Rate table functionality allows for the following:
- Rates can vary over time.
- Rates are stored in table structures.
- It is possible to maintain rates independent from either rules or code.
- Rates are inherently effective date based. Rates are continually raised and lowered in line with budgetary changes. Each set of rates should be effective until a later set of effective dated rates is entered.
- Rate tables can be one or two dimensional with a type, minimum and maximum values associated with each entry (effectively resulting in three dimensional tables).
- Users can maintain rate tables through the application.
- Business processes access the rate table via code.
Examples of rate tables include:
- Age thresholds - for example under 65, over 18.
- Monetary limits - for example earnings must be at least $4,000, capital must be less than $10,000.
- Limits on the numbers of hours worked per week.
- Tax rates to be applied across a number of benefits.