PenTechX Lab - Pension Technology Solutions

This is an example of how a WebApp can be used to help members of a pension scheme that is going through a significant scheme change to model their future benefits.

In this case our scheme is giving members an option of remaining in their existing scheme or moving to a new one on a specified date. This WebApp allows a member to get easily retrieve their pension details using their Scheme Member Number and then project different future scenarios and how their benefits may be impacted.
This WebApp would form part of a larger member communications piece.

Step 1 - Retrieve your pension data

Enter your scheme member number (1 to 100) :

Error messages : Get Data

Your current pension benefits and data.

Gender :

Date of birth :

Earnings :

Details about your Final Salary Pension accured before 31/12/2011

Service (Years) :

Service (Days) :

Contracted Hours (only complete for part time service) :

Standard Hours (only complete for part time service) :

Details about your Career Averaged Pension accured after 1/1/2012

Career Averaged Pension :

Click here to calculate your future benefits

If you want to change the future assumptions expand the section below

Future salary growth assumption :

Inflation assumption :

Error messages : Calculation not done, click 'Calculate my benefits'.

Use the sliders model your projected pension

Use the sliders to adjust your Target Pension Age and Lump Sum to compare your future benefits under 'Option 1 - Remain in the current scheme', or 'Option 2 - move to the new scheme'.

Target Pension Age:

Target Percent Commuted:

Function Information

Function name
SchemeChange
Description
Used to help members of a pension scheme that is going through a significant scheme change to model changes.
API sample signature (new window)
Complex Web App
Inputs required
Complex Class
Outputs
Complex Class
Version number
Beta V0.0.1
Technical notes
PTX.WebApp. The calculation of a projected pension for this scheme is not linear. The code in this App projects forward the benefits for three pension schemes which have each have an independent basis, static and State Pension ages, different early and later retirement factors, order of commutation and business rules. 30,350 pension and lump sum values are calculated and passed to the web page to support smooth and dynamic charting. This design pattern allows high powered azure servers to carry out calculations and not the client/user’s device.