Actuarial mathematics of social security pensions:
Saved in:
| Main Author: | |
|---|---|
| Format: | Book |
| Language: | English |
| Published: |
Geneva
ILO
1999
|
| Edition: | 1. publ. |
| Series: | Quantitative methods in social protection series
|
| Subjects: | |
| Online Access: | Inhaltsverzeichnis |
| Item Description: | Literaturverz. S. 126 - 128 |
| Physical Description: | XIV, 130 S. graph. Darst. |
| ISBN: | 922110866X |
Staff View
MARC
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| 245 | 1 | 0 | |a Actuarial mathematics of social security pensions |c Subramaniam Iyer |
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| 264 | 1 | |a Geneva |b ILO |c 1999 | |
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| 490 | 0 | |a Quantitative methods in social protection series | |
| 500 | |a Literaturverz. S. 126 - 128 | ||
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Record in the Search Index
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|---|---|
| adam_text | CONTENTS
Foreword v
Preface vii
Introduction 1
Part I Theory 7
1 The financing of social security pensions 9
1.1 Introduction 9
1.2 The basic demographic and economic parameters 10
1.3 The active population and retired population functions 11
1.4 The expenditure and insured salary functions 13
1.5 The theoretical basis of financial systems 15
1.6 The pay-as-you-go financial system 16
1.7 The general average premium system and its derivatives 17
1.8 The terminal funding system 19
1.9 Systems based on successive control periods 20
1.10 The scaled premium system 21
1.11 Assessment and comparison of the financial systems 23
1.12 Illustration of the financial systems 24
1.13 The concept of full funding in relation to the GAP system 25
2 The funding of occupational pensions 27
2.1 Introduction 27
2.2 Individual cost methods 29
2.3 Accrued benefit cost methods 30
2.4 Entry age cost methods 31
2.5 The initial accrued liability and its discharge 32
2.6 Comparison of individual cost methods with social security financing
methods 33
2.7 Assessment of the individual actuarial cost methods 34
x!
Contents
2.8 Aggregate cost methods 35
2.9 Conclusion 36
3 Advanced topics in social security pension financing 37
3.1 Introduction 37
3.2 The projection and present value approaches 37
3.3 Extension of the theory to invalidity and survivors pensions 38
3.4 Multiple entry and retirement ages 39
3.5 Expressions for new entrant functions 39
3.6 Premiums in the financially mature situation 42
3.7 Analysis of the general average premium 44
3.8 Reserves in the financially mature situation 46
3.9 The effect of mortality and invalidity decrements 46
3.10 The effect of the density factor 47
3.11 The implication of the funding level for pension indexation 48
3.12 Further generalization of the theory 50
3.13 Concluding remarks 52
4 Defined contribution schemes 53
4.1 Introduction 53
4.2 Actuarial structure 53
4.3 Analysis of the accumulated balance 54
4.4 Analysis of the retirement annuity 56
4.5 The effect of the density factor 57
4.6 The importance of the interest element 57
4.7 The contribution rate for a specified replacement rate 58
4.8 Transformation from defined contribution to defined benefit or vice versa 58
i
Part II Techniques 61 ;
5 The projection technique for actuarial valuations 63
5.1 Introduction 63 ]
5.2 Actuarial valuations of social security pension schemes 63
5.3 Alternative projection methodologies 64
5.4 Demographic projections: General description 65
5.5 Data for demographic projections 66
5.6 The actuarial basis for demographic projections 67
5.7 Expressions for transition probabilities 68
5.8 The demographic projection formulae 70
5.9 Financial projections: General description 73
5.10 Data for financial projections 74
5.11 The actuarial basis for financial projections 74
5.12 The financial projection formulae 75
5.13 An alternative projection method under simplified assumptions 78
5.14 Manipulation of financial projections for valuation purposes 80
xii
Contents
6 The present value technique 83
6.1 Introduction 83
6.2 Special commutation functions 84
6.3 Expressions for probable present values of insured salaries and benefits 86
6.4 Further development of the expressions for a simple pension formula 87
6.5 Calculation of average premiums 88
Appendices 91
1 Basic actuarial mathematics 93
2 Numerical illustrations 100
3 Glossary of principal financial systems and funding methods 114
4 List of symbols 116
5 The variant SCP1 of the scaled premium system 120
6 Application of the lognormal distribution 124
Bibliography 126
Index 129
Appendix 2 tables
1 The data 102
2 The basis 102
3 Projections 103
4a Variant 1: GAP, TFS and AFS systems 103
4b Variant 1: SCP1 and SCP2 systems 104
5a Variant 2: GAP/TFS and AFS systems 104
5b Variant 2: ACC1 and ACC2 systems 105
5c Variant 2: ENT and AGG systems 105
6 Age-related contribution rate and reserve functions (cohort entering
at t = 0) 106
7 Sensitivity of premiums to parametric changes 106
Appendix 2 figures
1 The Lexis diagram 107
2 Benefit expenditure as a percentage of insured salary bill 107
3 Variant 1:PAYG, GAP, TFS and AFS systems-contribution rates 108
4 Variant 2: PAYG, GAP, TFS and AFS systems - contribution rates 108
5 Variant 1: GAP, TFS and AFS systems - reserves as a multiple of
salary bill 109
6 Variant 2: GAP, TFS and AFS systems - reserves as a multiple of
salary bill 109
7 Variant 1: The scaled premium system (compared with PAYG and GAP)
- contribution rates 110
8 Variant 2: The scaled premium system (compared with GAP) -
reserves as a multiple of salary bill 110
xiti
Contents
9 Individual cost methods: Age-related contribution rate function 111
10 Individual cost methods: Age-related reserve function (expressed as a
percentage of terminal reserve) 111
11 Variant 2: Individual cost methods (compared with GAP) -
contribution rates 112
12 Variant 2: Individual cost methods (compared with GAP) -
reserves as a multiple of salary bill 112
13 Variant 2: Aggregate cost method (compared with AFS, ENT and GAP)
- contribution rates 113
14 Variant 2: Aggregate cost method (compared with AFS, ENT and
GAP) - reserves as a multiple of salary bill 113
t
j
i
t
xiv
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| any_adam_object | 1 |
| author | Iyer, Subramaniam |
| author_facet | Iyer, Subramaniam |
| author_role | aut |
| author_sort | Iyer, Subramaniam |
| author_variant | s i si |
| building | Verbundindex |
| bvnumber | BV027791323 |
| ctrlnum | (OCoLC)833600663 (DE-599)BVBBV027791323 |
| dewey-full | 368.4300151 |
| dewey-hundreds | 300 - Social sciences |
| dewey-ones | 368 - Insurance |
| dewey-raw | 368.4300151 |
| dewey-search | 368.4300151 |
| dewey-sort | 3368.4300151 |
| dewey-tens | 360 - Social problems and services; associations |
| discipline | Wirtschaftswissenschaften |
| edition | 1. publ. |
| format | Book |
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| illustrated | Illustrated |
| indexdate | 2024-07-10T00:49:14Z |
| institution | BVB |
| isbn | 922110866X |
| language | English |
| oai_aleph_id | oai:aleph.bib-bvb.de:BVB01-026525798 |
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| physical | XIV, 130 S. graph. Darst. |
| publishDate | 1999 |
| publishDateSearch | 1999 |
| publishDateSort | 1999 |
| publisher | ILO |
| record_format | marc |
| series2 | Quantitative methods in social protection series |
| spelling | Iyer, Subramaniam Verfasser aut Actuarial mathematics of social security pensions Subramaniam Iyer 1. publ. Geneva ILO 1999 XIV, 130 S. graph. Darst. txt rdacontent n rdamedia nc rdacarrier Quantitative methods in social protection series Literaturverz. S. 126 - 128 Rentenversicherung fes Sozialversicherung fes Statistik fes Wirtschaftswissenschaftliche Methodik fes HBZ Datenaustausch application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=026525798&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis |
| spellingShingle | Iyer, Subramaniam Actuarial mathematics of social security pensions Rentenversicherung fes Sozialversicherung fes Statistik fes Wirtschaftswissenschaftliche Methodik fes |
| title | Actuarial mathematics of social security pensions |
| title_auth | Actuarial mathematics of social security pensions |
| title_exact_search | Actuarial mathematics of social security pensions |
| title_full | Actuarial mathematics of social security pensions Subramaniam Iyer |
| title_fullStr | Actuarial mathematics of social security pensions Subramaniam Iyer |
| title_full_unstemmed | Actuarial mathematics of social security pensions Subramaniam Iyer |
| title_short | Actuarial mathematics of social security pensions |
| title_sort | actuarial mathematics of social security pensions |
| topic | Rentenversicherung fes Sozialversicherung fes Statistik fes Wirtschaftswissenschaftliche Methodik fes |
| topic_facet | Rentenversicherung Sozialversicherung Statistik Wirtschaftswissenschaftliche Methodik |
| url | http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=026525798&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA |
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