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Title: Empirical Study on Impact of Demographic and Economic Changes on Pension Cost
Authors: Shaira, Yusof,
Rose Irnawaty, Ibrahim,
Keywords: mortality rates
interest rates
pension cost
Accrued Benefit Cost Method
Projected Benefit Cost Method
Issue Date: 1-Jan-2014
Publisher: Amer Inst Physics
Abstract: A continuation of the same financial standard of living after retirement as before is very importance to retired person. The pension provider has a responsibility to ensure their employees receive the sufficient benefit after retirement and regularly monitor the factors that cause insufficient funds to pay benefit to retirees. Insufficient funds may be due to increased in pension cost. Some of the factors that increase the cost of pensions are changes in mortality rates and interest rates. This study will used these two factors to determine their sensitivity to pension cost. Two methods which are Accrued Benefit Cost Method and Projected Benefit Cost Method will be used to estimate pension cost. Interest rates has a inversely related to pension cost while mortality rates has a directly related to pension cost.
ISBN: 9780-7354-1236-1
ISSN: 0094-243X
Appears in Collections:Proceedings Of The 3rd International Conference On Mathematical Sciences

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