The following table covers the different system parameters (UDPV’s) used in the flexible benefit rules and describes how they are used to define benefit calculation components.
* Parameter
BP = Benefit Product
BS = Benefit Structure
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Parameter * |
Mandatory |
Purpose |
Defined by User / Vendor |
Prescribed Values |
Effect |
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BP: Benefit Type |
Yes |
Link Accounting Rules for calculated Benefit Product value |
User |
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BP: Formula Type |
Yes |
Indicates nature of Benefit Product as - Place holder
- Enable / Disable fields on Benefit Scale window
- Any other type |
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Refer 2.5.1 CALC TYPE CALCTYPELOOP
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Place holder Place holder |
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Vendor |
AMOUNT |
Amount on Benefit Scale |
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PERCENTAGE |
Percentage on Benefit Scale |
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ACCRUAL % |
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ACCRUAL % TO NRD |
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EARNINGS YIELD |
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FACTOR |
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INDEX LINKED |
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MANUAL |
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MULTIPLE |
Multiple on Benefit Scale |
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BP: Type of Result |
Yes |
Defines the output format of the Benefit Product |
User |
Example: YEARS DAYS |
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BP: Formula Applied To |
No |
Described the object to which a formula is applied, iro, what must be looked up |
Vendor |
ANNUITY AMT ANNUAL SALARY ANNUALISED CONS BENEFIT AMOUNT BENEFICIARY EARNINGS FOR EACH FINDEP FOREACHYEAREARN AMOUNT ANNIVERSARY SAL RISK SALARY SALARY SERVICE BOUGHT SERVICE CREDIT HOURS MONTHLY SALARY PENSION PAYMENT PENS PYMNT ORIG SERVICE NORMAL SPOUSE TERRITORY TAX PENSION TAKE-ON PENSION SHARE GMP GRADED SALARY MEMBER CHOICE INCOME TYPE RETIREMENT AGES RETIREMENT DATE SPDATE CONTRIBUTIONS ACCOUNTING LTA TAXRATES MEMBER OFFSHORE WORKINGLIFE |
The exact value in the lookup place is further defined by the Classification parameter |
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BP: Type of Scale |
No |
Used in conjunction with Formula Applied To and indicates a further categorisation / restriction of that value retrieved.
Is also the parameter defining the vesting scale |
Vendor |
AGE AGE 60-YIELD% AGE FACTOR AGE MONTHS AGE NEAR AGE NEAR-YIELD% AGENEAR-YRDOB AGE YEARS AMOUNT COUNTDEPEND COVER FACTOR DATE DATE GREATER DATE LESS DCPHI-DODINCFCT DOXTYR-DEFERTYR MONTHS NRA-YY TO NRD RATE TABLE SERVICE MONTHS SERVICE YEARS SERVICE SLIDING SCALE AGE YIELD % TOTDEPEND ALLOC YEARS TO NRD YEARS AFTER NRD SALARY YEARS SPA-AGE REVAL-AGE IDX YIELD% AGE YY TO NRD-NRA % OF DEPENDANT YY TO NRD-YLD% YIELD %-AGE |
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BP: Accounting |
No |
Define what Accounting Transactions must be generated |
User |
AN DC DB BCOM BENEFIT DEFICIT BENEFIT SURPLUS CAPITAL VALUE COMMUTATION FUND PROFIT INSURED LUMPSUM REASSURANCE RISK ADJUST NEG RISK ADJUST POS RISK DEFICIT RISK SURPLUS LS DB BCOM LS DB BCOR LS DB BCOT LS DB BFLS LS DB BREF LS DB BTLA LS DB BTLS LS DC BCOM LS DC BCOR LS DC BCOT LS DC BFLS LS DC BREF LS DC BTLS LS T U BFLS LS T U BREF LUMPSUM DB LUMPSUM DC LUMPSUM TAX G LUMPSUM TAX I LUMPSUM TAX J LUMPSUM TAX UK |
Bulk Payment Association facility |
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BP: Calculation Method |
No |
Vendor to create specific calculation modules. Some parameters used in this calculation module may be defined by the Benefit Scale Classification or a vesting scale
Can define the method used to interpolate factors
Used when something in addition to the package structure is required. |
Vendor |
ALLOCATEDEPANN ALLOCATESPANN ALLOCSPANNDIS ANNUALPENSION HIGHESTYRAVG ADDED YEARS AGE AGE EXACT BCE PERCENT LTA DCPHI-DODINCFCT FDGUARANTEE END GMP REVALUATION GMPA REVALUATION GMPADJUSTED PREPHI DOX-DJF DOX-DOD DOX-NRD DOX-ERD DOX-LRD DOX-SPA DOX-GMPA DOX-SP DEATH DOX-PHI INDANNUITY INTERPOLATE INTERPOLATE 2D INVSTMT UNIT INVSTMT NO UNIT QUALIFY SERVICE SCHEMELTA% SERVICE HOURS SPGUARANTEE END TAX RATE TAX AMOUNT BENALLOCATION OFFSET CONT QUAL SERV TOTANNPENPAYM TOTDEPEND ALLOC |
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BP: Rounding Method |
No |
How result for CalcType or Benefit Product ill be rounded at the highest level - Rounding of term values
- Rounding of amounts (max 2 decimal places), percentages (max 8 decimal places), factors (max 8 decimal places) defined by user in set up |
Vendor
User |
EXACT |
No rounding, exacts number of years, months, days |
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YRS / MNTHS LAST |
Rounded down to the last complete month |
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YRS / MNTHS NEXT |
Rounded up to include the current month. This is the default option |
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YRS / MNTHS NEAR |
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ROUND NORMAL |
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ROUND DOWN |
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ROUND UP |
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NEAREST 0.05 |
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BS: Calculation Parameter |
No |
Define the value that will be looked up on the Global Parameters, can be a Date, Percent, Amount, Factor |
Vendor |
GMP AGE BANK FACTOR BASE YIELD PERC EQUALISATION FULLTIME INDEXEDINCREASE LIFETIME ALLOW LIMIT TAX 20% LPI YIELD MART MAXIMUM SERVICE NEW CODE NIC RATE OLD CODE PART TIME PRERET DISCOUNT SECTION 148 SINGLE ANN 2.3 SP PROP INCAP SPD SERVICE SPD SERVICE WW STATE COM FACT STATEPENSIONAMT TAX TAX FREE LS % TAX RATE 20% TAX RATE 40% SINGLE ANN 9.3 SPOUSE ANN 2.4 SPOUSE ANN 9.4 LATE RETIREMENT EARLY MONEY RED COMMUTATION EARLY DEFPEN EQ EARLY APSR EQ EARLY RET YIELD EARNINGS CAP TRIVIAL COM EPB TRIVIAL COM SPD TRIVIAL COM LMT UK TERR COMM YOUNG SP PENLTY PRE88GMPREVALTC PO88GMPREVALTC CONVERSION FACT SWITCHING FACT MFR CASH MVA EARLY RETIRE40A MARKET VAL ADJ TC FIXED 3% TC POST88 GMP TC PRE88 GMP TC RPI TC RPI MN0%MX5% TC RPI MN3%MX5% |
Factor: method of obtaining the relevant factor is defined by the type of scale |
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BS: Classification |
No |
Referencing a unique set of member data on combination with the Formula Applied To |
User |
AAS ACBF ACBP AGMP AI AINP AIWP AJP AJPD ALA ALAO ALCB AMB AMS ANP APB APT AR ARB ARBF ARBP ASBP ASCB ASL AUL AUN AW NR AGE ADAY ACCRUED STATE PENSION PENSION AUGMENT PENSION AVC BACKDATED SPOUSE PENSION WIDOW’S ANNUITY BOUGHT EXCESS BULK BULKBOUGHTPSN EBP EQUALISATION SCHEME TRANSFER MARTIN BANK ADD PENPROTECTED LS PEN SHARING AMT PEN SHARING % PCBP PCIP POCB PRCB PGNC PGOC BMB BPB PO97VEL96PSNDOL PRE97VEL96PSNDOL PRE88GMPDOTV1 PROTECTED CASH PROTECTED PERC SERV1 SERV2 SERV3 EXT SPOUSE PEN PRE97 ADDH BASIC SHIFT RISK SALARY PDSHF INSURED COVER INSURED BENEFIT INSURED COV REC MEMBER INVEST BENEFIT PAID SPOUSE PERCENT ANNUAL ALLOWANCE LTA – PENSION LTA – CASH REFUND LUMPSUM GUARANTEE BAL TOTAL COMM TOTFUNDADAY LTA CHLSDISCHOSEN CHPROP DEF LUMP SUM DEP% DEPLSDISCHOSEN DEPPROP ISCHILD ISDEP ISDEPCONSENT ISFUNDSPOUSE ISINCAP ISLEAVEPOSTNPD ISLESSONEYR ISMARUN40 ISPREADAY ISPREVBCE ISPROTDISLS ISREDPOLICY ISSXLS ISTVIN ISWITHIN2YRS PAYMNTPRE75 RET LUMP SUM SPLSDISCHOSEN SPPROP WASDEFRED FTEU NSS FTEN PART TIME HOURS FULL TIME HOURS MFTEE NI EARNINGS NMFTE SCHEME LTA ENHANCE PROTEC ISCOMMAMOUNT ISINCAPHIGHEST ISINCAPLOWEST ISPASSEDHMRC ISSXPSN PRIM ENH PROTEC PRIMARY PROTEC AAVC ACRX AIDB ALLA AAVC ACRX AO97 AR97 ASDB AUGA BR97 CHLP FLXD GAIN PN98 PO88 PO97 POCB PR88 PR97 PRCB PUPA RPPO RPPR SEPN SPD SPEA SPGP SV2 WAVC WO97 WPFC WR97 WUFU ER AGE LR AGE BENEFICIARY DEPENDANT DISABLED DEPDNT FINDEPENDANT SPOUSE DIVORDPERC SCOT SPPENOP LTA–CASH LTA–PENSION ISCONTRACTEDOUT ISDISCRETION ISFINDEPENDANT ISSINGLEPR ISTRANSOVERSEAS ISTVOUT LTS PHI |
Multiple results will be summed |