More on pensions
Questions and Answers:
1. I have a widow with a child receiving a CPP survivor's benefit of about $700 a month till retirement but I cannot find anywhere to enter this data.
Answer: if you want to include it in the spouse’s budget, enter it as ‘Other Income’ in ‘Sources of Income’. You can put the current year for starting year, and the year it ends as the ‘Ending Year’.
2. If client takes early pension with bridging, the system simply wants to know the annual amount of bridging to 65, not the amount of pension paid annually to 65. Correct?
Answer: Yes. If there are accruals make it a current defined benefit plan, if not, make it a ‘prior defined benefit plan’.
3. Is there any way to show client is a widow? I am showing now as married but spouse with no income.
Answer: Just do a single calculation. In ‘General Information’ uncheck ‘Do calculations for Both Spouses’.
4. I finished the client calculations then saved it, but into 'My Documents'. It is there but I cannot open it again. Should I have saved the file under ‘Files’, which is the default?
Answer: You can only open files from within RetireWare, but can save them in any directory you wish. On the File menu, click Open and browse to ‘My Documents’ and you will see your file.
5. How do I get into the client file to revise/edit the information and to experiment?
Answer: Open the file and do ‘save as’ if you wish to try a few different settings. Or open the file, make changes and if you’re not satisfied don’t save your changes.
6. I cannot get the 'inflation-adjusted' button to work. Nothing is changing when I am viewing the income forecast.
Answer: It is a toggle button. Close any results window, press the button so it’s in the ‘on’ position, then open the window and the results will show on an inflation-adjusted basis.
7. I have a lot of 'non-registered' savings accruing in retirement due to excess income. Is there a way to project how much income will be generated from the assets rather than having all this surplus building up?
Answer: You must increase the retirement income objective in ‘Retirement Income Target’, otherwise, the excess is saved.
1. I have a widow with a child receiving a CPP survivor's benefit of about $700 a month till retirement but I cannot find anywhere to enter this data.
Answer: if you want to include it in the spouse’s budget, enter it as ‘Other Income’ in ‘Sources of Income’. You can put the current year for starting year, and the year it ends as the ‘Ending Year’.
2. If client takes early pension with bridging, the system simply wants to know the annual amount of bridging to 65, not the amount of pension paid annually to 65. Correct?
Answer: Yes. If there are accruals make it a current defined benefit plan, if not, make it a ‘prior defined benefit plan’.
3. Is there any way to show client is a widow? I am showing now as married but spouse with no income.
Answer: Just do a single calculation. In ‘General Information’ uncheck ‘Do calculations for Both Spouses’.
4. I finished the client calculations then saved it, but into 'My Documents'. It is there but I cannot open it again. Should I have saved the file under ‘Files’, which is the default?
Answer: You can only open files from within RetireWare, but can save them in any directory you wish. On the File menu, click Open and browse to ‘My Documents’ and you will see your file.
5. How do I get into the client file to revise/edit the information and to experiment?
Answer: Open the file and do ‘save as’ if you wish to try a few different settings. Or open the file, make changes and if you’re not satisfied don’t save your changes.
6. I cannot get the 'inflation-adjusted' button to work. Nothing is changing when I am viewing the income forecast.
Answer: It is a toggle button. Close any results window, press the button so it’s in the ‘on’ position, then open the window and the results will show on an inflation-adjusted basis.
7. I have a lot of 'non-registered' savings accruing in retirement due to excess income. Is there a way to project how much income will be generated from the assets rather than having all this surplus building up?
Answer: You must increase the retirement income objective in ‘Retirement Income Target’, otherwise, the excess is saved.
posted by Apeiron Software at
4:33 PM
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