Scheduling Future Changes in Money Purchases
A New Event can also be used to add events to the timeline to schedule future increases or decreases (steps) in employee and employer contributions, growth rates, as well as future changes to asset allocations (and hence, derived growth rates).
Future changes to money purchases can be scheduled to occur at events by adding a step on the Steps section of a Money Purchase pension. To be used in stepping, the event must fall within the money purchase’s timespan. The event must be positioned prior to crystallisation or annuitisation of the money purchase.
Enter the Full Stepped Amount: When entering a future steps in contributions, be sure to enter the full, edited amount and not merely the difference between the old contribution amount and new.
Growth - a change in growth rate (or asset allocation) to be applied to the pension can also be indicated via a step on the Steps section of the money purchase pension.