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Rate Table Editor

Table Number

The Table Number field contains a list of available Rate Table Codes.

In Add mode, the list will contain all unused Rate Table codes (of the particular type being added) for selection of the new Rate Table code.

In Edit mode, the list will contain the Rate Table code being edited plus all unused Rate Table codes (of the particular type being added) for selection of the Rate Table code. By selecting a new Rate Table code, a new Rate Table can be created based on the values of an existing Rate Table (or the existing Rate Table can be renamed).

Rate Table Description

The description of the Rate Table for identification purposes. This description can be modified as required.

Edit 1D Rate Tables in a Column format

Select this field to edit 1 dimensional rate tables in a column format. This makes copying and pasting of rates quicker.

Replace Original Rate Table with New Rate Table

When in Edit mode and if a new Rate Table code is selected, you should indicate if the existing Rate Table is to be replaced by the new Rate Table.

This enables you to either:

  • create a new Rate Table based on the values of an existing Rate Table (and not replace the existing Rate Table); or
  • rename an existing Rate Table (by replacing the existing Rate Table).

Rates

  • Age
  • Rate
  • Duration

The values in the Rate Table are displayed and can be modified in the spreadsheet.

The range of Rates that can be specified are:

  • pages 0 to 119 for Age-related Rate Tables (including Miscellaneous X-tables)

  • durations 0 to 59 for Duration related Rate Tables (including Miscellaneous T-tables);

  • dimensions of up to 120 values (related to Age (Y-axis) and Duration (X-axis) for decrement rates) for 2-Dimensional Rate Tables (including Miscellaneous M tables); and

  • ages 0 to 119 and durations 0 to {select period +1} for Select Rate Tables. The mortality suffered by an individual member follows a diagonal of the table so the Rates entered at each age (i.e. a row) for a t-year select period are 

    q[x]:0, q[x-1]:1, q[x-2]:2, ..., q[x-t+1]:t-1, qx{Ultimate}

Only one column of Ultimate rates should be specified as all durations beyond t year select period will use the Ultimate rates column.

The format of the Rates being entered will depend on the type of Rate Table being entered (an out of range error will be reported if an invalid entry is input). It is necessary to input decimal points.

To determine the age used to look up the factor in Duration-Related Decrement Tables, SuperVal will calculate both the Age Exact and the Age Nearest at the start of the year. If Age Exact is less than Age nearest, SuperVal will use the Age Nearest to look up the decrement at point of exit. If Age Exact is greater than (or equal) to Age Nearest, SuperVal will use the Age Nearest + 1 to look up the decrement at point of exit.

To determine the service used to look up the decrement, SuperVal will calculate the period from Date of Entry into Qualifying Service/Start Date for Augmentation Table and anniversary of valuation date +1.

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.

De-Interpolate Rates

(2) Use this functionality to create Exact-Age rates (y) from mid-Year rates (x).

Exact-Age rates are calculated as follows:

y(NRA) = x(NRA)
y(NRA-1) = 2x(NRA) - y(NRA)
y(NRA-2) = 2x(NRA-1) - y(NRA-1)

...

The Annuities button

Click the Insert Annuities button to enable the calculation of annuity factors. These values will replace values at the ages specified in the annuity calculation.

The Delete Rates button

When Adding or Editing an Age or Duration related Rate Table, pressing the Delete Rates button enables the deletion of rates in a specified range.

The Insert Rates button

When Adding or Editing Age or duration related Rate Tables, pressing the Insert Rates button enables the insertion (or replacement) of rates in a range using a vector.

The Import Rates button

Pressing the Import Rates button enables importing rates from an ASCII file.

The standard Windows dialog box is presented allowing you to select a file containing the rates to be imported.

The file can be either a Text file or CSV (Comma Separated Values) file and should contain

  • for Age and Duration related Rate Tables, a series of numbers being alternate values of Age/Duration followed by a Rate (similar to the .TAB export files created by SuperVal)
  • for 2-Dimensional Tables, a series of records containing Rates for each respective Age (or Y-axis dimension).

It is not necessary to specify a rate for every Age and/or Duration in the file as the default value will be assumed (one for Duration related tables and zero for all other tables) for any unspecified Ages/Durations.

However, the file is assumed to contain Rates for all Ages and/or Durations so all existing rates in the Rate Table are replaced by the imported rates.

After accepting the parameters, the effect of the import is displayed for confirmation before the Rate Table is updated.

More information can be found in the Infocus document relating to Importing of Rate Tables.

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.