Career average earnings pensions - Suggestions on how to enter

Voyant does not currently have a facility designed to model defined benefit arrangements that accrue based on career-averaged earnings. There are currently two options for modelling these:

1. This option may enable the software to calculate the client's benefits in retirement, as follows: Start by ensuring that the client's employment is 'un-linked' from the 'active' final salary scheme. When this is the case, you will note that a 'Pensionable Salary' field is, or becomes, available in the central part of the Final Salary screen. In this field, one could manually enter a 'pensionable salary' and, against this value, the software will apply the accrual rate, and the years of service. This means that - if the 'pensionable salary' is a plausible estimate of the client's 'average' salary - then the software will be able to arrive at a plausible retirement income, from the scheme. 

NB: this option entails that inputs (earnings) are not pulled-through from the employment screen, meaning that there is an additional hurdle to clear, in the event that the arrangement is 'contributory' (i.e. if you try to enter employee contributions, under Advanced Settings, these contributions will not be applied), and an additional 'workaround' will be necessary (in which case, please let us know).

2. The alternative - which applies any time that the software is not able to capture all the relevant details of a DB scheme, such as CARE, or one does not have the relevant details, etc.. - is to manually estimate the client's benefits (i.e. arrive at some predetermination of the likely benefits), and enter the resulting value as 'deferred' benefits, rather than 'active' benefits. When entered this way, the software will simply pay the benefits, as specified.