pension ages

[georgestouma]

i am totally lost , i didnt find a good way to compute the increases, cause sometime , they are going back 0.5 year from current age and going to age 64.5 instead of 65 ,,, what if the salary increase as a*(b+c*age) , please if any one know a method in the problems to know where to start and where to stop ..

[mmajedi]

i need some help with this material too. i don't get why sometimes they move half a year back or move half a year forward. I don't understand questions involving calculating salaries at some point through out the year. can someone explain how these calculations work please.

[psp-fifa-fan]

i'm confused too...

[radoaos]

I didn't see any sort of reason when going through ASM or TIA as to why ASM go back a half year. In fact, that problem made me so mad that I threw the book across the room and went to ADAPT.

After working in pensions for a few years, I see no reason why they would go back half a year unless it is some stupid wording trick the SOA wants to use just to mess with us.

[Eric61483]

The salary earned between age x and x+1 is a constant multiple of s_x.

If we are looking for the salary earned while someone is age 41, then we use s_41.

If we are looking for the salary rate when someone is exactly age 41 and salary is constantly increasing, s_41 is too low. It gives you a constant multiple of how much is earned total over a year, but the earnings rate is higher in the latter months than in the former. So, we use s_40.5 as an approximation. If s_x is linear, then s_40.5 is the exact rate.

If we are looking for the salary rate and it increases once per year, then we have to go back to the last time it increased.

[georgestouma]

Originally Posted by Eric61483

The salary earned between age x and x+1 is a constant multiple of s_x.

If we are looking for the salary earned while someone is age 41, then we use s_41.

If we are looking for the salary rate when someone is exactly age 41 and salary is constantly increasing, s_41 is too low. It gives you a constant multiple of how much is earned total over a year, but the earnings rate is higher in the latter months than in the former. So, we use s_40.5 as an approximation. If s_x is linear, then s_40.5 is the exact rate.

If we are looking for the salary rate and it increases once per year, then we have to go back to the last time it increased.

thanks, i will test those rules,,(PLEASE IF ANYONE FIND ANY CONTRADICTION LET US KNOW) but what if there is months , should we back 0.5 month !! (((i think that the problem is that if the problem dont tell us what we must assume OR LET US ASSUME WHAT WE WANT ! )))

[georgestouma]

can anyone help me in this:
if i am born on 1-apr-1985 , and if the retirement age is 65. when i will retire(go home)? 1-apr-2049 or 1-apr-2050

[Gandalf]

In the US part of the real world, if born on 1-apr-1985, you turn 1 on 1-apr-1986, 2 on 1-apr-1987,...,65 on 1-apr-2050. Therefore if the plan says "everyone retires at 65", you would retire at 1-apr-2050.

[georgestouma]

Originally Posted by Gandalf

In the US part of the real world, if born on 1-apr-1985, you turn 1 on 1-apr-1986, 2 on 1-apr-1987,...,65 on 1-apr-2050. Therefore if the plan says "everyone retires at 65", you would retire at 1-apr-2050.

thanks