The Time Panel
The contribution period for money purchases is defaulted to begin and end with owner’s earnings - as entered via the Employment screen. If this assumption about contributions is appropriate, there is no need to make any selections on the Money Purchase screen’s Time panel.
Selecting an Alternative Pension Contribution Period - Alternative events can be selected if pension contributions need to be scheduled to begin and end on a different schedule than employment income.
For example, if an income is active from the beginning of the plan but pension contributions are to begin a few years later, select a start event (green dot) to indicate when contributions are to begin.
Be sure to select an end event (red dot) to indicate when contributions should end. The owner’s Retirement event would normally be selected as the end event but a later event could be selected. Bear in mind that pension contributions will be restricted, based on pension rules, if the contributor does not have supporting earnings.
Scheduling a One-Off Contribution
Onetime contributions into money purchase would usually be scheduled on the Money Purchasescreen’s > Advanced Settings > Transfers / Additional Contributions panel. Transfers can be made into the money purchase from surplus income or other accounts.
However, selecting a single event (green dot) on the Time panel without selecting an end event (red dot) would schedule a single year, one-off contribution. The amount of this contribution would be entered as an annual total or percentage of owner income in the Contribution field, left.
Retirement Income (Webinar 2)