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 Factors and Factor Tables

Factors are usually used in Defined Benefit calculations where a benefit is increased or decreased by a factor, which is based on age.

Viewing Factor Tables

Other Menu Select “Factors”

A list of previously loaded factor tables will appear.

Select the view hyperlink to view the factors.

Adding a New Factor Table

There are two steps to creating a new factor table.

Other Menu Select “Factor Types”

Click on the “Add a new row” field.

Populate the new factor type name.

Save Press the “Update” button and “Save” button.

Other Menu Select “Factors”

Click on the “Add a new row” field.

Populate the “Type” from the drop down selection. “Description” is a free text field, but it is advisable that this is the same or similar to the “Type” name as this is the table name that will appear on the Benefits screen.

Save Press the “Update” button and “Save” button.

Select the view hyperlink to view and edit the factor table.

Click on the “Add a new row” field.

Add a row for each scale level.

Save Press the “Update” button and “Save” button.

Note The Gender and service fields are used IF there are different factors applicable for these variances, but are not mandatory.

Interpolation

If the factors must be interpolated, i.e. converted to monthly age bands, you can add rows for the annual age bands and then submit an Issue Log to the consultant to run an interpolation script.

An example of annual age bands is below: