Pension actuarial

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The pension insurance mathematics is a branch of the persons insurance mathematics and deals with the mathematical foundations of occupational pension schemes , with some overlap for life insurance mathematics exist.

background

Depending on how the company pension scheme is implemented , the actuary of pension actuarial mathematics has different tasks:

  • In the context of the direct pension commitment (also called direct commitment ) or support fund commitment, the main task of the actuary is the annually recurring calculation of the pension provisions or the notes for the annual financial statements. In addition, actuarial mathematics is required, for example, to convert pension contributions into pension benefits or to calculate future pension benefits under certain premises.
  • In the case of the pension fund and the pension fund , the calculation of premiums and the calculation of the reserve capital requires actuarial mathematics to be applied. The responsible actuary is responsible, using actuarial mathematics, for ensuring that the statutory provisions on the actuarial reserve are complied with. In addition, regular risk assessments take place here (see also Solvency II ).
  • Since direct insurance is a classic life insurance policy , the specifics of pension actuarial mathematics do not play a role here, rather the methods of classic life actuarial mathematics are used here.

Basis of calculation in pension insurance

The calculation bases used differ significantly from those used in life actuarial mathematics. In addition to the probabilities of death , pension actuarial mathematics also play a role

  • the probability of disability,
  • the likelihood of being married at death
  • the average age of the surviving spouse

a role. The probabilities of death themselves are differentiated according to

  • Active,
  • Invalids,
  • Members of the entire portfolio,
  • Retirees.

As is customary in personal actuarial mathematics, all probabilities are differentiated according to the risk characteristics of sex and age, with unisex elimination orders being used as a rule within the European Union since 2012 . In Germany, the tax-approved mortality tables from Klaus Heubeck (currently in the 2018 version) are used in the area of ​​balance sheet pension provisions, in Austria the tables from Pagler-Pagler. In the case of pension insurance contracts with a specific provider such as a life insurance company, a pension fund or a pension fund within the framework of tax-subsidized company pension schemes, the elimination regulations with safety margins of the respective national actuarial associations or self-determined mortality tables are generally used.

Individual evidence

  1. ↑ German Actuarial Association : "Technical principle: Biometric calculation bases for pension funds and pension funds"

literature