F71PD - Pensions B

The aims of this course are:

To provide a good understanding of the risks and uncertainties facing the parties involved in pension provision
To provide a thorough understanding of actuarial models used in the management of pension schemes
To provide an understanding of risk management in pension schemes, including the use of reinsurance

To provide an understanding of how to monitor the experience of pension schemes

1. Valuations (1.1 For occupational schemes and governments: regular and discontinuance.)

2. DC schemes (2.1 Actuarial involvement, member benefits, risks)

3. Investment (3.1 Types of investments, risks, returns)

4. Reinsurance (4.1 Reasons, methods of reducing risks.)

5. Analysis of experience (5.1 Surpluses and deficits, reasons, applications.)

By the end of the course, students should be able to do the following:

Appraise how to determine values for assets, future benefits and future contributions when carrying out a valuation
explore the use of actuarial models in decision making purposes within state pensions.
apply actuarial methods and techniques to manage finances within funding pension plans.
examine the pension provision in the case of scheme discontinuance.
analyse the asset-liability management and investment strategies for pension plans.
evaluate the use of re-insurance in pension management.
investigate the actual experience of a pension scheme in terms of risk management.
communicate the challenges and potential solutions arising from particular issues within the pension sector.

Further details

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SCQF Level: 11

Credits: 15