Home > Supplements > Annuity Accounting Rules > Living Annuities
Member
Per portfolio and income type
|
ANNUITY PAYMENT |
MEMPENRLUNT |
DR |
MEM DEPOSIT |
|
|
|
CR |
INVSTMEMUNIT |
|
|
|
DR |
PENSIONPAID |
|
|
|
CR |
PENSIONALLOC |
Scheme
Sum of all members per portfolio
|
ANNUITY PAYMENT |
FNDPENRLUNT |
DR |
PENSIONPAID |
|
|
|
CR |
PENSIONPAYBL |
|
|
|
DR |
DISINVTRANS |
|
|
|
CR |
INVSTMNTPENS |
Create the following accounting transactions for each payee:
Gross payee amount
|
ANNUITY PAYMENT |
L/ANNUITYPBL |
MEMBER |
DR |
PENSIONALLOC |
|
|
|
|
CR |
PENSIONPAYBL |
Tax amount
|
ANNUITY PAYMENT |
PAYEPAYABLE |
MEMBER |
DR |
PENSIONPAYBL |
|
|
|
|
CR |
MEMDEPOSIT |
|
|
|
SCHEME |
DR |
PENSIONPAYBL |
|
|
|
|
CR |
PAYEPAYABLE |
Third party payment
Same as for annuitants. Refer to Regular Payments
Net payee amount
Same as for annuitants. Refer to Regular Payments