How do I add a pension?

  • To add a pension income to a client’s plan, navigate to Profile > Other Assets > Add Asset > select Pension.
  • Once you select Pension an Edit Pension Plan window will pop-up. Here you can input the Name, Recipient, Type (Joint Survivor or Single Life), Monthly Payment, and Distribution Age. To specify a survivor benefit and inflation rate, expand the Show Advanced section. If you input an inflation adjusted Pension the inflation rate will default to the inflation rate you have specified under Settings > Assumptions > Inflation Rate. If you would like to override this, input your pension specific inflation rate under the Show Advanced section.
  • Your client’s pension income will appear under Financial Plan > Cash Flow > Inflows > and Pension Incomes. If you have entered more than one Pension, you can expand this section to show the detail of each respective pension.
  • Lump sump pensions will be automatically rolled into an IRA the program creates specifically for the lump sum balance. The rollover is not taxable.