Retirement Benefits Technical Workshop >> Syllabus
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Session 1 The Actuarial Profession
- What's an actuary?
- Education
- Qualification for Fellowship
- Actuarial Associations
  - Fields of practice
- Professionalism

Session 2 Financial Mathematics
- Time Value of Money
  - Discounted Value
  - Accumulated Value
- Annuities
- Annuity Certain
- Life Annuity
- Joint Annuity

Session 3 Retirement Benefits
- What are Retirement Benefits and why do they exist?
- Retirement Income - "Three-Pillar System" / "Five-Pillar System"
- Sponsors of Retirement Schemes
- Types of Retirement Schemes
- Objectives, Pros, and Cons

Session 4 Actuarial Valuation - DATA
- Data required for an Actuarial Valuation
- Purpose of gathering the Data
- Auditing and treatment of the Data
- Data Problems and Issues
- Where does the Solution Lie?

Session 5 Actuarial Valuation - Assumptions
- Purposes of Assumptions
- Economic Assumptions
- Decremental Assumptions
- Demographic Assumptions
- Guidelines for determining Assumptions

Session 6 Actuarial Valuation - Report
- Purposes
- Timing of Actuarial Valuations
- Assets of the Pension Fund
- Funded Position
  - Going concern basis
  - Solvency basis
- Contribution Requirements
- Experience Analysis ( Gains and Losses )
- Description of Valuation bases
- Summary of main Pension Scheme's Provisions
- Summary and Reconciliation of Membership Data

Session 7 Actuarial Valuation Report - How to read and implement it
- Funded Position
  - Going concern basis
  - Solvency basis
  - What does it mean?
- Contribution Requirements
  - How does it change in time?
  - How should it translate in real life?
- Experience Analysis
- Other elements