Enables you to set up and maintain details for the pension scheme that are needed for the calculation of benefits from this scheme. These details include the accrual rate, service details and whether there are any vesting rules.

General

Scheme, Scheme Group

Display only. These show the pension scheme code and scheme group code from the first Pension Scheme Details screen.

Accrual Type

Enter the accrual type to be used in the calculation of benefits, or select one from the drop-down list. The options are set up in the ACCTYP narrative category.

Service Rounding

Enter the method of rounding code that is used by the system for calculating members’ length of service in the scheme, or select one from the drop-down list. The options are set up in the SERRND narrative category. For example, service may be calculated using only whole periods or whole periods with rounding on surplus days. If service rounding on surplus days is carried out, use the Part Period field to specify the point at which rounding up or down takes place.

Part Period

You can only use this field if you specify a code at the previous field giving service rounding on surplus days. Enter the number of days in the period at which rounding takes place. For example, if you enter ‘15’ and there are 15 surplus days, service is rounded up to the next whole period. 14 surplus days would round the service down to the previous whole period.

Maximum Service

Use this field to record a maximum service requirement that may exist for the scheme. This can also be used in benefit calculations.

Click WINDOW to display the Service Period Data Entry window and enter the maximum service to be allowed in the scheme using the standard period format.

Vesting Rules

Vesting may be applied to different benefit calculations carried out for the scheme. Click WINDOW to display the Vesting Rules Parameters window where you record the calculation types for the scheme and whether vesting is to be applied.

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