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On Staff Pension Funds: The Progress of the Accumulation of the Funds; The Identity of a Valuation with The Future Progress of a Fund; The Manner of Dealing with Funds Which are Insolvent; and Sundry Observations

Published online by Cambridge University Press:  18 August 2016

Henry William Manly
Henry William Manly
Affiliation:
Institute of Actuaries
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Extract

1. Mr. James John M’Lauchlan has done excellent service, in his Presidential Address to the Faculty of Actuaries on the 30th of November 1908, by drawing attention to the natural growth of a normal Pension Fund, and the necessity of accumulating large invested funds during the first 40 or 50 years of its existence, in order to provide for the heavy liabilities which will then be maturing for payment. He has done this by a few simple and easily understood illustrations involving a very considerable amount of accurate calculations which do not appear in the work.

Type
Research Article
Information
Journal of the Institute of Actuaries , Volume 45 , Issue 2 , April 1911 , pp. 149 - 229
Copyright
Copyright © Institute and Faculty of Actuaries 1911

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References

page 149 note * “The Fundamental Principles of Pension Funds”, by M'Lauchlan, James J., Transactions of the Faculty of Actuaries, No. 41. C. & E. Layton, Farringdon Street, London.Google Scholar

page 207 note * This is the value of the accumulations for the first 30 years + the present value of the future accumulations, and therefore to obtain the present value of the future accumulations we must deduct the accumulations for the first 30 years. See Appendix.

page 222 note * [These Tables are reprinted, with explanatory notes, on pp. 231 to 240 following.—ED. J.I.A.]