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Objectives and Methods of Funding Defined Benefit Pension Schemes
Published online by Cambridge University Press: 03 October 2014
Extract
1.1. As every actuarial student is taught:
“Pay-as-you-go is acceptable for a State pension scheme because the State is, for practical purposes, assured of a continuing existence”.
However:
“The position is quite different in the case of an occupational scheme, since an employer's business may cease to exist”.
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- Copyright © Institute and Faculty of Actuaries 1985
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