Search results for "amount"
showing 10 items of 79 documents
CRITERIA FOR SUSTAINABILITY OF OLD-AGE PENSION SYSTEM BASED ON THE NDC PRINCIPLES
2015
The topicality of the research subject. The foundations of the old-age pension scheme based on notional accounts, also referred to as the “notional defined contribution” or “non-financial defined contribution” (NDC) old-age pension scheme, were laid in Sweden in 1994, when the prevailing view was that a sustainable defined-contribution PAYG old-age pension scheme is impossible. Since then, the NDC system modifications have been implemented in several countries; since 2000, this scheme is also part of the Latvian pension system and works significantly better than the other part of the pension system - the funded pension scheme. However, the sustainability of NDC scheme is still being questio…
A "Swedish" actuarial balance sheet for a notional defined contribution pension scheme with disability and retirement benefits
2016
This paper proposes a “Swedish” type actuarial balance sheet for a notional defined contribution scheme embedding disability insurance within the retirement pension system. The underlying framework supporting the actuarial balance relies on a multistate overlapping generations model that includes the so-called survivor dividend and a minimum pension benefit for both contingencies. The proposed ABS splits the system into two parts: the actuarial part (pure NDC) and the redistributive part, which includes the assets and liabilities originating from non-contributory rights. The paper also contains a numerical example that sheds light on the real applicability of our proposal and confirms that …
Notional defined contribution pension schemes: Why does only Sweden distribute the survivor dividend?
2015
The aim of this paper is to analyse the role of the survivor dividend in notional defined contribution (NDC) pension schemes. At present, this feature can only be found in the Swedish defined contribution scheme. We develop a model that endorses the idea that the survivor dividend has a strong basis for enabling the NDC scheme to achieve financial equilibrium and that not including the dividend is a non-transparent way of compensating for increases in longevity and/or legacy costs from old pension systems. We also find that the average effect of the dividend remains unchanged for any constant annual rate of population growth, that contribu-tors who reach retirement age always get a higher r…
Should a Survivorship Dividend Be Included in Notional Defined Contribution Accounts (NDCs)?
2013
The aim of this paper is to analyse the role of the survivor dividend in notional defined contribution (NDC) pension schemes. With this aim in mind, we first extend the model developed by Boado-Penas & Vidal-Melia (2014) by allowing for changes in the growth of the active population. We then compute the effect of the survivor dividend on the relationship between the individual’s internal rate of return for contributors who reach retirement age and the system’s internal rate of return. Finally we develop the main entries to include on the system's actuarial balance sheet. The model endorses the idea that the survivor dividend has a strong basis for enabling the NDC scheme to achieve financia…
Determination of trace amounts of β tegafur in commercial α tegafur by powder X-ray diffractometric analysis.
2011
Abstract Objectives The main objective of this work was to develop a suitable analytical technique for determining trace amounts of the thermodynamically stable solid form in bulk samples of metastable form, to a sensitivity of 0.005%–1.0%. Tegafur (5-fluoro-1-(tetrahydro-2-furyl)-uracil) α and β crystalline forms were used as a model for this problem. Methods The trace content of the thermodynamically stable β polymorphic form in tegafur samples was increased by promoting phase transition from the bulk of thermodynamically metastable α form to β form, and achieving sufficient β form content for a quantitative powder X-ray diffractometry (PXRD) analysis. The phase transition was stimulated …
A selective microscale x-ray fluorescence analyzing method for determination of trace elements
1973
Abstract A new selective X-ray fluorescence analyzing method for trace element determination has been developed. In this method each trace element is measured independently. The excitation source is an X-ray tube that has a changeable anode and a variable high voltage. The exciting radiation is shaped with critical absorbers. The sample is viewed at backward angles through an absorber to reduce backscattered radiation. The estimated accuracy of this method is of the order of 10 per cent in thesub-ppm range of trace element concentration in organic samples. Measurement times are of the order of a few minutes.
(Table 2) Age determination of sediment core NIOP-C2_929
2007
In this study we present a sea surface temperature (SST) record from the western Arabian Sea for the last 20,000 years. We produced centennial-scale d18O and Mg/Ca SST time series of core NIOP929 with focus on the glacial-interglacial transition. The western Arabian Sea is influenced by the seasonal NE and SW monsoon wind systems. Lowest SSTs occur during the SW monsoon season because of upwelling of cold water, and highest SSTs can be found in the low-productivity intermonsoon season. The Mg/Ca-based temperature record reflects the integrated SST of the SW and NE monsoon seasons. The results show a glacial-interglacial SST difference of ~2°C, which is corroborated by findings from other Ar…
Does the Pension System’s Income Statement Really Matter? A Proposal for An NDC Scheme with Disability and Minimum Pension Benefits
2019
This paper develops a full accounting model for monitoring the solvency of a notional defined contribution (NDC) pension scheme with disability and minimum pension benefits. Using the annual report of the Swedish pension system as a benchmark (TSPS, 2019), we extend the “Swedish” actuarial balance developed by Perez-Salamero et al. (2017) by adding an income statement which fully explains the reasons behind the changes in the system’s solvency by type of benefit. In line with the reference model, assets and liabilities are measured at present value at each reporting date, and changes in present value are reported in each period as income or expenses and are included on the income statement.…
A “Swedish” actuarial balance for a notional defined contribution pension scheme with disability and minimum pension benefits
2017
This article proposes a “Swedish” type actuarial balance sheet (ABS) for a notional defined contribution (NDC) scheme with disability and minimum pension benefits. The proposed ABS splits the pension system in two parts: the pure NDC part and the redistributive part, which includes the assets and liabilities originating from non-contributory rights. The article contains a numerical example that sheds light on the real applicability of our proposal. The model has practical implications that could be of interest to policy-makers, given that it integrates actuarial and social aspects of public pensions and discloses the real cost of redistribution through minimum pensions.
The INGV's new OBS/H: Analysis of the signals recorded at the Marsili submarine volcano
2009
Abstract The ocean bottom seismometer with hydrophone deployed on the flat top of the Marsili submarine volcano (790 m deep) by the Gibilmanna OBS Lab (CNT–INGV) from 12th to 21st July, 2006, recorded more than 1000 transient seismic signals. Nineteen of these signals were associated with tectonic earthquakes: 1 teleseismic, 8 regional (located by INGV) and 10 small local seismic events (non located earthquakes). The regional events were used to determine sensor orientation. By comparing the signals recorded with typical volcanic seismic activity, we were able to group all the other signals into three categories: 817 volcano–tectonic type B (VT-B) events, 159 occurrences of high frequency t…