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Pension Schemes and Early Retirement
Published online by Cambridge University Press: 11 August 2014
Extract
An actuary has two major responsibilities in respect of a fully functional pension scheme:
(i) To perform (and report on) periodic actuarial investigations; these have the dual purpose of confirming the security of the members' accumulated benefits and of determining, with the agreement of the employers, an appropriate scheme of funding;
(ii) To provide tables for application to early leaver benefits for the determination of alternative options.
Much has been written on the first of these functions and I expand on this only to a limited extent in §2. This paper addresses itself more to the practical implications of the second of them and, in particular, to the early retirement option.
- Type
- Research Article
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- Copyright
- Copyright © Institute of Actuaries Students' Society 1987
References
REFERENCES
(1) Lee, E. M. (1986). An Introduction to Pension Schemes. Institute of Actuaries & Faculty of Actuaries.Google Scholar
(2) Pensions Standards Joint Committee of the Institute and Faculty of Actuaries, Report of a Working Party on Terminology of Pension Funding Methods (1984).Google Scholar
(3) Joint Office of Inland Revenue Superannuation Funds Office and Occupational Pensions Board. Occupational Pension Schemes: Notes on approval under the Finance Act 1970 (I.R. 12).Google Scholar
(4) Joint Office of Inland Revenue Superannuation Funds Office and Occupational Pensions Board. Memorandum No. 77.Google Scholar
(5) Joint Office of Inland Revenue Superannuation Funds Office and Occupational Pensions Board. Memorandum No. 78.Google Scholar
(6) Joint Office of Inland Revenue Superannuation Funds Office and Occupational Pensions Board. Memorandum No. 80.Google Scholar