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On the Construction of Salary Scales for Use in the Valuation of Pension Funds, and the Valuation of Prospective Pensions Based on Accumulated Contributions

Published online by Cambridge University Press:  07 November 2014

James John M'Lauchlan
James John M'Lauchlan
Affiliation:
Faculty of Actuaries
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Extract

When it is desired, in the case of a Pension Fund granting pensions based on salary, to calculate the value of the prospective pensions, it is necessary to frame a scale of average salaries at successive ages, so as to give the means of estimating what salaries the present contributing members of the Fund will on the average be receiving up to the time of retirement. The scale is also necessary for the purpose of calculating the values of future contributions and returns of contributions.

Type
Research Article
Information
Transactions of the Faculty of Actuaries , Volume 7 , 1915 , pp. 215 - 258
Copyright
Copyright © Institute and Faculty of Actuaries 1915

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References

page 252 note 1 We deeply regret to have to record Mr. Manly's death, which took place on 29th December. The letter above referred to must have been one of the very latest of his contributions to actuarial literature.—[Ed. T.F.A.]