v7 FreeBalance Help

Retirement Type is a catalogue of the different Retirement Types available for a particular implementation. To CREATE a Retirement Type, follow the steps below:

Navigation

By default, you will be in Search Mode.

1. Click on the New icon   (you will then be in Insert Mode).
2. Enter the new Retirement Type information.  Fields with an asterisk  are mandatory fields.
3. Enter the ID, click on the Retirement by Death and Mandatory Retirement checkmarks, as required.

• ID: Unique identification code of the Retirement Type.
• Retirement by Death: Retirement by Death Status - if checked, indicates that the Retirement Type is only applicable when the employee is deceased.
• Mandatory Retirement: Mandatory Retirement Status - if checked, indicates that the Retirement is Mandatory .

4. Select a Type.

• Type: Either Mandatory Retirement, Retirement by Death, or Voluntary, from the drop-down menu.

5. Enter Age.

• Age: Mandatory Retirement Age.

6. Enter the Minimum Months.

• Minimum Months: The minimum months in service required to apply to this retirement type.

7. Enter the Minimum Consecutive Periods.

• Minimum Consecutive Periods: The minimum periods required in consecutive service to apply to this retirement type.

8. Select the Language, as required.

• Language: Language used.

9. Enter Name.   

• Name: Name of the retirement type.

10. Click on the Save icon  at the bottom of the Retirement Type page to save your new Retirement Type information. A window will appear to confirm.