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PPF Caps Edit

PPF Cap Assumptions: Applicable Date

Enter the date at which the Benefit Cap and factors are applicable. The format must be DD/MM/YYYY.

PPF Benefit Cap

Enter the PPF Benefit Cap as at the Applicable Date specified in the previous field.

Note that SuperVal will apply 90% to this figure.

PPF Benefit Cap Adjustment Factors

Double click to select the table containing the adjustment factors to be applied to the PPF Benefit Cap for comparison with scheme benefits payable at ages other than age 65 (including death in deferment benefits).

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.

PPF S143 (Entry) Valuation Benefit Cap Increase Rate

Enter the rate (in excess of inflation) at which the Compensation Cap will increase in the future for non-pensioners as set out in the guidance issued by the PPF. This is currently 1.5% (Guidance H4).

Cash Factor (Pre-97)

Double click to select the cash factors to apply where schemes provide retirement cash on-top of pension. (Cash commutation is ignored for PPF Valuations.) The cash factors are used to convert cash into pension (cash/factor) and then added to actual pension before comparing with the PPF Benefit Cap.

The Cash factor should be in the same format as commutation factors, i.e. 11 or 9 at relevant ages.

Cash Factor (Post-97)

Double click to select the cash factors to apply where schemes provide retirement cash on-top of pension. (Cash commutation is ignored for PPF Valuations.) The cash factors are used to convert cash into pension (cash/factor) and then added to actual pension before comparing with the PPF Benefit Cap.

The Cash factor should be in the same format as commutation factors, i.e. 11 or 9 at relevant ages.

OK

When you have finished entering the relevant information, click the OK button to move to the next screen.

SuperVal will check that all of the required entries on the page have been made. If additional fields require data SuperVal will briefly show in red the label of the first of these fields found on the page.

Cancel

Clicking on the Cancel button allows you to return to the previous screen without saving any of your changes.