In this example:
- the scheme is an annual bonus scheme
- the investment portfolios in which the members can invest are not unitised
- the bonus rates are as follows:
|
Portfolio |
From |
To |
Bonus rate |
|
|
1 |
01/01/2003 |
28/02/2003 |
5% |
|
|
1 |
01/03/2003 |
30/09/2003 |
6% |
|
|
2 |
01/01/2003 |
28/02/2003 |
3% |
|
|
2 |
01/03/2003 |
30/09/2003 |
-1% |
(negative return due to poor performance) |
- the B_JU3AM_ANNUAL_BONUS batch run has been initiated and has now completed
- the accounts for employee F (Ref no 82) have been updated to reflect the relevant accounting entries
- it is assumed that no contribution movements have taken place in this member’s account since the opening balance as at 01/01/2003
Note:
This example focuses on the accounts of a single member. The accounts of all members of the scheme will be updated similarly.