Member Choice (UDPV Definitions)

The following are input parameters which will be stored on the member values table and will be referenced in the benefit rules coded.

 

Classification Value

Formula Applied To

Description

 

DEF LUMP SUM

MEMBER CHOICE

Have the Trustees decided to pay a death in deferment lump sum. Result=1 or 0.

RET LUMP SUM

MEMBER CHOICE

Pension Commencement Lump Sum selected by the member

PAYMNTPRE75

MEMBER CHOICE

Will trivial commutation lump sum be paid before member's 75 birthday? Result=1 or 0.

ISLESSONEYR

MEMBER CHOICE

Has evidence been received that the Member is expected to live for less than one year? Result=1 or 0.

ISDEPCONSENT

MEMBER CHOICE

Has the Spouse or Dependant given consent to trivial commutation of benefits? Result=1 or 0.

ISFUNDSPOUSE

MEMBER CHOICE

Does the Member have a Fund Spouse? Result=1 or 0.

ISDEP

MEMBER CHOICE

Does the Member have a Dependant? Result=1 or 0.

ISCHILD

MEMBER CHOICE

Does the Member have a Dependant? Result=1 or 0.

SPPROP

MEMBER CHOICE

Fund Spouse proportion as decided by the Trustees. Result= A percentage as decided by Trustees.

DEPPROP

MEMBER CHOICE

Each Dependant's proportion as decided by the Trustees. Result= A percentage as decided by Trustees for each dependant. So multiple entries may be required.

CHPROP

MEMBER CHOICE

Each Child's proportion as decided by the Trustees. Result= A percentage as decided by Trustees for each child. So multiple entries may be required.

SPLSDISCHOSEN

MEMBER CHOICE

Lump sum offered by the Trustees to the Spouse. Result= An amount in sterling.

DEPLSDISCHOSEN

MEMBER CHOICE

Lump sum offered by the Trustees to each Dependant. Result= An amount in sterling for each dependant - multiple entries required.

CHLSDISCHOSEN

MEMBER CHOICE

Lump sum offered by the Trustees to each Child. Result= An amount in sterling for each child - multiple entries required.

ISSXLS

MEMBER CHOICE

Has the Bank decided to apply the Employer Senior Executive Top UP and Cash Allowance Contributions to provide for a lump sum? Result=1 or 0.

WASDEFRED

MEMBER CHOICE

Did the Member become deferred through redundancy within the last 2 years. Result=1 or 0.

ISREDPOLICY

MEMBER CHOICE

Does the member meet all of the relevant terms and conditions as per section 6.11 of the redundancy policy. Result=1 or 0.

ISPREADAY

MEMBER CHOICE

Did the member retire before 6 April 2006. Result=1 or 0.

ISINCAP

MEMBER CHOICE

Did the member retire due to incapacity. Result=1 or 0.

ISPROTDISLS

MEMBER CHOICE

Has the member opted to protect their death benefit lump sum? Result=1 or 0.

ISWITHIN2YRS

MEMBER CHOICE

Is lump sum payment within 2 years of date of death. Result=1 or 0.

ISTVIN

MEMBER CHOICE

Has the member received a transfer in. Result=1 or 0.

ISLEAVEPOSTNPD

MEMBER CHOICE

Is the member opt out or leaving after NPD or attained age 75. Result=1 or 0.

ISPREVBCE

MEMBER CHOICE

Has the member had a previous BCE in the current scheme. Result=1 or 0.

DEP%

MEMBER CHOICE

Total proportion of members pension payable to Dependants on Member's death. Result= A percentage as decided by Trustees.

ISMARUN40

MEMBER CHOICE

Did the Member get married/enter a civil partnership after their date of retirement and is the surviving Spouse/Civil Partner under the age of 40 at DOD? Result=1 or 0.