphical display).

Note that the results for all ages are calculated (and saved). The Grouping of Data factor can be adjusted when reviewing the investigation results.

Salary Definition

The analysis or investigation of the active membership data may be based on either the Current or Previous Salary.

Investigate Only Entrants between

The cohort of members to be investigated can be controlled by specifying two dates between which members must have joined to be included for investigation.

A date of 01/01/1901 and the Current Valuation Date as specified initially. This would include all members active at the Current Valuation Date in the investigation. Dates can be entered in almost any format and they will be automatically converted to DD/MM/YYYY format.

If your data records do not contain either of the joining dates, all members are investigated irrespective of these parameters.

These parameters enable:

  • investigation of the promotional salary scale durationally; or
  • to investigate, for example, only members who were in-force at the previous valuation date.

Pairs of Snapshot Salary investigation runs can be carried out to produce some comparable averages over the inter-valuation period.

To determine the increase in Average Scheme Salary over the inter-valuation period (increases due to inflation only) compare the averages from:

  1. Investigate members joining between 01/01/1901 and the Current Valuation Date based on Current Salary with a Calculation Date of the Current Valuation Date.
  2. Investigate members joining between 01/01/1901 and the Previous Valuation Date based on Previous Salary with a Calculation Date of the Previous Valuation Date.

To determine the increase in Average Salary for members in-force throughout the inter-valuation period (increases due to inflation and promotion) compare the averages from:

  1. Investigate members joining between 01/01/1901 and the Previous Valuation Date based on Current Salary with a Calculation Date of the Current Valuation Date.
  2. Investigate members joining between 01/01/1901 and the Previous Valuation Date based on Previous Salary with a Calculation Date of the Current Valuation Date.

Based on Date of Joining

The (service) duration ranges specified are calculated according to the selection in this field and the Calculation Date. Check the box to select either based on Date of joining Company or Date of joining Scheme. The data will be taken from the standard data items,

Save the Results for Sub Groups

The results (for all files or sub-groups combined) of every investigation are always saved (to a saved results file). These results are stored using the description applied to the parameter set when saved.

This option allows you to also save the results for each of the files or sub-groups specified as well. These results are stored using the description of the saved parameter set with a suffix of the sub-group data filename.

Stored results for each of the sub-groups means that:

  • males and females can be investigated simultaneously but separate results can be reviewed; and/or
  • the appropriateness of the Rate Table found to be the best fit for the whole group can be checked against each of the sub-groups.

It is possible to delete stored investigation results when reviewing the investigation. It is recommended that any results for inappropriate groupings such as heterogeneous groups (eg males and females combined when the decrement should clearly be different) or any small groups (for which comparisons are not reliable) or for any runs containing erroneous data should be deleted to avoid possible error.

Expected Table

The Rate Table Code of the expected table for comparison with the actual Scheme experience.

The starting point for the comparison table is generally the expected table that was assumed at the previous investigation.

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.

Percentage 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.

Run

Click the Run button to run the calculations.

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.