Life Cycle Control – Savings Scheme Agreement 

Use

In the context of a savings scheme agreement, the life cycle control function ensures control of the term and the actions taken at certain times during the duration of the contract. The basis for this are the details concerning the duration of the savings scheme agreement and the savings phase and inactivity phase, entered on the Savings Scheme Agreement tab page for the account contract (refer to Editing a Savings Scheme Agreement).

 

Scope of Functions

When the end of the savings phase or the savings scheme agreement is reached, the system creates correspondence for the customer. When the end of the savings scheme agreement is reached, the system also carries out the action, as stored. For more information, refer to the documentation for the Final Response field on the Savings Scheme Agreement tab page for the account.

Reports are available to you for creating correspondence and for ending a savings scheme agreement that you can also schedule in the job chain for end-of-day processing.