Timing - Schedule recurring future contributions to savings and investments

Time panel selections are conditional for savings and investments, with the notable exception of life funds (bonds) and discounted gift trusts. Time panel selections are not required if your client is not planning recurring future contributions.

If regularly scheduled contributions are planned, set a contribution period by selecting a start event (green dot) and an end event (red dot) or one or more stages on the Time panel. The amount of these contributions is entered as an annual total or percentage of owner income in the Contribution field, left.

For example, if contributions to a savings account are to begin in the first year of the plan, simply select the Start event (green dot). If contributions are to end when the account owner retires, select the owner’s Retirement as the end event (red dot). Contributions would then recur annually from Start to Retirement.

If you want to schedule contributions to continue until the very end of the plan, select the final Mortality event in the timeline.

The New Event button, on the Time panel’s Event tab, can be used to add events to the timeline if other start or end events are needed. 

Note: One-off contributions from surplus income and transfers between accounts (other savings or investments) are scheduled separately from contributions on the Savings or Investments screen’s > Advanced Settings > Transfers / Additional Contributions panel. 

 

Time Panel Event Selections for Life Funds and Discounted Gift Trusts

Timing works differently for onshore and offshore life funds and discounted gift trusts. These products require start and end events to specify whether the bond or DGT is currently owned or when it will be bought in the future and when it will be fully encashed. 

 

Schedule a Onetime Contribution 

Onetime contributions into a savings account or investment are usually scheduled on the Savings or Investments screen’s > Advanced Settings > Transfers / Additional Contributions panel.  Transfers can be made into accounts from surplus income or other accounts. Read more >>

However, selecting a single event (green dot) on the Time panel without selecting an end event (red dot) would schedule a single year, one-off contribution.  The amount of this contribution would be entered as an annual total or percentage of owner income in the Contribution field, left.