Benefits>>Pension Admin>>Administration>>Calculations
Calculations
Having set up the Pension Interest Rates and other core values that are necessary for the system to process Pension contributions, you can now proceed to run the interest calculations. Please ensure that these values entered are correct (check with Company's Actuary).
Interest is calculated via separate tabs and are transparent to the user as follows:
1. Ordinary Member Contributions. How do I calculate interest on Ordinary Member Contributions?
2. Transfer Value. How do I calculate interest on employees' Transfer Value contributions?
3. Additional Voluntary Contributions. How do I calculate interest on Additional Voluntary Contributions?
4. Pensions in Payment Increases. How do I calculate interest on Pensions in Payment?
5. Deferred Pension Increases. How do I calculate interest on Deferred Pension Increases?
Step 1: Run the Calculations
Step 2: View the Calculations
To view the calculations, navigate to Pension Admin>>Reports>>Employee Reports and Select the report you wish to view;
OR
Navigate to Pension Admin>>Pension Administration>>Plan Members>>[find employee and expand record]>>[click respective tab].
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