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NaviPlan Standard Windows-based
Training & Support

Frequently Asked Questions


What if the tax rate does not coincide with the income bracket selected?

  • On the Assumptions category – Tax tab, users can select a pre-retirement, retirement, and estate income bracket for the client, co-client, and dependants. NaviPlan populates the AverageTax Rate and MarginalTax Rate fields.
  • If the tax rates shown are not appropriate for the clients’ particular situation, users can enter applicable average and marginal tax rates to be used.
  • If the average and marginal tax rates are overridden, the income bracket displayed may no longer coincide with the clients’ actual income.
  • Users should ignore the income bracket displayed as it has no impact on the plan.

Why are some menu items grey and unavailable?

There are three possible reasons:

  1. No client file is open on the desktop. To open a client file and enable the menu items, go to the File menu, and then select OpenClient.
  2. No plan is open on the desktop. To open a plan, right-click the file cabinet icon, and then click Open. Drag the desired plan onto the desktop or double-click its icon.
  3. An applicable object is not selected on the desktop. Select an object and retry the command.

Why are some buttons grey and unavailable?

There are two possible reasons:

  1. You have not created any assets or loans in a strategy.Click the Insert button to create an asset or loan for use with the strategy.
  2. The function related to the button cannot be used for the current action.

Why is there a file cabinet with no plans in it?

  • Information regarding the client such as the name and date of birth has been entered, but no financial data or assumptions have been recorded for the client.

Why is there no printer icon on the desktop?

There are two possible reasons:

  1. The printer icon has been closed.To open it, go to the File menu, and then select New Printer. A ew Printer dialog box opens. When finished using the printer, minimize the Printer dialog box. Clicking the X orclosebutton in the top right corner of the dialog box closes the printer icon again.
  2. There is no valid printer defined on your computer.Contact your systems administrator.

How can a new family member be added to the client file?

  1. Go to the Data menu, and then select Client – Add Family Member.
  2. Enter the new family member’s personal data, and then click OK.
  3. A message appears warning that a new family file will be generated. Click Yes.
  4. In the Save As dialog box, either keep the current client file name, or replace it with a new file name, and then click OK. The new member is added to the client file and to all existing plans.
  5. To retain a copy of the original client file without the new family member, enter a different name for the file in the Save As dialog box,and then click OK.

How can a family member be removed from the client file?

  1. Go to the Data menu, and then select Client – Remove Family Member.
  2. Select the family member to be removed, and then click OK.
  3. A message appears warning that a new family file will be generated. Click Yes.
  4. In the Save Client As dialog box, either keep the current client file name or replace it with a new file name, and then click OK. The selected family member is removed from the client file and all existing plans.
    To keep a copy of the original client file with the deleted family member, enter a different file name, and then click OK.

What happened to the asset class entries in the Assumptions category?

Asset class entries in a plan can be accidentally erased if the user has not created default asset classes.

  • On the Assumptions category – Asset Classes tab, clicking Revert to Defaults brings in the asset class defaults entered in the Preferences dialog box. However, if asset class information was not defined in Preferences dialog box, then no defaults exist. In this case, clicking Revert to Defaults will delete asset class values entered on the Assumptions category – Asset Classes tab.

To prevent the accidental loss of asset classes

  1. Go to the Edit menu, and then select Preferences to open the Preferences dialog box.
  2. On the Asset Classes tab, enter asset class defaults that apply to all clients and plans in NaviPlan Standard.

Defaults can be overridden in an individual plan on the Assumptions category – Asset Classes tab.

Is it possible to use NaviPlan Standard client files in NaviPlan Extended?

NaviPlan Standard client files can be used in NaviPlan Extended.

To open a NaviPlan Standard client file in NaviPlan Extended

  1. Go to the File menu, and then selectOpenClient.
  2. In the File Type menu, select Import Files (*.NPS).
  3. Select the NaviPlan Standard file from the list. A message appears confirming the file has been copied and imported successfully. There are now two files with the same name and different extensions (.npe and .nps). The NaviPlan Standard file is unchanged

Why are some of the assets shown in blue text and some in black

  • Assets shown in blue text were created automatically by NaviPlan Standard.
  • Assets shown in black text were created by the user.

If after defining a goal, linking assets, and creating savings strategies, enough money is not available to fund the goal, NaviPlan Standard creates a default non-qualified asset and corresponding savings strategy to which additional savings will be directed.

If the goal becomes sufficiently funded without the NaviPlan Standard–created asset, that asset is automatically deleted.

Why can’t the savings strategies shown in blue text be modified?

Strategies and assets displayed in blue text are created automatically whenever a goal requires additional savings, and cannot be directly modified.

  • System-created assets can only be modified by changing the supporting plan’s data. For example:
    • Link one or more assets to the corresponding goal.
    • Alter the return rate for the assets that were already linked to the goal.
    • Change the amounts required for the goal.
  • When changes are made that affect the goal, the system-created assets or strategies may change or disappear.

Why does NaviPlan Standard automatically create non-registered assets when retirement goals require additional savings?

There are limits to the registered contributions clients can make. These limits may change from year to year based on salary changes, pension adjustments, and changes in contribution limits that can make a registered contribution impossible. As a result, additional retirement savings are directed to a non-registered asset.

  • On the Goals category – Retirement tab, users can choose to have NaviPlan Standard direct additional savings to registered assets as well as non-registered assets.

What is the difference between the capital gains and deferred growth return rates?

The terms “capital gains” and “deferred growth” both refer to capital gains; the difference is when taxes are applied. Typically, a capital gain is the result of the difference between the price paid for an investment and the price for which it is sold.

  • When a percentage is entered as a capital gain, it is the expected annual return attributed to capital gains, or the portion of capital gains that will be realized annually and taxable each year.
  • When a percentage is entered as deferred growth, it is the expected annual rate of return to be attributed to the growth of the investment. Taxes are not applied to deferred growth until he year in which the investment is redeemed or, in the case of a projection, at the end of the specified period.

Is it possible to position two or more graphs or reports side-by-side on the desktop?

To position multiple reports or graphs side by side, use one of these methods:

  • Right-click on the desktop, and select Tile Horizontal or Tile Vertical.
  • Go to the Windows menu, and then select Tile Horizontal or Tile Vertical.

What is the difference between the average tax rate and the marginal tax rate in NaviPlan Standard?

On the Assumptions category – Tax tab, there are separate fields for the Average Tax Rate and Marginal Tax Rate.

  • The average tax rate (also referred to as the effective tax rate) is the percentage calculated when the total taxes paid are divided by the taxable income. NaviPlan Standard applies the average tax rate to determine the amount of tax payable in its projections.
  • The marginal tax rate is the combined federal and provincial tax rate and is the rate that will be applied to the next dollar of earnings.

There is a difference between the two rates because Canada has a graduated tax rate system. Graduated tax rates simply mean that there are increasing levels of tax rates that apply as taxable income increases.

How does NaviPlan Standard tax different types of income?

NaviPlan Standard applies the average tax rate to the following income types:

  • Salary
  • Self-employed
  • Defined benefit
  • Other taxable

NaviPlan Standard applies the marginal tax rate to the following income types:

  • Royalty
  • Alimony
  • Misc. dividend
  • Misc. net rental income
  • Investment income

How does NaviPlan Standard apply the average tax rate to the different types of investment income?

NaviPlan Standard applies the average tax rate to the taxable portion of the various investment incomes.

  • For capital gains, the taxable portion is now 50%.
  • Dividends are first grossed up by 25% to obtain the taxable amount, then the average tax rate is applied, and finally, a dividend tax credit of 13 1/3% of the taxable amount is subtracted from the amount of tax calculated.
  • The average tax rate is applied to the total amount of interest and other investment income.

How are the default tax rates determined within NaviPlan Standard?

  • The default tax rates used in NaviPlan Standard for federal and provincial/territorial tax rates are specific to each province and supported territory in Canada.
  • Rates are accurate for residents of each province and supported territory as of the 2003 tax year. Province-specific rates allow for greater accuracy in calculating cash flow and income taxes. Note: NaviPlan Standard does not support Nunavut and non-resident jurisdictions at this time.
  • If the correct tax rate that applies to the clients is known, it can be entered on the Assumptions category – Tax tab.
  • The default income amounts shown for each specific tax rate do not affect the incomes entered in the Incomes category.

Is it possible to determine if OAS is being clawed back?

To determine if OAS is being clawed back, go to the Reports menu, and then select Cash Flow – Income Tax Summary. This report gives a yearly breakdown of all income flows, marginal tax calculations, and average tax calculations. It also shows any OAS clawback amount.

Why is investment income listed twice in the Cash Flow Analysis, once as investment income and again as a reinvestment expense?

Investment income may be seen twice in cash flow.

  • Investment income is first seen when it is paid out as an income.
  • After being paid out, the income is then re-invested, so it shows as an expense.

These two entries should cancel each other out. Users can review the Single Asset – Detailed report to view the income being re-invested.

What do the percentiles represent in the Monte Carlo simulation?

The percentiles for the Retirement Goal report on the net worth at the end of the plan. The ending net worth figures includes lifestyle assets net of liabilities.

  • The 90th percentile is ending net worth of the projection such that 90% of the ending net worth results falls below this value.
  • The 50th percentile is ending net worth of the projection such that 50% of the ending net worth results falls below this value.
  • The 10th percentile is ending net worth of the projection such that 10% of the ending net worth results falls below this value.

The percentiles for all other goals represent the accumulated savings.

What is the difference between Income Coverage and Goal & Expense Coverage method?

Income Coverage:

  • When using the Income Coverage Analysis method, NaviPlan analyzes the amount of insurance needed to maintain the survivor’s standard of living.
  • The user must account for the survivor’s income, the lost income due to death, and any lump-sum needs or expenses that would occur because the client died.
  • NaviPlan calculates an insurance recommendation for an amount to replace the lost income and cover any additional lump-sum expenses that have been defined.

Goal & Expense Coverage:

  • Using the Goal & Expense Analysis method, NaviPlan calculates an insurance recommendation that accounts for the goals and expenses defined in the plan.
  • The user has the ability to change the parameters of the goals and expenses to cover the survivor’s needs.

How can a document be edited within NaviPlan?

This feature is only available if Microsoft Word is installed on the computer. Both the following methods will convert the NaviPlan menu commands to the Word menus and allow the user to modify the text directly in NaviPlan.

  • With the document selected, go to the File menu, and then select Edit <document name> As Text Document.
  • Right-click the title bar of the document, and then select Edit – As Text Document.

How can the data entry be accessed?

Use any of the following instructions:

  • Right-click the plan folder, and then select Edit.
  • Go to the Data menu, and then select the applicable menu item.
  • Click the file folder icon in the top right corner of any report or graph to edit the information included in the associated plan.
  • Right-click the title bar of any report or graph, and then select Edit – Plan Settings.

Can NaviPlan be used on two computers?

NaviPlan can be used on two computers. There are two ways to gain access to NaviPlan on two computers.

  • If a secondary license is available, it can be authorized.
  • The existing authorization key can be transferred to the unauthorized computer. To do this, go to the File menu, select Security, and then go to the Transfer tab. Users requiring assistance transferring the authorization key should contact the Authorizations desk by calling 1-888-692-3474, and then electing option 3.

Is it possible to use a company logo on client reports and graphs instead of the NaviPlan logo?

To insert a company logo

  1. Go to Edit menu, and then select Preferences to open the Preferences dialog box.
  2. On the General tab, beside the Logo field, click the browse(…) button to open the Select Logo File dialog box.
  3. Locate the graphic file, and then click OK. The name and location of the file should appear in the Logo field.

Note : The dimensions of the image in the graphic file should be a maximum width of 4.5 inches and a maximum height of 2.5 inches. The physical size of the graphic file should be kept as small as possible to keep the resulting output file a reasonable size.

Does NaviPlan save changes to the client file automatically?

  • NaviPlan prompts users to save only after creating a new client file. After the client file is created, the AutoSave feature saves the changes each time the user clicks OK in the Plan Data dialog box.
  • When working with Concepts, the client file should be open prior to creating the Concept to ensure that it will be saved automatically with the client file.
  • Reports and graphs are not saved when NaviPlan is closed, as they can be generated easily when the client file is reopened.

Is it possible to use a company logo on client reports and graphs instead of the NaviPlan logo?

Company logos can replace the NaviPlan logo on the title page of the reports and graphs. This feature support Windows Bitmaps (BMP), Windows Metafiles (WMF), and Rich Text Format (RTF).

To insert a company logo:

  • Go to Edit – Preferences – General tab.
  • Click on the browse (…) button at the end of the logo field to open the Select Logo Field window.
  • Locate the graphic file and click OK. The name and location of the file should show in the logo field.

Note: The dimensions of the image in the graphic file should not exceed a maximum width of 4.5” and a maximum height of 2.5”. The physical size of the graphic file should be kept as small as possible to keep the resulting output file a reasonable size.

Does NaviPlan save the changes to the client file automatically and what happens to the work when NaviPlan is closed?

  • NaviPlan prompts users to save only after creating a new client file. After the client file is created, the AutoSave feature saves the changes each time the user clicks OK to the plan.
  • When working with Concepts, open the client’s file before creating the Concept so that it will be saved automatically with the client file.
  • Reports and graphs are not saved when NaviPlan is closed as they can be generated easily when the client file is reopened.

How can a report or graph from one plan be compared to those from another plan?

  1. Generate the report or graph.
  2. Click the Scales icon located in the top right corner of the report or graph to open the Select a Plan dialog box.
  3. Choose the plan with which the report or graph should be compared. The plan must be on the desktop.

Why is the error message “Code – 103, ref. 35054: NaviPlan cannot initialize its security sub-system” message being received after successfully installing the program?

This message can appear for several reasons:

  • The system may need to be restarted. Shut down the computer and restart it.
  • NaviPlan was installed on a shared network drive. Most NaviPlan installations are stand-alone and must be installed on a hard drive local to the workstation. Re-install to a local drive.
  • The user does not have sufficient privileges to install the Crypkey service. If using Windows NT, 2000, XP, or 2003 the software must be installed by someone with Administrator access (or the equivalent). To determine whether the Crypkey service is running, go to the Start menu, select Settings – Control Panel – Administrative Tools, and then double-click the Services icon. The Services dialog box opens. Look for Crypkey License in the scroll box. If the Crypkey service is not running, obtain Administrator access to the computer and reinstall NaviPlan.
  • If the operating system has been upgraded to Windows NT, 2000, XP or 2003 from Windows 95, Windows 98, or Windows ME, reinstall NaviPlan to install the Crypkey service.

After upgrading, why are there two versions of NaviPlan on the computer?

The upgrade was installed in a different location from the existing version of the NaviPlan. Uninstall the upgrade and reinstall NaviPlan in the same location as the existing version.

 
 
   
 

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