The annuities process consists of several steps that are required to be completed. These process steps are managed by the system in order to ensure that the necessary information is supplied in order to complete the process correctly.
ANNUITANT UPDATE TYPES are used by the system to define the steps in the process. The annuitant update types displayed are driven by the system, which decides on which ones are required dependant on whether the member is an annuitant or a living annuitant.
For example, the annuitant update types displayed for an annuity will exclude investments and investment switching. The system will then enforce the capture of data as required by the system. This will also extend to the enforcement of the order of completion of annuitant update types, e.g. the system will not allow the BANK ACCOUNTS update type to be closed before the ANNUITY AMOUNTS annuitant update type has been completed.
Some of the annuitant update types that are displayed may not be mandatory, and the supplying of data is optional, e.g. the BENEFICIARIES annuitant update type may not be applicable to the member. In such cases, the system will not enforce the capture of data.