The following table contains those UDPV values that have been allocated to the 1964 scheme.
|
Classification Value |
Formula Applied To |
Source |
Description |
|
|
BankSpPen |
|
The restricted spouses pension must be added during the claims process to the database for members who married after retirement and for spouses under the age 40 at death. It will be zero if the bank has directed that no spouse's pension is payable. |
|
|
ERF-Chosen Retirement Age |
|
Lookup the Type of retirement (benefit event); lookup the years and months early from the chosen retirement age to the NRD, rounded up to the next month and find the factor on the table. |
|
|
ERF-Event |
|
Lookup the Type of retirement (benefit event); lookup the years and months early rounded up to the next month and find the factor on the table. |
|
|
GMP-Uplift |
|
Lookup the years and months early rounded up to the next month. Use this with the GMPpropAct or GMPPropDef % (to the nearest 1%), and lookup the relevant factor in the table. |
|
|
GMP-Uplift Chosen Ret Age |
|
Lookup the years and months early from the chosen retirement age to the NRD rounded up to the next month. Use this with the GMPprop% (to the nearest 1%), and lookup the relevant factor in the table. |
|
|
ImmPsn50%ContSp |
|
Use the "Type of Scale" to find the value to determine which column in the table is applicable, then also use the "Formula Applied to" to determine which row in the table is applicable |
|
|
ImmPsnNOContSp |
|
Use the "Type of Scale" to find the value to determine which column in the table is applicable, then also use the "Formula Applied to" to determine which row in the table is applicable. |
|
|
MB Married before DoD |
|
Lookup if the member paid additional contributions to remove the young spouse reduction.
If yes, return 1,
Else
determine how long before DoD the marriage took place, then use this period to look up the applicable factor from the table, depending on whether marriage took place before or after DoR, where a member has not yet retired, and marriage is before DoR.
In the Claims Process we would need to record the date of the marriage for the above to be done or update what is already on the member's record |
|
|
MB Spouse Age Diff |
|
Lookup if the member paid additional contributions to remove the young spouse reduction.
If yes, return 1,
Else
Determine the age difference between the member and the spouse, then look up the factor in the applicable table.
Where an age difference cannot be calculated as there is no spouse, then return 0.
In the Claims Process, display the spouse's date of birth for review and update. |
|
|
Other Pensions |
|
The spouse's pension payable from other registered schemes must be added during the Claims Process to the database.
The default value for this input must be zero. |
|
|
OtherPercSLAUKRF |
|
Lookup from the previous benefit events on Vision across all UK schemes the stored percentage used of the SLA. |
|
|
PostGMPA |
|
Determine if the member is older than or equal to GMPA at DoD. If yes, return 1, if no return 0. |
|
|
PostGMPIncLateRet |
|
Refer to table 12 in the Watson Wyatt 2007 booklet (the guaranteed minimum pension increase orders).
Determine the increase factor by finding the first April after GMPAge Date and use the increase rate for that year, multiplied by the next increase rate etc. to the increase applied at the April prior to date of calculation.
If the GMPAge Date is after the calculation date, then the factor should just be 1.
Increases are captured as a percentage. |
|
POST88GMPDOTV1 |
|
|
Lookup the member transfer in record for transfer in type for the GMP portion. |
|
PO90PRE97ACCPSN |
|
|
Lookup the stored pension amount which was calculated at Date of leaving / deferment of this pension element type. |
|
PO90PRE97BPBPSN |
|
|
Lookup the stored pension amount which was calculated at Date of leaving / deferment of this pension element type. |
|
POST97ACCPSN |
|
|
Lookup the stored pension amount which was calculated at Date of leaving / deferment of this pension element type. |
|
POST97AVCPSN |
|
|
Lookup the stored pension amount which was calculated at Date of leaving / deferment of this pension element type. |
|
POST97BPBPSN |
|
|
Lookup the stored pension amount which was calculated at Date of leaving / deferment of this pension element type. |
|
PRE90ACCPSN |
|
|
Lookup the stored pension amount which was calculated at Date of leaving / deferment of this pension element type. |
|
PRE90ACCPSN |
|
|
Lookup the stored pension amount which was calculated at Date of leaving / deferment of this pension element type. |
|
PRE97AVCPSN |
|
|
Lookup the stored pension amount which was calculated at Date of leaving / deferment of this pension element type. |
|
PRE97VEL96PSNDOL |
|
|
Lookup the member's Pre97Vel96PsnDoL record. |