NE Model
New Entrant Proportions Table
Double click to select the Rate Table containing the New Entrant Proportions Table.
Related
Selecting rate tables
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.
Immediate New Entrants
As details of new entrant experience immediately after the valuation date can be accurately known, you are able to specify a number of immediate new entrants joining at the valuation date. These members will be assumed to enter at the valuation date.
This number should include the replacement of any members that have been valued outside the SuperVal system. Note that any members over normal retirement age valued within SuperVal will be replaced immediately at the valuation date by SuperVal.
Membership Growth Vector
You must specify a vector of the growth or decline in membership of the Scheme. New entrants are added at the start of each Scheme year, the start of the first year being the valuation date.
The vector is related to the number of members valued in the group plus the number of immediate new entrants specified. The first number in the vector will represent the size of the Scheme at the end of the first year, the second number representing the number of members at the end of the second year, etc.
The last element of the vector is assumed to continue to the end of the projection period.
Indicator of Growth/Decline
The vector of growth can be specified as either:
- a compound Growth Rate or
- an Index of the Initial Membership (that is, the number of members valued plus any Immediate New Entrants specified).
Allow Negative New Entrants
Check this box to allow for negative new entrants.
Projection Term
The Projection Term of the New Entrant Model must be specified in years.
Save As
Click the Save As button to save with a new parameter description.
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.