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Zen Section
id55477993

Details

In this task we are determining the tax exemption percentage applicable to the Round Table Fund under Deemed Segregation.

 

At 1 July 2017, the fund is in has some members in pension phase and the other member in accumulation. On 15 May 2018, all of the members are in pension phase using the entire balance of the account.

 


Zen Section
id55478004

Instructions

To process this in Simple Fund 360:

  1. Navigate to the Fund Pension Policies screen
    Include Page
    IL:_ScreenAccessActuarySetting
    IL:_ScreenAccessActuarySetting


  2. Click New Actuarial Certificate


  3. Select Manually Enter Details and select the financial year:


  4. Click Manually Enter Details

  5. Enter the Tax Exempt (Actuarial) Percentage for the Unsegregated period:


  6. Enter the Start date as the date the segregated period commences. This will be the day the pension commences in this example. Enter the End date for the Segregated period then click Add:


  7. Choose the method to calculate the expense deduction then click Save:


  8. Review the fund pension policy posted by Simple Fund 360:
Info
titleCertificate Status

Using an integrated actuary certificate provider

Deemed segregation is fully supported with our integrated actuary certificate providers.

To process the scenario above using Simple Fund 360's integrated actuary certificate providers:

  1. Navigate to the Fund Pension Policies screen
    Include Page
    IL:_ScreenAccessActuarySetting
    IL:_ScreenAccessActuarySetting


  2. Click New Actuarial Certificate


  3. Select Request Actuarial Certificate and the financial year:
  4. Click Request Actuarial Certificate:

  5. Select a supported provider then click Next

    Info
    titleSupported Providers

    For a list of supported providers, please refer to Fund Pension Policies

  6. Confirm the contact details for the fund then click Next


  7. Confirm the fund's eligibility to use the Segregated method (applicable in this example) then click Submit to Actuary:

  8. Click 'Click here to complete your application'
  9. Log in the actuary certificate provider's website (This example is using Act2):
  10. Review the details of the percentage then request the certificate:

  11. Review the fund pension policy received from the actuary provider in Simple Fund 360:

The Certificate Status will sometimes not change to Confirmed when requesting a certificate through Act2. Act2 will add this ability at a later stage.

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