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Transfer Indexed Funds from one Bucket to another Bucket

This feature is used to transfer the Index Funds amount (money) from one bucket to another bucket.

Prerequisites

Investments for Index Funds should exist on a policy.
PAS user should have access to FundsTransfer transaction of Index Prototype Plan.

New Items

Transaction name: FundsTransfer

Company name: Prototype Individual Child Company

Product Name: Individual Prototype Product

Plan Name : Index Prototype Plan

Attached BR : ReassignAllocations

Changes to Existing Items

New transaction FundsTransfer is added to EligibleTransactionByPolicyStatus BR (for active policy status) override of Index Prototype Plan.

Configuration Details

The below list of fields are configured for the transaction:

Transfer Type

SOURCE DETAILS

Select Fund
Select Bucket Number

TARGET DETAILS

Number of Funds
Select First Fund
Transfer Percentage For First Fund
Select Second Fund
Transfer Percentage For Second Fund
Bucket Number
Bucket Effective Date

With this transaction user is allowed to perform 3 different types of transfers between Index Funds:

Case 1: Choose the Transfer Type field value as 'Money transfer with source and target buckets as same' and then key in the required information.

Results: After processing an activity the cash value of source fund will be transferred to the target funds based on the Percentages chosen and source bucket.

Case 2: Choose the Transfer Type field value as 'Money transfer with source and target buckets as different' and then key in the required information.

Results: After processing an activity the cash value of source fund will be transferred to the target funds based on the Percentages chosen and target bucket.

Case 3: Choose the Transfer Type field value as 'Money Transfer on a specific bucket effective date' and then key in the required information.

Results: After processing an activity the cash value of source fund will be transferred to the target funds based on the Percentages chosen, target bucket and bucket effective date.