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Software Requirements Specification (SRS) for Pension Calculator

Introduction

Purpose:

The purpose of this document is to define the requirements for the development of a Pension Calculator. This web-based application aims to aid users in planning for retirement by estimating pension income based on contributions and other relevant parameters.

Scope:

The Pension Calculator will provide users with an interface to input details such as current age, retirement age, monthly contributions, and other factors. The application will calculate and display an estimate of pension income based on the provided information.

System Overview

System Description:

The system will be a client-server application. Users will access the Pension Calculator through a web browser. The server will handle the logic for pension income calculations.

System Architecture:

The application will follow a three-tier architecture: presentation layer (client-side browser), application layer (server-side processing), and data layer (storage and retrieval of data).

Functional Requirements

Use Cases:

Estimate Pension Income:

  • Users can input details such as current age, retirement age, monthly contributions, expected rate of return, and other relevant parameters.
  • The system will calculate and display an estimate of pension income based on the provided information.
  • Users can visualize the impact of changes in contributions or retirement age on pension income.

Functional Requirements:

Input:

The system shall allow users to enter the following details:

  • Current Age
  • Retirement Age
  • Monthly Contributions (in INR)
  • Expected Rate of Return (in percentage)
  • Other relevant parameters (if applicable)

Calculation:

  • The system shall calculate the estimated pension income based on the provided details and expected rate of return.

Output:

  • The system shall display the calculated pension income estimate to the user.

External Interface Requirements

User Interfaces:

  • The user interface shall consist of input fields for current age, retirement age, monthly contributions, expected rate of return, and other relevant parameters, along with a “Calculate” button.
  • The calculated pension income estimate shall be displayed prominently.

Hardware Interfaces:

  • The system should be compatible with standard computing hardware.

Software Interfaces:

  • The application will be developed using HTML, CSS, and JavaScript for the frontend.
  • The backend can be implemented using a server-side framework (e.g., Node.js, Django) with a database for data storage.

Communication Interfaces:

  • The application will communicate with the server for pension income calculations.

Performance Requirements

Response Time:

The system should provide a response time of under 5 seconds for a typical user input.

Throughput:

The application should handle at least 50 simultaneous users.

System Constraints

Regulatory Requirements:

The application should comply with relevant financial regulations.

Hardware Limitations:

The system should be compatible with devices supporting standard web browsers.

Security Requirements

Authentication:

User authentication may be implemented to ensure data security.

Data Protection:

User data, if stored, should be securely protected.

Quality Attributes

Reliability:

The application should provide accurate pension income estimates based on the entered details.

Maintainability:

The code should be well-documented for ease of maintenance.

Usability:

The user interface should be intuitive, requiring minimal guidance.

Testing Requirements

Test Cases:

Test cases should cover various scenarios with different current ages, retirement ages, monthly contributions, expected rates of return, and other parameters to ensure accurate pension income estimates.

Test Case 1:

  • Inputs: Current Age = 30, Retirement Age = 65, Monthly Contributions = 10,000 INR, Expected Rate of Return = 8%.
  • Expected Output: Estimated Pension Income ≈ 1,20,00,000 INR

Test Case 2:

  • Inputs: Current Age = 40, Retirement Age = 70, Monthly Contributions = 15,000 INR, Expected Rate of Return = 6%.
  • Expected Output: Estimated Pension Income ≈ 1,50,00,000 INR

Test Case 3:

  • Inputs: Current Age = 35, Retirement Age = 60, Monthly Contributions = 12,000 INR, Expected Rate of Return = 7%.
  • Expected Output: Estimated Pension Income ≈ 1,00,00,000 INR

Acceptance Criteria:

The application is considered successful if it produces correct pension income estimates based on the provided retirement planning details.

Project Timeline

Milestones:

Design, Development, Testing, Deployment.

Development Phases:

Frontend development, Backend development, Testing, Deployment.

Glossary

None

Database Structure

Tables:

Pension_Calculator_Records:

  • RecordID (Primary Key, Auto-increment)
  • CurrentAge (Integer)
  • RetirementAge (Integer)
  • MonthlyContributions (Decimal)
  • ExpectedRateOfReturn (Decimal)
  • OtherParameters (Text)
  • EstimatedPensionIncome (Decimal)
  • CalculationDate (DateTime)

Conclusion

This SRS document outlines the requirements for the Pension Calculator. It serves as a guide for the development team and ensures that the application meets the specified criteria. Review and approval by relevant stakeholders are essential before proceeding with the development phase.

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