The following remarks do not purport to contain any original matter but are merely an attempt to outline the routine followed in the valuation of a pension fund and to indicate certain problems which must be dealt with by the Actuary undertaking the valuation.

The method of valuation is in the nature of an exercise in the use of the salary scale to give actual increases and not rates of increase.

For the purposes of illustration a fund providing the following benefits is taken as an example.