Premiums diversity of group pension fund based on the aggregate cost method
Participants can withdraw pension fund insurance before reaching the normal retirement age due to factors such as death, permanent disability, or early retirement. As a result, the participant's premium payment differs from what they would pay in retirement. The aggregate cost method is one of...
| Main Authors: | , , |
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| Format: | Article |
| Language: | English |
| Published: |
Penerbit Universiti Kebangsaan Malaysia
2024
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| Online Access: | http://journalarticle.ukm.my/25187/ http://journalarticle.ukm.my/25187/1/215-229%20Paper.pdf |
| _version_ | 1848816292192059392 |
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| author | Aprijon, Azmin Sham Rambely, Saiful Hafizah Jaaman, |
| author_facet | Aprijon, Azmin Sham Rambely, Saiful Hafizah Jaaman, |
| author_sort | Aprijon, |
| building | UKM Institutional Repository |
| collection | Online Access |
| description | Participants can withdraw pension fund insurance before reaching the normal retirement age due to factors such as death, permanent disability, or early retirement. As a result, the participant's premium payment differs from what they would pay in retirement. The aggregate cost method is one of the methods used to calculate pension contributions. The purpose of this study is to determine the current value of pension benefits and insurance premiums based on uniform assumptions using the aggregate cost method. This calculation method is based on common characteristics that are influenced by the amount of salary and the rate of increase of the insured salary while working. The results showed that male participants received more pension benefits than female participants, who received the same salary, salary increase rate, and entry age. Meanwhile, male participants paid higher premiums than female participants. |
| first_indexed | 2025-11-15T01:03:33Z |
| format | Article |
| id | oai:generic.eprints.org:25187 |
| institution | Universiti Kebangasaan Malaysia |
| institution_category | Local University |
| language | English |
| last_indexed | 2025-11-15T01:03:33Z |
| publishDate | 2024 |
| publisher | Penerbit Universiti Kebangsaan Malaysia |
| recordtype | eprints |
| repository_type | Digital Repository |
| spelling | oai:generic.eprints.org:251872025-05-05T07:29:11Z http://journalarticle.ukm.my/25187/ Premiums diversity of group pension fund based on the aggregate cost method Aprijon, Azmin Sham Rambely, Saiful Hafizah Jaaman, Participants can withdraw pension fund insurance before reaching the normal retirement age due to factors such as death, permanent disability, or early retirement. As a result, the participant's premium payment differs from what they would pay in retirement. The aggregate cost method is one of the methods used to calculate pension contributions. The purpose of this study is to determine the current value of pension benefits and insurance premiums based on uniform assumptions using the aggregate cost method. This calculation method is based on common characteristics that are influenced by the amount of salary and the rate of increase of the insured salary while working. The results showed that male participants received more pension benefits than female participants, who received the same salary, salary increase rate, and entry age. Meanwhile, male participants paid higher premiums than female participants. Penerbit Universiti Kebangsaan Malaysia 2024-11 Article PeerReviewed application/pdf en http://journalarticle.ukm.my/25187/1/215-229%20Paper.pdf Aprijon, and Azmin Sham Rambely, and Saiful Hafizah Jaaman, (2024) Premiums diversity of group pension fund based on the aggregate cost method. Journal of Quality Measurement and Analysis, 20 (3). pp. 215-229. ISSN 2600-8602 https://www.ukm.my/jqma/ |
| spellingShingle | Aprijon, Azmin Sham Rambely, Saiful Hafizah Jaaman, Premiums diversity of group pension fund based on the aggregate cost method |
| title | Premiums diversity of group pension fund based on the aggregate cost method |
| title_full | Premiums diversity of group pension fund based on the aggregate cost method |
| title_fullStr | Premiums diversity of group pension fund based on the aggregate cost method |
| title_full_unstemmed | Premiums diversity of group pension fund based on the aggregate cost method |
| title_short | Premiums diversity of group pension fund based on the aggregate cost method |
| title_sort | premiums diversity of group pension fund based on the aggregate cost method |
| url | http://journalarticle.ukm.my/25187/ http://journalarticle.ukm.my/25187/ http://journalarticle.ukm.my/25187/1/215-229%20Paper.pdf |