This facility allows you to capture benefit statement projection assumptions for investment mediums at a global level. In addition, a range of values within which an assumption can fall may be defined.
From the main menu on top, select Investment Medium. The JU1AQ Investment Medium List screen will be displayed. This screen lists all investment mediums that have already been coded on the system.
Highlight an investment medium and select Investment Return Projection Assumption from the sub-menu on the left.
Note:
The following menu options provide short cuts:
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Distribution |
Flows directly to the JU3AG Distribution List screen.
This can also be selected via Products > (List) >Distribution > Reserve Distribution. |
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Switching |
Flows directly to the JU3CA Bulk List screen.
This can also be selected via Processes > Switches > Bulk Switches. |
The JU1AW Global Parameter Maintain screen will be displayed.
This screen displays all projection assumptions that have been created for the selected investment medium.
To create a new projection assumption, click NEW. The JU1AW Investment Medium Projection Assumption Maintain screen will be displayed.
Descriptions of the input fields on this screen appear below.
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Investment Medium Projection Assumption Details |
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Type |
Select a projection assumption value from the drop-down list. Refer to Projection Assumption Parameters Table below. |
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Description |
A text description of this projection assumption. |
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Effective Date |
The effective date of this projection assumption. |
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Percentage |
The percentage that must be applied for this projection assumption. |
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Value |
The value that must be applied for this projection assumption. |
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Projection Assumption Parameters
The following projection assumption parameters are available for selection for the parameter type of PROJ ASSUMPTION:
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Projection Assumption Type |
Description |
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SALARY INC CORE |
Salary increase assumption – core value |
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SALARY INC HIGH |
Salary increase assumption – high value |
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SALARY INC LOW |
Salary increase assumption – low value |
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INV RETURN CORE |
Investment return – core value |
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INV RETURN HIGH |
Investment return – high value |
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INV RETURN LOW |
Investment return – low value |
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INV EXP CORE |
Investment expense – core value |
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INV EXP HIGH |
Investment expense – high value |
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INV EXP LOW |
Investment expense – low value |
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F/SERV IRR CORE |
Future service investment return ratio – core value |
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F/SERV IRR HIGH |
Future service investment return ratio – high value |
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F/SERV IRR LOW |
Future service investment return ratio – low value |
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P/SERV IRR CORE |
Past service investment return ratio – core value |
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P/SERV IRR HIGH |
Past service investment return ratio – high value |
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P/SERV IRR LOW |
Past service investment return ratio – low value |
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ANNYIELD PR <97 |
Annuity yield protected rights pre 97 |
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ANNYIELD PR >97 |
Annuity yield protected rights post 97 |
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ANNYIELD NON PR |
Annuity yield non protected rights |
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PARTNER PENSION |
Partners pension percentage |
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SMPI SALARY INC |
Statutory Money Purchase Illustration salary increase assumption |
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SMPI INV RETURN |
Statutory Money Purchase Illustration investment return |
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SMPI INV EXP |
Statutory Money Purchase Illustration investment expense |
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SMPI INFLATION |
Statutory Money Purchase Illustration inflation rate |
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SMPI PARTNR PEN |
Statutory Money Purchase Illustration partner’s pension percentage |
Once all of the required data has been captured, click OK.
To view an existing projection assumption, highlight an investment medium on the JU1AW Global Parameter Maintain screen and click OPEN.
If the Parameter Type is PROJ ASSUMPTION for an existing projection assumption, the Assumption Input Values menu option will be enabled. Select Assumption Input Values from the sub-menu on the left.
The Projection Assumption Maintain screen will be displayed. Any existing input values already defined will be displayed. If no input values have been defined then a blank screen will be displayed.
To define new input values, click ADD. The Projection Assumption Maintain screen will be displayed.
Descriptions of the input fields on this screen appear below.
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Update Access |
The specific area to which these projection assumptions are to be applied.
Select a value from the drop-down list. The following values may be selected:
NONE (No projections assumptions apply). BEN & PROJ (Projections assumptions apply to both Benefit Statements and Benefit Projections) BEN STATEMENT (Projection assumptions apply to Benefit Statements) PROJ STATEMENT (Projection assumptions apply to Benefit Projections) |
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Percentage Range (From / To) |
The range within which a percentage can be selected for projection assumptions. |
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Value Range (From / To) |
The range within which a value can be selected for projection assumptions. |
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Percentage |
The percentage that must be applied for this projection assumption. |
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Value |
The value that must be applied for this projection assumption. |
Once all of the required data has been captured, click OK.
To view an existing projection assumption, highlight an investment medium on the JU1AW Global Parameter Maintain screen and click OPEN.
To modify existing input values, highlight the values on the Projection Assumption Maintain screen and click SELECT. The Projection Assumption Maintain screen will be displayed with the existing input values.
Capture any changes to existing values or any new changes and click OK. The Projection Assumption Maintain screen will be redisplayed with the captured data.
Note:
Projection Assumptions parameters can be defined at any of the following levels in the system:
- Global
- Investment Medium
- Scheme
- Scheme Portfolio
Product Launch Requirements
Additional Menu Options
Investment
Investment