Correct the hourly wage factor for the 'AOW' entitlement age

For the sales price based on an hourly wage, you can specify whether Profit should take into account if an employee has reached the age of 'AOW' entitlement by setting how much Profit must correct the Hourly wage factor.

So, the discount factor for the 'AOW' entitlement age is deducted from the applicable hourly wage factor. Profit takes into account the 'AOW' entitlement age as specified by the government. Please refer to the government website for more information.

This is done as follows in the calculation of the sales price for work types:

Employee hourly wage * ((Employee or project hourly wage factor (reduced or normal) - Hourly wage factor discount from work type - Hourly wage factor discount from employee - 65-PLUS DISCOUNT FACTOR) * Hourly wage percentage from the work type + Surcharge from the employee

This is done as follows in the calculation of the sales price of cost types:

Number * ((Employee or project hourly wage factor (reduced or normal) - Hourly wage factor discount from cost type - Hourly wage factor discount from employee - 65-PLUS DISCOUNT FACTOR)

Note: 

The date of birth of the employee should be entered. If not, the ‘65+’ discount cannot be calculated.

For the M003 work type the hourly sales price of this employee is: (€ 15 * 1.55) + 0.50 = € 23.75.

To correct the hourly wage factor for the 'AOW' entitlement age ('65+'):

1. Go to: Projects / Management / Settings / Project.
2. Go to the tab: Rates.
3. In the 65-PLUS DISCOUNT FACTOR field, enter the factor with which you want to correct the applicable hourly wage factor, for instance 0.2. If the applicable hourly wage factor is 1.5, the hourly wage factor for this employee becomes 1.3.
4. Click on: OK. 
5. Click on: Yes.  when asked if you want to reopen the environment now.

If an employee has reached the statutory retirement age or is older than that, Profit will include this discount factor automatically in the sales price calculation.