Planit:Planning Assumptions Screen

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This screen is used to centralize all of the assumptions used within PlanPlus Planit. Take a look a the topics outlined below, which will help guide you through using the Planning Assumptions screen, as well as understand how the different assumptions are used for future planning.

Please note: What you actually see within this screen will depend on your jurisdiction so don’t be concerned if you don’t see all of the same things on your deployment. What you see here will also depend on what process flow you are using.

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Planning Assumptions Screen Training

Order Title Description Key Points Level Generic Canada Malaysia United States
1 Introduction to the Planning Assumptions Screen What do I enter on the Planning Assumptions Screen?
  • Purpose of screen
  • Overview of data entry required
  • Differences with process flow
C Video Video
2 General Assumptions What do I enter in the General Assumptions fields?
  • Jurisdiction
  • Inflation assumption
  • Discount rates
  • Return reduction
  • Allocation method
  • What should you use? Defaults are fine
C Video
3 Retirement Age Where can I change my client's planned retirement age, and what does this affect?
  • Planning Assumptions
  • Savings, Pensions & Other Revenues, goals
C Video
4 Mortality Assumption Where can I change my client's assumed age of mortality, and what does this affect?
  • Planning Assumptions screen
  • Lightbulb - likelihood of mortality
  • Run out early, shorten lifestyle unnecessarily
1 Video
5 Government Benefit Assumptions Where can I change the amount of government benefits my client is assumed to receive?
  • Planning Assumptions edit
  • Add/remove benefits
  • Data entry required
1 Video Video
6 CPP Benefits How can I change the amount of CPP benefits my client is assumed to receive?
  • Planning Assumptions edit
  • Percentage, Calculate Percentage, Amount
  • Already retired clients, amount
  • Data entry required
1 Video
7 OAS Benefits How can I change the amount of OAS benefits my client is assumed to receive?
  • Planning Assumptions edit
  • Manual entry or calculation
  • Data entry required
1 Video
8 Tax Assumptions What are the tax assumptions for my jurisdiction, and how are they used?
  • Tax assumptions by jurisdiction
  • Exemptions and rooms currently available to use
  • Income splitting
C Video Video
9 Estate Assumptions Where can I change assumed estate expenses and fees, and what does this affect?
  • Planning Assumptions data entry fields
  • Estate distribution analysis and needs on death
3 Video
10 Create Scenario How do I create a separate planning scenario for my client's finances, like working longer, or moving to a smaller home?
  • Planning Assumptions, add scenario
  • Data entry scenario description
  • Changing data in active scenario
2 Video
Retired Clients How do I enter information properly for a client that is already retired?
  • Planning Assumptions - retire age, edit benefits to exact amount
  • Cash Flow incomes, input or calculate for family expenses, detailed cash flow
  • Objectives - only retirement lifestyle - edit it to be appropriate
  • Savings - empty
  • Modelling Assumptions - no work longer
Jurisdiction How does PlanPlus Planit change based on my client's planning jurisdiction?
  • Multi-jurisdiction, language and currency
  • Planning Assumptions, when you can change jurisdiction
  • Provinces/territories, Government benefits, currency, tax rates, deductions, tax treatment of estate, account types/treatment, default assumptions, insurance types, asset classes, product listings, education institutions
1 Video
Inflation Assumption How does the inflation assumption affect my client's plan?
  • Planning assumptions value
  • Indexation default for savings, goals, pensions/revenues
  • Rate of Return includes inflation
  • Tax rates inflate (tax creep)
  • Present Value vs Future Value (discount rate)
C Video
Return Reduction Can I change the assumed rate of return used by PlanPlus Planit?
  • Understand where Rates of Return comes from
  • Planning assumptions, return reduction
  • Be able to justify
C Video
Income Tax Splitting How do I show that my clients will split their pension income in order to reduce their taxes payable?
  • Setting on the Planning Assumptions screen
  • What, when and how income is split
  • Reduction in taxes payable
1 Text Text
Multiple Scenarios How do I compare different scenarios on my clients' financial goals?
  • Introduction to concept and tabs
  • Some example scenarios
  • Current and Active tabs
  • Make data entry changes for a scenario
  • See results for each scenario
2 Video