An integration of age-based salary function and increase ratio method for pension valuation in the Philippine setting

Date of Publication

2008

Document Type

Bachelor's Thesis

Degree Name

Bachelor of Science in Statistics Major in Actuarial Science

Subject Categories

Mathematics

College

College of Science

Department/Unit

Mathematics and Statistics

Thesis Adviser

Regina M. Tresvalles

Defense Panel Chair

Isagani B. Jose

Defense Panel Member

Frumencio F. Co
Shirlee R. Ocampo

Abstract/Summary

The parametric age-based model is a combination of concepts obtained from the traditional Increase Ratio Method proposed by Marples and Salary Function model proposed by Carrier and Shand. After getting the parameter estimates with the help of Statistical Analysis Software (SAS), the derived model was able to compute for future salaries, specifically the salary before retirement. Consequently, pension benefits were determined using the three models, which are Carriere and Shand's model for salary functions. Medina and Moya's salary scale, and the researchers' derived age-based salary scale. Furthermore, salary gains and losses were examined and compared.

Abstract Format

html

Language

English

Format

Print

Accession Number

TU14604

Shelf Location

Archives, The Learning Commons, 12F, Henry Sy Sr. Hall

Physical Description

ix, 151 leaves, illustrations, 29 cm.

Keywords

Pensions--Mathematical models; Retirement income--Planning

Embargo Period

3-25-2021

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