5.6 Investment and Premiums Calculator

Redress Manager 2023
Investment and Premiums Calculator

Due to the multi-functional ability within Redress Manager we have extended its uses to include Investment Calculations.

A new screen for investments and premiums rollups has been created within the system. As this screen is tailored to meet the requirements of an investment or premium roll up case, it is noticeably different to the multi-lender screen.

There are 7 options (actions) available on this screen:

1. Fund versus Fund - compares one fund against another

2. Fund versus Interest - compares fund to interest (interest options available are Daily compound, Monthly compound, Annual compound, AER compound, monthly APR compound, Annual Fixed compound and Simple). There is also an option to select a table, increase the rate of interest and include tax.

3. Interest versus Fund - as above (2) but reversed

4. Interest versus Interest - compares one interest method to another

5. Interest rollup - calculates the interest accumulated on a premium refund based on the interest options selected or adding further interest to a result

6. Fund only - used when no comparison is involved

7. Redress + Interest - calculates the results from 1 - 3, plus the interest (interest options as above in point 2)

a)	Customer Name
b)	Initial Amount
c)	Account Reference
d) e) f) g) h)	Policy (Internal) Reference Type (Dividend) of interest for dividends should be selected Name (Dividend) of the interest rate required should be selected Add% (Dividend) allows an additional percentage to be added onto the rate selected e.g. BOE Base Rate + 1% Tax % (Dividend) should be selected if tax is to be deducted from the Dividend Interest values
i)	Action (select from Dropdown option) the type of comparison that is required
j)	From date
k)	To date
l)	Allow partial fund units should be ticked if required (allows for splits based to the nearest 0.01 of a unit)
m)	The Type of the actual calculation should be selected
n)	The Name for the Type selected should be chosen
o)	Any additional % onto the value should be entered
p)	Any Tax % to be removed should be entered
q)	The notional Type must be selected
r)	The Name for the Type should be selected
s)	Any additional % onto the notional value should be entered
t)	Any Tax % onto the notional should be entered
u)	Inc. PSA (personal savings allowance) based on PSA table and dates

	Run wizard
	Calculate and display results on screen

	Calculate and print to printer

	Create PDF file. When selecting this option you will be requested to enter a file name for the file. PDF files replicate printed output and FREE readers are available.

	Verify screen

	Save current data for client

	Exit current screen

	Redress Status allows the user to record the redress amount through different stages of the calculation process.