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Fix bug in private pension income uprating (#1199)
* Versioning * Fix issue
1 parent e2a8a97 commit 91f409f

6 files changed

Lines changed: 11 additions & 5 deletions

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changelog_entry.yaml

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@@ -0,0 +1,4 @@
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- bump: patch
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changes:
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fixed:
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- Bug in private pension income uprating.

policyengine_uk/data/uprating_growth_factors.csv

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@@ -58,7 +58,7 @@ personal_pension_contributions,gov.obr.per_capita.employment_income,0,0.072,0.07
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petrol_spending,gov.obr.consumer_price_index,0,0.039,0.101,0.057,0.023,0.032,0.02,0.02,0.02,0.02
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pip_dl_reported,gov.obr.consumer_price_index,0,0.039,0.101,0.057,0.023,0.032,0.02,0.02,0.02,0.02
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pip_m_reported,gov.obr.consumer_price_index,0,0.039,0.101,0.057,0.023,0.032,0.02,0.02,0.02,0.02
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private_pension_income,gov.obr.private_pension_index,0,0.05,0.05,0.033,0.041,0.031,0.029,0.029,0.028,0.0
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private_pension_income,gov.obr.per_capita.non_labour_income,0,0.068,0.134,0.052,0.069,0.057,0.049,0.038,0.029,0.03
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private_transfer_income,gov.obr.per_capita.gdp,0,0.125,0.092,0.05,0.038,0.028,0.028,0.031,0.033,0.033
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property_income,gov.obr.per_capita.gdp,0,0.125,0.092,0.05,0.038,0.028,0.028,0.031,0.033,0.033
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recreation_consumption,gov.obr.consumer_price_index,0,0.039,0.101,0.057,0.023,0.032,0.02,0.02,0.02,0.02

policyengine_uk/parameters/gov/contrib/create_private_pension_uprating.py

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@@ -3,7 +3,7 @@
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Parameter,
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)
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YEARS = list(range(2009, 2035))
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YEARS = list(range(2010, 2035))
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def add_private_pension_uprating_factor(
@@ -13,8 +13,8 @@ def add_private_pension_uprating_factor(
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rpi = parameters.gov.obr.rpi
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last_value = rpi(2008)
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for year in YEARS:
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value = rpi(year)
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rel_change = value / rpi(year - 1)
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value = rpi(year - 1)
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rel_change = value / rpi(year - 2)
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rel_change = min(rel_change, 1.05)
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new_index = last_value * rel_change
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last_value = new_index

policyengine_uk/variables/gov/dfe/free_school_fruit_veg.py

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@@ -7,3 +7,4 @@ class free_school_fruit_veg(Variable):
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definition_period = YEAR
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value_type = float
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unit = GBP
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uprating = "gov.obr.consumer_price_index"

policyengine_uk/variables/gov/dfe/free_school_meals.py

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@@ -7,3 +7,4 @@ class free_school_meals(Variable):
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definition_period = YEAR
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value_type = float
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unit = GBP
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uprating = "gov.obr.consumer_price_index"

policyengine_uk/variables/input/private_pension_income.py

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@@ -10,4 +10,4 @@ class private_pension_income(Variable):
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unit = GBP
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reference = "Income Tax (Earnings and Pensions) Act 2003 s. 1(1)(b)"
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quantity_type = FLOW
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uprating = "gov.obr.private_pension_index"
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uprating = "gov.obr.per_capita.non_labour_income"

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