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Published online by Cambridge University Press: 03 October 2014
In this Paper various methods of maintaining records and performing the annual costing and valuation of Group Life Assurance and Pension Schemes are discussed with particular reference to the “single premium” type of scheme.
In Part I a simple form of single premium scheme is defined and the problem to be solved is set out. Possible solutions are discussed involving handwritten cards, punched cards and electronic computers.
In Part II some of the added complications which arise in practice are introduced and a proposed system involving use of punched cards and a small-scale electronic computer is given in some detail.