The consolidation screens use the same adjustments as available in the Multi-lender, Investment and Pension screens. The debt option is the same as the Multi-lender, the Invest and the investment screen and the Pension the same as the pension screen.

 

Set adj portion %

 

This adjustment apportions other adjustments based on the percentage entered.

 

This is very useful when splitting investment cases where you can use the original adjustments and set to split them on the notional calculation to say 25% / 75% or 50% / 50%.

 

Example

 

Main adjustment set

 

1          Investment                    01/03/2010        £1,000

2          Withdrawal                    05/10/2012        £500

 

Notional adjustment set

 

1          Set adj portion %          01/03/2010        25.000              20/06/2013        Part A

1          Set adj portion %          01/03/2010        75.000              20/06/2013        Part B

 

This would apportion 25% of the investment (£250) and withdrawal (£125) to Part A and 75% of the investment (£750) and withdrawal (£375) to Part B.

 

Annual Salary

This adjustment is used as part of Consolidation Pension cases to enter the amount earned over the period of a year. This can be used alongside other detail to calculate the GMP Earnings Factor.

 

NI Weeks Missed

This adjustment is used as part of Consolidation Pension cases to enter the number of weeks that a customer has not made their National Insurance contributions. Value entered would be given in weeks.

 

Contracted out NI

This adjustment is used as part of Consolidation Pension cases to enter amount of NI contribution paid by employee

 

Earnings factor

This adjustment is used as part of Consolidation Pension cases. Earnings factors are obtained from the employee’s contracted-out NICs paid on earnings between the Lower and Upper Earnings Limits. These can be either manually entered in or calculated using the system. For the system to calculate the earnings factors, you will need to enter either the Annual Salary or the Contracted Out NI or both. If any national insurance contributions have been missed, those will need to be entered in too using the NI Weeks missed adjustment.

 

Revalued earnings factor

This adjustment is used as part of Consolidation Pension cases to apply the yearly Social Security Revaluation of Earnings Factors Order on earnings factors.

 

Daily interest factor % (for pension calculations)

This adjustment applies an interest rate to the calculation for the period entered in.

 

Display periods (for pension calculations) 

This adjustment changes the display conventions in Redress Manager from date to periods (1 – X).

 

Payment received

This adjustment is used to show a credit against the credit card balance relating to a payment from the consumer

 

Insurance premium

This adjustment will show a debit against the credit card balance relating to a charge for PPI insurance

 

Interest

This adjustment will show a debit against the credit card balance relating to the monthly interest charge

 

Purchase

This adjustment will show a debit against the credit card balance relating to a purchase made by the consumer

 

Refund

This adjustment is used to show a credit against the credit card balance relating to the refund from the card provider

 

Late payment fee

This adjustment is used to show a debit against the credit card balance relating to the consumer making a late or missing a monthly minimum payment

 

Over limit fee

This adjustment will show a debit against the credit card balance relating to the consumer exceeding their agreed credit limit

 

Cash advance fee

This adjustment will show a debit against the credit card balance relating to the consumer making cash withdrawal

 

PPI adjustments:

 

Payment received

Insurance premium

Interest

Purchase

Refund

Late payment fee

Over limit fee  

Cash advance fee

Related Topics

Adjustments