Roll Forward: Adjustment3
Category Selections
Select the list of Categories for these Adjustments.
Fixed Revaluation
Select this box to use Fixed Revaluation Rate for GMP data fields
Statutory GMP Increases
Select this field to use Statutory GMP Increases for GMP data fields
Data Field
These are the Pre 1988 GMP and Post 1988 GMP fields defined in the data.
Revaluation
Enter the GMP Revaluation Rate
Increases
Enter the GMP Increase Rate
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.
Timing of GMP Pension Increases
Select the Timing of GMP Pension Increases
Increase Date
Specify the Day and Month of the GMP Pension Increase Date
Data Field
These are the fields that were used in the Basis for the Category selected.
Escalation Type
Select the Escalation Method:
None
: This option will apply no escalation to the Data Field.
: Fields required: None
Interest/Revaluation
: This will perform a simple roll-up at the rate specified in the ‘Escalation Rate’ column for the Roll Forward period.
: Fields required: Escalation Rate
: Where (assumed continuous increases).
Increases
: The method of escalating the data field will depend on which Escalation Timing is specified.
: Fields required: Escalation Timing, Review Date (if Escalation Timing is Review Date)
Escalation Rate
: If Escalation Timing is Continuous, the same calculation will be applied as in Interest/Revaluation above. If the timing is Review Date, a full year’s increase will be applied on each Review Date within the Roll Forward period.
Inflation
: The same calculation will be applied as for Increases but with the inclusion of any Promotional Salary Increases.
: Fields required: Salary Scale (Male and Female), Escalation Timing, Review Date (if Escalation Timing is Review Date), Escalation Rate
Age Dependent
: This method of escalating the data field will depend on the Payment Start Age specified.
: Fields required: Escalation Timing, Review Date (if Escalation Timing is Review Date), Payment Start Age (Male and Female), Age Dependent Revaluation
Age-Dependent Increases
: Revaluation will be applied prior to the Payment Start Age and Increases will be applied after the Payment Start Age. The calculation is described in Revaluation and Increases above.
Excess over GMP
: This calculation is similar to Age Dependent above but allowing for the GMP.
: Fields required: Escalation Timing, Review Date (if Escalation Timing is Review Date), Payment Start Age (Male and Female), Age-Dependent Revaluation
Age-Dependent Increases
: The formula is:
If Not Fixed
: The calculation is applied as for Age Dependent if GMP Fixed Revaluation is not checked. If GMP Fixed Revaluation is checked: substitute Fixed Revaluation Rate (see above) if it is GMP Fixed Revaluation.
: Fields required: Escalation Timing, Review Date (if Escalation Timing is Review Date), Payment-Start Age (Male and Female), Age-Dependent Revaluation
Salary Scale
- Adjustment3 Male Salary Scale
- Adjustment3 Female Salary Scale
Select the Male/Female Salary Scale
Escalation Timing
Select from either Continuous or Review Date
Escalation Review Date (DD/MM)
Specify a Review Date in the DD/MM format
Payment Start Age
- Adjustment3 Payment Start Age Male
- Adjustment3 Payment Start Age Female
Select the Male/Female Age of the Payment Start Age for the Data field selected.
Age Dependent Revaluation
Select the Revaluation Rate that applies in the period up to the Age that the numeric data field goes into Payment
Age Dependent Increases
Select the Increase Rate that applies in the period after the Age that the numeric data field goes into Payment
Escalation Rate
Select the Financial Assumption that applies to the numeric data field
Interrogate Basis
Interrogate Basis for relevant information
Add Variation
Add a new set of adjustments
Delete Variation
Delete a set of adjustments
Add Variation
Add a new set of adjustments
Run
Click the Run button to run the calculations.
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.