PPF Yields
PPF Yield Assumptions: Applicable Date
Enter the date at which the PPF Yields are applicable. The format must be DD/MM/YYYY.
PPF Yields: Secondary Key
The Secondary Key can be used to distinguish between different yields that apply at the same valuation date i.e. where yields are dependent on the date the PPF S179 (Levy) Valuation will be signed.
The user can use the Secondary Key to enter a description of the
appropriate yields i.e. GNV2 (Pre 1 Nov 06). This can be either a
numeric value or a description and up to 20 characters in length.
When selecting the yields in the Scheme PPF tab, both the yield date and the Secondary Field narrative are visible.
Index Linked over 5 years 5% Inflation
Enter the FTSE Index Linked over 5 years 5% inflation Gilt Yield as at the Applicable Date. (SuperVal will calculate the annualised yield.)
This yield will be used in the calculation of Yield C (pre 31 March 2008 valuations) and Yield D (post 30 March 2008 valuations). The annualised yields are calculated as follows:
The adjustment required to both Yield C (pre 31 March 2008 valuations) and Yield D (post 30 March 2008 valuations) is documented in the Guidance from the PPF and is determined by the date of valuation. SuperVal automatically allows for the adjustments documented in Guidance Note A3, A4, A5, A6, A7, A8 and A9.
The yield is entered as a percentage, i.e. for 3% enter 3 and not 0.03.
Index Linked over 5 years 0% Inflation
Enter the FTSE Index Linked over 5 years 0% inflation Gilt Yield as at the Applicable Date. (SuperVal will calculate the annualised yield.)
This yield will be used in the calculation of Yield C (pre 31 March 2008 valuations) and Yield D (post 30 March 2008 valuations). The Yields are calculated as follows:
The adjustment required to both Yield C (pre 31 March 2008 valuations) and Yield D (post 30 March 2008 valuations) is documented in the Guidance from the PPF and is determined by the date of valuation. SuperVal automatically allows for the adjustments documented in Guidance Note A3, A4, A5, A6, A7, A8 and A9.
The yield is entered as a percentage, i.e. for 3% enter 3 and not 0.03.
Index- Linked 5-15yrs 5%
Enter the FTSE Index Linked for 5 - 15 years 5% inflation Gilt Yield as at the Applicable Date. (SuperVal will calculate the annualised yield.)
Index- Linked 5-15yrs 0%
Enter the FTSE Index Linked for 5 - 15 years 0% inflation Gilt Yield as at the Applicable Date. (SuperVal will calculate the annualised yield.)
Index Linked over 15 years 5% Inflation
Enter the FTSE Index Linked over 15 years 5% inflation Gilt Yield as at the Applicable Date. (SuperVal will calculate the annualised yield.)
This yield will be used in the calculation of Yield A. Yield A is calculated as follows:
The adjustment required to Yield A is documented in the Guidance from the PPF and is determined by the date of valuation. SuperVal automatically allows for the adjustments documented in Guidance Notes A3, A4, A5, A6, A7, A8 and A9.
The yield is entered as a percentage, i.e. for 3% enter 3 and not 0.03.
Index Linked over 15 years 0% Inflation
Enter the FTSE Index Linked over 15 years 0% inflation Gilt Yield as at the Applicable Date. (SuperVal will calculate the annualised yield.)
This yield will be used in the calculation of Yield A. Yield A is calculated as follows:
The adjustment required to Yield A is documented in the Guidance from the PPF and is determined by the date of valuation. SuperVal automatically allows for the adjustments documented in Guidance Notes A3, A4, A5, A6, A7, A8 and A9.
The yield is entered as a percentage, i.e. for 3% enter 3 and not 0.03.
Fixed Interest 10 years Gilt Yield
Enter the FTSE Fixed Interest 10 year Gilt Yield as at the Applicable Date. (SuperVal will calculate the annualised yield.)
This yield will be used in the calculation of Yield B (pre 31 March 2008 valuations) and Yield C (valuations between 31 March 2008 and 30 October 2009). The annualised yield will be calculated as follows:
The adjustment required to Yield B (pre 31 March 2008 valuations) and Yield C (valuations between 31 March 2008 and 30 October 2009) is documented in the Guidance from the PPF and is determined by the date of valuation. SuperVal automatically allows for the adjustments documented in Guidance Note A3, A4, A5, A6, A7, A8 and A9.
The yield is entered as a percentage, i.e. for 3% enter 3 and not 0.03.
Fixed Interest 15 years Gilt Yield
Enter the FTSE Fixed Interest 15 year Gilt Yield as at the Applicable Date. (SuperVal will calculate the annualised yield.)
This yield will be used in the calculation of Yield C (post 30 October 2009 valuations). The annualised yield will be calculated as follows:
The adjustment required to Yield C (post 30 October 2009 valuations) is documented in the Guidance from the PPF and is determined by the date of valuation. SuperVal automatically allows for the adjustments documented in Guidance Note A3, A4, A5, A6, A7, A8 and A9.
The yield is entered as a percentage, i.e. for 3% enter 3 and not 0.03.
Fixed Interest 20 years Gilt Yield
Enter the FTSE Fixed Interest 20 year Gilt Yield as at the Applicable Date. (SuperVal will calculate the annualised yield.)
This yield will be used in the calculation of Yield B (post 30 March 2008 valuations). Yield B (post 30 March 2008 valuations) is calculated as follows:
The adjustment required to Yield B (post 30 March 2008) is documented in the Guidance from the PPF and is determined by the date of valuation. SuperVal automatically allows for the adjustments documented in Guidance Note A3, A4, A5, A6, A7, A8 and A9.
The yield is entered as a percentage, i.e. for 3% enter 3 and not 0.03.
Pre 2009 Pre Retirement Adjustment
SuperVal calculates the PPF yields in accordance with the Guidance issued from the PPF and documented in Guidance Notes A3, A4, A5, A6, A7, A8 and A9.
This field can be used to make adjustment to this calculation i.e. to reflect Guidance prior to A3 or when new Guidance is issued.
Enter the adjustment that applies to the yield used for compensation
increasing in deferment and accrued before 6 April 2009. The adjustment
is additive, i.e. if the calculated yield is 3.25% and 0.25 is entered, the
revised yield will be 3.50%.
PPF Yields: Post-2009 Pre Retirement Adjustment
SuperVal calculates the PPF yields in accordance with the Guidance issued from the PPF and documented in Guidance Notes A3, A4, A5, A6 and A7.
This field can be used to make adjustment to this calculation i.e. to reflect Guidance prior to A3 or when new Guidance is issued.
Enter the adjustment that applies to the yield used for compensation
increasing in deferment and accrued after 5 April 2009. The adjustment
is additive i.e. if the calculated yield is 3.25% and 0.25 is entered, the
revised yield will be 3.50%.
Pensioner Post Retirement (With Increases) Adjustment
SuperVal calculates the PPF yields in accordance with the Guidance issued from the PPF and documented in Guidance Notes A3, A4, A5, A6, A7, A8 and A9.
This field can be used to make adjustment to this calculation, i.e. to reflect Guidance prior to A3 or when new Guidance is issued.
Enter the adjustment that applies to the yield used for compensation
with increases in payment. The adjustment is additive, i.e. if the
calculated yield is 3.25% and 0.25 is entered; the revised yield will be
3.50%.
Pensioner Post Retirement (No Increases) Adjustment
SuperVal calculates the PPF yields in accordance with the Guidance issued from the PPF and documented in Guidance Notes A3, A4, A5, A6, A7, A8 and A9.
This field can be used to make adjustment to this calculation, i.e. to reflect Guidance prior to A3 or when new Guidance is issued.
Enter the adjustment that applies to the yield used for compensation with no
increases in payment. The adjustment is additive, i.e. if the calculated
yield is 3.25% and 0.25 is entered; the revised yield will be
3.50%.
Non-Pensioner Post Retirement (With Increases) Adjustment
SuperVal calculates the PPF yields in accordance with the Guidance issued from the PPF and documented in Guidance Notes A3, A4, A5, A6, A7, A8 and A9.
This field can be used to make adjustment to this calculation, i.e. to reflect Guidance prior to A3 or when new Guidance is issued.
Enter the adjustment that applies to the yield used for compensation
with increases in payment. The adjustment is additive, i.e. if the calculated yield is 3.25% and 0.25 is entered, the revised yield will be 3.50%.
Non-Pensioner Post Retirement (No Increases) Adjustment
SuperVal calculates the PPF yields in accordance with the Guidance issued from the PPF and documented in Guidance Notes A3, A4, A5, A6, A7, A8 and A9.
This field can be used to make adjustment to this calculation, i.e. to reflect Guidance prior to A3 or when new Guidance is issued.
Enter the adjustment that applies to the yield used for compensation
with no increases in payment. The adjustment is additive, i.e. if the
calculated yield is 3.25% and 0.25 is entered, the revised yield will be
3.50%.
Pre Retirement
SuperVal shows you the net yield that will be used to value compensation increasing in deferment and accrued prior to 6 April 2009.
The yield will be calculated in accordance with the Guidance issued from the PPF documented in Guidance Notes A3, A4, A5, A6, A7, A8 and A9 and then adjusted by any entry in the Pre Retirement Adjustment field.
Post 2009 Pre Retirement
SuperVal shows you the net yield that will be used to value compensation increasing in deferment and accrued post 6 April 2009.
The yield will be calculated in accordance with the Guidance issued from the PPF documented in Guidance Notes A3, A4, A5, A6, A7, A8 and A9 and then adjusted by any entry in the Post 2009 Pre Retirement Adjustment field.
Pensioner Post Retirement (With Increases)
SuperVal shows you the net yield that will be used to value pensions with increases in payment.
The yield will be calculated in accordance with the Guidance issued from the PPF documented in Guidance Notes A3, A4, A5, A6, A7, A8 and A9 and then adjusted by any entry in the Post Retirement (with increases) Adjustment field.
Pensioner Post Retirement (No Increases)
SuperVal shows you the net yield that will be used to value pensions with no increases in payment.
The yield will be calculated in accordance with the Guidance issued from the PPF documented in Guidance Notes A3, A4, A5, A6, A7, A8 and A9 and then adjusted by any entry in the Post Retirement (No Increases) Adjustment field.
Non-Pensioner Post Retirement (With Increases)
SuperVal shows you the net yield that will be used to value pensions with increases in payment.
The yield will be calculated in accordance with the Guidance issued from the PPF documented in Guidance Notes A3, A4, A5, A6, A7, A8 and A9 and then adjusted by any entry in the Post Retirement (with increases) Adjustment field.
Non-Pensioner Post Retirement (No Increases)
SuperVal shows you the net yield that will be used to value pensions with no increases in payment.
The yield will be calculated in accordance with the Guidance issued from the PPF documented in Guidance Notes A3, A4, A5, A6, A7, A8 and A9 and then adjusted by any entry in the Post Retirement (No Increases) Adjustment field.
Grid editing options
Right-clicking on the Top Left Corner of the grid displays a menu which allows you to set the following Grid Editing Options:
- Editing of a cell can be invoked by either clicking on the cell or by pressing F2 when the cell is active (Clicking will only change the current active cell); and
- determine the cursor movement once editing is complete to be either to the next cell down, the next cell to the right or to stay in the current cell.
Delete Row
Click here to delete an existing row of PPF yields or PPF Caps.
Edit Row
Click here to edit an existing row of PPF Yields or PPF Caps.
Add Row(s)
Click here to add an additional row of PPF Yields or PPF Caps.
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.