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Long-Term Rates of Interest in the Valuation of a Pension Fund

Published online by Cambridge University Press:  11 August 2014

C. D. Daykin
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Extract

1. It seems to be a common misconception outside the actuarial profession that those within that illustrious body are mysteriously able to peer into their crystal balls and come up with prophetic answers about the future progress of pension funds, insurance companies and other allied matters. The appearance of an actuarial report with its air of finality and disclosure of a definite surplus, deficiency, bonus declaration or whatever it may be, only endorses the impression that the actuary is reporting on the unique and unquestionable answer to the problem in hand.

Type
Research Article
Information
Journal of the Staple Inn Actuarial Society , Volume 21 , Issue 3 , October 1976 , pp. 286 - 340
Copyright
Copyright © Institute of Actuaries Students' Society 1976

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References

REFERENCES

(1) ‘The Attack on Inflation.’ Cmnd 6151. July 1975.Google Scholar
(2) ‘The British Economy Key Statistics 1900–1970.’ Published by the London and Cambridge Economic Service.Google Scholar
(3) The Economist. 13 July 1974.Google Scholar
(4) Short, E. and Brumwell, J. C. H. (1974) The Composition of the F.T. Actuaries Share Indices.’ J.S.S. 21, 1.Google Scholar
(5) Hall, M. G. and Livesey, A. (1975) Pension Fund Indicators. Published by Phillips and Drew.Google Scholar
(6) Bayley, G. V. (1974) ‘Address by the President.’ J.I.A. 102, 1.Google Scholar