Decumulator (Retirement)

The following table describes the parameters for Decumulator (Retirement):

NameDataTypeDescription Mandatory Sample ValueList of possible valuesNo. of decimalsNotes 
targetGoalAmountNumberGoal AmountY1000000>02User's targetted goal amount 
annualRetirementIncomeNumberAnnual Retirement IncomeY20002This is the Annual Retirement Income the users needs, this value comes from the Retirement Expense calculator.endpoint - retirementGoalCalculatorV2sfields - totalExpendituretotalExpenditure*12 , to convert the monthly value to yearly value
retirementAgeNumberRetirement Age of user Y65>00This comes from Country Service. If client wants their own value, then hardcode it in the Front End.Endpoint - /v1/rate/:countryCodefield - retirement_age_male
genderStringGender of user male or femaleYMaleGender is either "Male" or "Female". if we are not asking for the user's gender, we assume he is a guy. Male
lifeExpectancyMenNumberMale Life ExpectancyY75>retirementAge2This value should be retrieved from the Country ServiceEndpoint - /v1/rate/:countryCodeField: life_expectancy_male
lifeExpectancyFemaleNumberFemale Life ExpectancyY86>retirementAge2This value should be retrieved from the Country ServiceEndpoint - /v1/rate/:countryCodeFields: life_expectancy_female
annualisedSavingsAcctIntRNumberAnnualised Saving Account Interest RateN0.0056"savings_account_interest_rate" of a specific country can be used from the Country Rates APIs to populate this field"Country rates APIs by the country code"field to use -  savings_account_interest_rateDefault: 0.005
annualisedInflationRateNumberAnnualized Inflation RateN0.036"inflation_rate_long_term" of a specific country can be used from the Country Rates APIs to populate this field"Country rates APIs by the country code"field to use - inflation_rate_long_termDefault : 0.03
compoundsPerYearNumberNumbers of Compounds Per YearN1>00The number of compounds per year by default to be hardcoded to 1 in the FE.The reason for the CompoundsPeryear field is to convert the interest rate value (Annual Percentage Rate) to the Effective Annual Rate.For more information - https://www\.fool\.com/knowledge\-center/what\-are\-the\-differences\-between\-apr\-ear\.aspxDefault: 1
periodStringPMT Start periodNend'end', 'beg'Values are eitherbeg - for beginning of the yearend - for end of the year Default: beg
currentYearNumberCurrent YearY20190System generated Year to date 

The following table describes the output for Decumulator (Retirement):

NameDataTypeDescriptionSample ValueNo. of decimals
YearstoDecumulateNumberNumber of years to start decumulation 100
interestRateNumberInterest Rate0.0056
inflationRateNumberInflation Rate 0.036
actualYearNumberProjection year 20200
YearsNumbernth year of goal20
ProjectedValueNumberProjected amount 300002
futureAnnuityNumberFuture Value of annualRetirementIncome that has been paid out at a given year207092
futurePVNumberFuture Value of targetGoalAmount at a given year assumming no cash outflows1051142
graphArrayDecimalValues on the graph for each year of decumulation"graphArray": [100000,...81691.91]2
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