Concept

Pension Plus enables "Pension as a Service" for those looking for a convenient way to make a monthly deposit, without having to worry about the technical challenges. Reach out to [email protected] or NLSiLi on Telegram for more information.

Smart accounts dedicated for Carpe Diem Pension

This is a technical paper. It is advised to have decent knowledge on the following topics:

• Carpe Diem Pension

• Blockchain technology

• Ethereum smart contracts written in Solidity

• OpenZeppelin’s smart contract libraries

Pension Plus+ consists of ownable smart contracts that let users interact with Carpe Diem Pension in new and more flexible ways. Users deploy their own smart contract, hereinafter called smart account, through a Factory smart contract. It adds another layer on top of the classic Carpe Diem Pension smart contracts on the PulseChain network.

A feature of interacting with Carpe Diem Pension through a smart account is that the owner of this account can be changed.

Everyone can deposit CDP, enter the auction with PLS, and collect auction shares for any Pension Plus+ smart account. In all cases, the owner of the smart account is the beneficiary.

One could consider this extra layer a disadvantage regarding security, as it adds extra complexity. More code, more smart contracts, more things that can potentially break. It is up to the end user to consider their personal situation when choosing for a classic account or for Pension Plus+.

Example 1: pay in Pension Shares

With Pension Plus+ it is possible to pay or gift others Pension Shares. A great gift that keeps on paying. Furthermore, one can insert their own referral address when gifting Pension Shares (depositing CDP on someone else’s account) and get 10% themselves as well.

If needing to pay someone that accepts to get paid in Pension Shares, it’s also a great way to get a 10% “cashback” in shares that generate a passive income.

As the beneficiary, why would it be beneficial to accept Pension Shares as a payment?

There could be fiscal benefits for you when getting paid in Pension Shares directly. Because of this, you could provide a discount for your customers as a stimulant. Note that different jurisdictions might have different rules, and that several elements can be interpreted in multiple ways. It is highly recommended to consult with a tax lawyer. Below are several questions along with some facts, to make their work easier.

Are Pension Shares worth anything / do they have monetary value?

• Pension Shares are numbers in a decentralized database used to calculate one’s payment.

• When someone permanently removes CDP from circulation using the deposit function on one side, Pension Shares are created and distributed accordingly on the other side. Please note that there is no financial connection between the two sides.

• It is impossible to tie a pension share to an exact number of CDP or any other asset. For every CDP deposited, a total of 1.3 Pension Shares are created, however, the depositor only receives 1 share. Furthermore, when participating in the Auction program, users can buy Pension Shares with a discount (or premium).

• It is not possible to convert Pension Shares back to CDP, nor any other asset.

• Pension Shares are tied to someone’s address and cannot be removed from it (unless being inactive for over 3 years, but someone else can also trigger an address to be active).

• With Pension Plus+, an address can receive Pension Shares unwilfully.

The following questions are interesting if your conclusion is that Pension Shares contain no monetary value.

What is the flow of CDP when people gift pension shares / is CDP ever in the account?

• Blockchains consists of blocks. Each block contains transaction data. The balance of all assets on the blockchain is recorded at the end of every block.

• When gifting Pension Shares, the following actions are combined in one single transaction/block:

  • Transfer CDP from the sender to the Pension Plus+ account,

  • Allow the Pension program to burn CDP from the Pension Plus+ account,

  • Burn CDP from the Pension Plus+ account, to receive Pension Shares.

• The account’s CDP balance will never change when measuring per block. The CDP is gone before it was there.

• It is not possible to interfere with transactions initiated by others.

The same is true for PLS being deposited into the Auction by others. It is gone before it was there.

If you conclude that you receive no monetary value, it might prevent you from paying double Income Tax. You can argue that you will in fact pay income tax, but in a delayed manner. When claiming the CDP rewards when you retire, you might be bound to pay income tax on it.

What happens with the CDP payout when I compound (re-deposit) it?

• CDP payout is stored in the pension program.

• When claiming CDP payout, you instruct the program to transfer CDP to you.

• When compounding CDP payout, you instruct the program to burn CDP directly from its storage.

Example 2: suitable employee Pension management

While managing your own pension through the classic Carpe Diem Pension program is relatively easy, it becomes complicated when needing to manage multiple accounts. Pension Plus+ offers an improved way to manage multiple accounts.

One account can create an infinite number of Pension Plus+ accounts. In a company structure, one person can manage the pensions of all employees from a single account. Every employee gets their own Pension Plus+ account, which is governed by the company at first.

When the employee leaves the company, the Pension Plus+ account can be fully transferred to them by transferring the ownership of the specific account.

With Pension Plus+ it becomes easier to outsource the management of your pension.

Example 3: migration to another wallet

Some users want an option to transfer their pension to another wallet at a later stage, which isn’t possible with the classic Carpe Diem Pension system. Here are several reasons why people would want such a feature:

• Not having access to a very secure wallet at first, transferring to a safer environment later.

• Switching to new addresses occasionally for improved security and privacy.

• Moving from a multipurpose address to a dedicated address.

• Building a pension for someone else and transferring it to them, for example your partner or child(ren).