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Old 07-03-2018, 04:30 PM
HC1994 HC1994 is offline
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Join Date: Apr 2013
Studying for DP-A & FV-A
College: University of Waterloo and Wilfrid laurier University
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Default EOM 3 Understanding the Spreadsheet and Requirements

In my understanding, the overall key requirements as well as where to actually find them in Excel spreadsheet are,
  1. 15% of the Pensionable Earning, found by changing 'Input'G23:G24
  2. Pension target is 70% of the Pensionable Earning, shown in 'Result'F15
  3. The minimum Contribution Rate must be no less than 75% of the maximum Contribution Rate

Given that the above assumptions are correct, then my question are,

For point 1, are we supposed to manipulate 'Input'G23:G24 to get to 15%? If so, the Excel sheet is set-up to take the minimum of G23:G24 and 15%. So regardless what we do in 'Input'G23:G24, it will never be above 15%. So what's the point this?

For Task 2, I cannot get to 70% pension target even if I set the contribution to 15%/15% for any of them. Highest I could get is like 69.65%. What am I doing wrong here?

Lastly, question on task 5. Those that are 20 years old could easily get to the 70% target, but most of others cannot. Am I then looking to find a single DC formula that will let the 20 years old employees hit their 70% target exactly, while maximizing the aggregate total contribution, and at the same satisfied the 75% max-min differential?


I am really stuck and I feel like I am understanding this whole thing incorrectly. Please any help will be greatly appreciated!
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