Summary

• Page properties (1 modified, 0 added, 0 removed)

Details

Page properties

Content

...	...	@@ -13,9 +13,16 @@
13	13	(% style="text-align:center" %)
14	14	[[image:Calculating and Loading Interim_Final Rates_html_8cba33b1e8c9fa24.gif||height="128" width="463"]]
15	15
	16	+{{info}}
	17	+(% style="text-align: center;" %)
	18	+(% style="color:#2980b9; font-size:22px" %)**TABLE OF CONTENTS**
16	16
	20	+{{toc/}}
17	17
	22	+
	23	+{{/info}}
18	18
	25	+
19	19	(% style="text-align: center;" %)
20	20	== (% style="color:#2980b9" %)**How to calculate and load Interim/Final rates on Everest**(%%) ==
21	21
...	...	@@ -33,11 +33,11 @@
33	33
34	34	[[image:Calculating and Loading Interim_Final Rates_html_aeedf1ec7013a979.png||height="178" width="91"]]
35	35
36		-Double Click on the “UPs” button for the product you want to update:
	43	+Double Click on the (% style="color:#2980b9" %)**“UPs”**(%%) button for the product you want to update:
37	37
38	38	[[image:Calculating and Loading Interim_Final Rates_html_559d28bc8ecfc4a0.png||height="100" width="381"]]
39	39
40		-A screen will open that reflects the “Used Unit Prices”. These are the prices the system is currently using for calculation of member values and benefits.
	47	+A screen will open that reflects the (% style="color:#2980b9" %)**“Used Unit Prices”**(%%). These are the prices the system is currently using for calculation of member values and benefits.
41	41
42	42	[[image:Calculating and Loading Interim_Final Rates_html_c6e0cf71f2b8533.png||height="183" width="393"]]
43	43
...	...	@@ -60,13 +60,13 @@
60	60
61	61	The new prices can be manually loaded in Everest, or the user may utilise the import file and function. Imports are preferred to prevent finger error.
62	62
63		-To load the unit prices via the import functionality, first determine the ‘**ProductID**’ for the product being updated.
	70	+To load the unit prices via the import functionality, first determine the (% style="color:#2980b9" %)‘**ProductID**’(%%) for the product being updated.
64	64
65		-To do this, ensure that the Parent is selected, go to Client → Investment Products:
	72	+To do this, ensure that the Parent is selected, go to (% style="color:#2980b9" %)Client → Investment Products:
66	66
67	67	[[image:Calculating and Loading Interim_Final Rates_html_aeedf1ec7013a979.png||height="178" width="91"]]
68	68
69		-On the screen that opens, note the **ProductID** for the relevant product:
	76	+On the screen that opens, note the (% style="color:#2980b9" %)**ProductID**(%%) for the relevant product:
70	70
71	71	[[image:Calculating and Loading Interim_Final Rates_html_b68b72a894d7efaa.png||height="88" width="366"]]
72	72
...	...	@@ -75,29 +75,28 @@
75	75
76	76	[[image:Calculating and Loading Interim_Final Rates_html_d5ab4359b6c55057.gif]]
77	77
78		-Populate the Date, **ProductID** and Unit Price columns:
	85	+Populate the Date, (% style="color:#2980b9" %)**ProductID**(%%) and Unit Price columns:
79	79
80	80	[[image:Calculating and Loading Interim_Final Rates_html_737d85a651d2cf90.png||height="158" width="139"]]
81	81
82		-To import the file, go to Accounts → Unit Price Management:
	89	+To import the file, go to (% style="color:#2980b9" %)Accounts → Unit Price Management:
83	83
84	84	[[image:Calculating and Loading Interim_Final Rates_html_570535c211e85663.png||height="191" width="86"]]
85	85
86		-Locate the “**Import your unit prices**” section:
	93	+Locate the (% style="color:#2980b9" %)“**Import your unit prices**”(%%) section:
87	87
88	88	[[image:Calculating and Loading Interim_Final Rates_html_4f1b11fda376cd0c.png||height="121" width="294"]]
89	89
90		-Click on the second **Import** button – Import Unit Prices for Parent Investment Products:
	97	+Click on the second (% style="color:#2980b9" %)**Import**(%%) button – Import Unit Prices for Parent Investment Products:
91	91
92	92	[[image:Calculating and Loading Interim_Final Rates_html_4f1b11fda376cd0c.png||height="121" width="294"]]
93	93
94	94
95		-
96	96	Browse to pick up your saved import file:
97	97
98	98	[[image:Calculating and Loading Interim_Final Rates_html_591f84d57fbc47ca.png||height="162" width="252"]]
99	99
100		-Select **Save** and **Execute.**
	106	+Select (% style="color:#2980b9" %)**Save** (%%)and (% style="color:#2980b9" %)**Execute.**
101	101
102	102
103	103	A report will be produced indicating that the headings were recognised.
...	...	@@ -107,24 +107,26 @@
107	107
108	108	To confirm the rates were correctly imported, while on the Parent go to:
109	109
110		-Client → Investment Products. Double click on “UPs” for the product imported. At the bottom of the screen click on the “New Used UPs” button. The screen that opens will reflect the new prices that are ready for use:
	116	+(% style="color:#2980b9" %)Client → Investment Products.
111	111
	118	+Double click on “UPs” for the product imported. At the bottom of the screen click on the “New Used UPs” button. The screen that opens will reflect the new prices that are ready for use:
	119	+
112	112	[[image:Calculating and Loading Interim_Final Rates_html_c2201debac9c4fd5.png||height="149" width="244"]]
113	113
114	114	Once satisfied that the unit prices have been successfully imported, the prices are required to be linked for use in calculating the member values and benefits for the interim rate period.
115	115
116		-Go to Accounts → Unit Price Management:
	124	+(% style="color:#2980b9" %)Go to Accounts → Unit Price Management:
117	117
118	118	[[image:Calculating and Loading Interim_Final Rates_html_570535c211e85663.png||height="191" width="86"]]
119	119
120	120
121		-Locate the “**Link your investments**” section:
	129	+Locate the (% style="color:#2980b9" %)“**Link your investments**”(%%) section:
122	122
123	123	[[image:Calculating and Loading Interim_Final Rates_html_b993779320601de0.png||height="114" width="630"]]
124	124
125		-Click on the **fifth** “Select” button – Update used product prices from the ‘Start Date’ to the End Date’ section.
	133	+Click on the(% style="color:#2980b9" %) **fifth** (%%)“Select” button – Update used product prices from the ‘Start Date’ to the End Date’ section.
126	126
127		-In the screen that opens, select the product you want to update, date range you want to link and select “Test” in the **Custom 1** field. The Parent should be pre-populated but please do check it.
	135	+In the screen that opens, select the product you want to update, date range you want to link and select “Test” in the (% style="color:#2980b9" %)**Custom 1**(%%) field. The Parent should be pre-populated but please do check it.
128	128
129	129	[[image:Calculating and Loading Interim_Final Rates_html_13e8528d92a2925e.png||height="103" width="250"]]
130	130
...	...	@@ -136,8 +136,10 @@
136	136
137	137	To check that the prices updated correctly, while on the Parent go to:
138	138
139		-Client → Investment Products. Double click on “Ups” for the product. On the first screen that opens the new prices should appear.
	147	+(% style="color:#2980b9" %)Client → Investment Products.
140	140
	149	+Double click on “Ups” for the product. On the first screen that opens the new prices should appear.
	150	+
141	141	[[image:Calculating and Loading Interim_Final Rates_html_c148949d49fee58c.png||height="141" width="383"]]
142	142
143	143
...	...	@@ -153,12 +153,12 @@
153	153
154	154	__[[Monthly Retrospective Adjustment>>path:#_Retrospective_monthly]]__– All transactions processed in the interim period will have to be repriced. Any claims processed in the interim period will result in either positive or negative orphan units. If you are going to reprocess the claims and either pay additional or claw back overpayments, then this method will work for you.
155	155
156		-__Annual Adjustment__ – The transactions for the interim period would be unaffected and the active member values would be adjusted at the final once off date.
	166	+(% style="color:#2980b9" %)__Annual Adjustment__(%%) – The transactions for the interim period would be unaffected and the active member values would be adjusted at the final once off date.
157	157
158		-**NB!** With both methods, if you were processing claims for the period AFTER the Final rate was declared for, these claims would also create orphan units. It is best practice to hold payment of claims until the Final Rate is declared.
	168	+(% style="color:#2980b9" %)**NB!** (%%)With both methods, if you were processing claims for the period AFTER the Final rate was declared for, these claims would also create orphan units. It is best practice to hold payment of claims until the Final Rate is declared.
159	159
160	160
161		-=== (% style="color:#2980b9" %)**Final – Monthly Retrospective Adjustment**(%%) ===
	171	+=== (% style="color:#2980b9" %)**Final - Monthly Retrospective Adjustment**(%%) ===
162	162
163	163
164	164	To calculate the monthly retrospective adjustment for the period, use the Unit Price calculator provided by your consultant. OVERRIDE the Interim prices used in the original calculation spreadsheet with the new final rate:
...	...	@@ -169,11 +169,11 @@
169	169
170	170	[[image:Calculating and Loading Interim_Final Rates_html_aeedf1ec7013a979.png||height="178" width="91"]]
171	171
172		-Double Click on the “UPs” button for the product you want to update:
	182	+Double Click on the(% style="color:#2980b9" %)** “UPs”**(%%) button for the product you want to update:
173	173
174	174	[[image:Calculating and Loading Interim_Final Rates_html_559d28bc8ecfc4a0.png||height="100" width="381"]]
175	175
176		-Click on the **“New Used Ups” **button at the bottom of the screen:
	186	+Click on the (% style="color:#2980b9" %)**“New Used Ups” **(%%)button at the bottom of the screen:
177	177
178	178	[[image:Calculating and Loading Interim_Final Rates_html_7126ffabb5613f89.png||height="59" width="131"]]
179	179