[GNC] Pension Fund

[David Cousens]

Harry

If you no longer want to track the pension fund as an asset then you have to
create a transactions which removes it from your Assets and Equity. E.g.

                                              Debit                  Credit
Equity                                     xxxxx                               
Asset:Pension Fund                                            xxxxx

assuming there are no costs involved that you need to expense. 

I originally tracked my pension as non-taxable income but as my fund
provides me with a statement of investment earnings less tax paid on those
earnings, any fees and charges made by the fund and a schedule of pension
payments every 6 months, I continued to track its performance. I am required
to draw a percentage of the fund capital as a pension which varies on an
increasing schedule starting from my retirement date which is a condition of
the tax free status of the pension I receive (all inputs to the fund were
taxed on entry and all earnings are taxed in the hands of the fund
mananger). I can still control the investment mix to a limited extent from a
range of preset options, so I still have some interest in tracking the fund
performance as my pension will cease when the fund balance falls to 0 and I
don't want that to come as too much of a surprise if earlier than originally
planned.

David Cousens



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David Cousens
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