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Underpin: Method

This and the other Cash Flow Parameters only affect the Cash Flow Summary page in the Excel/Consolidation Output. They do not have any effect on the Valuation Results.

Where Spread has been chosen for the field Pension Benefits Capitalised or Spread the Underpin (excess) liability will be shown as capitalised in the Cash Flow. However you can choose where this capitalised point will be. The options are:

  • Tables
  • Default

If Tables is selected then enter the rate tables applicable on the events where the Underpin is taking place. These are:

  • Retirement - actives and deferreds
  • Leaving Age - actives
  • Death in Deferment - deferreds

If Default is selected then the Underpin (excess) liability will be capitalised at the payment start point.