Refer to Add new payment details under Annuitant Update Type: Annuity Amount.
The values coded for EFFECTIVE DATE, ANNUITANT STATUS, DATE OF LAST PAYMENT and END DATE will determine the results of the annuity payment run for each annuitant.
An active record will not be paid
- when the END DATE is earlier than or equal to the EFFECTIVE DATE or the LAST PAYMENT DATE
- if the annuitant has a payment record where the status is DECEASED
- if the member has a payment record where the status is SUSPENDED, and that record has outstanding payments. A suspended payment record has outstanding payments where the END DATE is null, or where the END DATE is later than the last payment date, and also later than the EFFECTIVE DATE
- if the total payment due is less than the total deductions
- if the payment is not authorized before the annuity run
- if both the principal member and the beneficiary have active payments (if one of them has been suspended, but there are still outstanding payments, this is considered as an active record)
- if a membership payment record has a type of payment of NO PAYMENT.
|
Membership Payment Details Status |
Payment is outstanding if … |
|
ACTIVE |
- LAST PAYMENT DATE is not updated and END DATE is blank or greater than EFFECTIVE DATE - LAST PAYMENT DATE is less than END DATE and END DATE is blank or greater than EFFECTIVE DATE |
|
SUSPENDED |
- LAST PAYMENT DATE is not updated and END DATE is blank or greater than EFFECTIVE DATE - LAST PAYMENT DATE is less than END DATE and END DATE is blank or greater than EFFECTIVE DATE |
|
ENDED |
- Cannot have outstanding payments as these payments are ignored irrespective of EFFECTIVE DATE, LATE PAYMENT DATE or END DATE |
The following are some examples of what will happen with each payment during a monthly annuity payment run (in the example, the run is for the month of July 2005).
Note:
A dependant age limit is set on the system at either a global or a scheme level.
In this example, the dependant age limit (from) is set to 21 and the dependant age limit (up to) is set to 25.
If any dependant is over the age of 25, they will not be paid.
All dependants between the age of 21 and 25 without a Valid Until Date that is greater than the effective date of the run will not be paid.
The dependant age limit parameters are set up at a scheme level.
|
Membership Number |
Surname |
First Name |
Type |
Effective Date of Run |
Effective Date |
Date of Last Payment |
Payment Amount |
End Date |
Annuitant Status |
Results following annuity payment run |
|
9541 |
ATKINSON |
BILLY |
ANNUITY |
July 2005 |
01/08/2004 |
30/11/2004 |
75.14 |
31/12/2005 |
ACTIVE |
75.14 * 8, then monthly payments until 2005/12 |
|
9541 |
ATKINSON |
BILLY |
ANNUITY |
July 2005 |
01/04/2005 |
31/03/2005 |
81.15 |
|
ACTIVE |
81.15 * 4, then monthly payments, no end date |
|
9541 |
ATKINSON |
BILLY |
ANNUITY |
July 2005 |
01/11/2004 |
31/10/2004 |
75.14 |
31/03/2005 |
CANCELLED |
Ignored, as ANNUITANT STATUS is CANCELLED |
|
5147 |
CHAPMAN |
CATHERINE |
ANNUITY |
July 2005 |
01/04/2004 |
31/03/2004 |
155.49 |
31/03/2005 |
ACTIVE |
Ignored, as END DATE is equal to DATE OF LAST PAYMENT / EFFECTIVE DATE |
|
2573 |
MARKS |
ALLEN |
ANNUITY |
July 2005 |
01/02/2005 |
31/01/2005 |
76.33 |
31/03/2005 |
ACTIVE |
76.33 * 2 |
|
2471 |
MATTHEWS |
MAUD |
ANNUITY |
July 2005 |
01/04/2005 |
30/06/2005 |
9.76 |
30/04/2005 |
ACTIVE |
Ignored, as END DATE is prior to DATE OF LAST PAYMENT |
|
5823 |
MAXWELL |
ELIZABETH |
ANNUITY |
July 2005 |
01/04/2005 |
31/05/2005 |
610.27 |
31/03/2005 |
ACTIVE |
Ignored, as END DATE is equal to or earlier than EFFECTIVE DATE |
|
5823 |
MAXWELL |
ELIZABETH |
ANNUITY |
July 2005 |
01/04/2005 |
|
610.27 |
01/04/2005 |
ACTIVE |
Ignored, as end date is equal to EFFECTIVE DATE |
|
5823 |
MAXWELL |
MARY |
ANNUITY |
July 2005 |
01/08/2004 |
25/08/2004 |
458.92 |
25/08/2004 |
CANCELLED |
Ignored, as ANNUITANT STATUS is CANCELLED |
|
5823 |
MAXWELL |
MARY |
ANNUITY |
July 2005 |
01/04/2005 |
31/03/2005 |
495.63 |
31/12/2005 |
SUSPENDED |
Although this record has outstanding payments, no payments will be made as ANNUITANT STATUS is SUSPENDED |
|
5823 |
MAXWELL |
MARY |
ANNUITY |
July 2005 |
01/05/2005 |
|
495.00 |
31/12/2005 |
ACTIVE |
Although this record is active, it will be ignored because of the member's suspended record |
|
6541 |
NELSON |
ROBERT |
ANNUITY |
July 2005 |
01/09/2002 |
30/06/2005 |
57.57 |
31/03/2004 |
ACTIVE |
Ignored, as END DATE is equal to or earlier than DATE OF LAST PAYMENT |
|
6541 |
NELSON |
ROBERT |
ANNUITY |
July 2005 |
01/04/2004 |
|
65.91 |
|
SUSPENDED |
Ignored, as ANNUITANT STATUS is SUSPENDED |
|
1288 |
PETERS |
LESTER |
ANNUITY |
July 2005 |
15/03/2004 |
31/03/2005 |
175.49 |
14/03/2004 |
SUSPENDED |
Ignored, as ANNUITANT STATUS is SUSPENDED |
|
5533 |
PURCELL |
JACK |
ANNUITY |
July 2005 |
01/05/2005 |
30/06/2005 |
397.66 |
30/06/2005 |
ACTIVE |
Ignored, as END DATE is equal to DATE OF LAST PAYMENT |
The following table shows how the Certificate of Existence (COE) RECEIVED date determines whether or not a member will be paid.
|
* COE Sent
|
* COE Received |
Effective date of run |
** Grace Period for Return of Certificate of Existence |
Results following annuity payment run |
|
|
15/06/2005 |
July 2005 |
2 |
There should not generally be a situation where a COE RECEIVED date, but no COE SENT date, exists. However, in such a case the member will be paid. |
|
01/04/2005 |
|
July 2005 |
2 |
As there is no COE RECEIVED date, and the time between the COE SENT date and the effective date (3 months) falls outside of the grace period, the member will not be paid, and the record will be suspended. |
|
01/04/2005 |
|
July 2005 |
6 |
Even though there is no COE RECEIVED date, as the time between the COE SENT date and the effective date (3 months) falls within the grace period, the member will be paid. |
|
01/04/2005 |
1/06/2005 |
July 2005 |
1 |
The grace period only becomes relevant if no COE RECEIVED date exists. In this example, even though the time between the COE SENT date and the COE RECEIVED date (2 months) falls outside of the grace period, the fact that the COE RECEIVED date is present means that the member will be paid (plus any arrears that may be due). |
* For information about this field, refer to Add new payment details under Annuitant Update Type: Annuity Amount
** For information about this field refer to
Processes
Regular Payments
Reports
Certificate of Existence
For more information on increases, refer to
Supplements
Annuity Increases
For more information on the accounting activities generated by the payment run, refer to
Supplements
Accounting Activities Generated by the Payment Run