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Journal of the Institute of Actuaries, Volume 76 - Issue 3 - December 1950

Contents

Page 1 of 2

Other

Research Article

  • The Valuation of a dividing society by a net premium method

  • E. J. Lancashire
  • Published online by Cambridge University Press:
    18 August 2016, pp. 187-216

  • These notes are a description of a method of valuation which is believed to be new in its application to dividing societies, but they are not intended to deal with the general problems with which actuaries are faced in valuing dividing societies. A method of reorganization of a dividing society which results in a fluctuating dividend is also suggested.

Alfred Watson Memorial Lecture

Research Article

  • The taxation of annuity funds

  • G. V. Bayley
  • Published online by Cambridge University Press:
    18 August 2016, pp. 237-252

  • With these words Sir George Maddex, in his Presidential Address, directed our attention to the present system of taxation of annuity funds. M. E. Ogborn, on 27 October 1947, touched on the subject of uneven incidence of tax upon differing funds, and some uneasiness about the consequences was manifest in the discussion on that paper.

    ‘Income tax is another subject on which it is difficult for me to speak freely, but I cannot refrain from noting that the general taxation position, as it now affects life assurance and pensions business, has given rise to serious anomalies: ...one has only to consider... that the terms quoted by offices for the purchase of life annuities vary to a quite remarkable extent, depending on the distribution of the company's business between various funds, as it exists at the moment, and the consequential incidence of tax;...’

Other

Reviews

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