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Marina_0122 · 2020年07月05日

问一道题:NO.PZ201812100100000206

* 问题详情,请 查看题干

问题如下:

Based on the case study illustration and the effect of changing the annual compensation rate, the annual unit credit for the average participant would decrease by an amount closest to:

选项:

A.

€4,349.

B.

€4,858.

C.

€5,446

解释:

B is correct.

The final year’s estimated earnings at the end of Year 1 for the average participant would decrease by approximately €35,747.71.

Because there are now 17 years until retirement, there are 16 years until retirement from the end of Year 1. The final year’s estimated earnings, estimated at the end of Year 1, are as follows:

Current year’s salary × [(1 + Annual compensation increase)Years until retirement]

Annual compensation increase of 6%: €100,000 × [(1.06)16] = €254,035.17

Annual compensation increase of 5%: €100,000 × [(1.05)16] = €218,287.46

The estimated annual payment for each of the 20 years (retirement life expectancy) is (Estimated final salary × Benefit formula) × Years of service

Annual compensation increase of 6%: (€254,035.17 × 0.01) × (10 + 17) = €68,589.50

Annual compensation increase of 5%: (€218,287.46 × 0.01) × (10 + 17) = €58,937.61

The value at the end of Year 17 (retirement date) of the estimated future payments is the PV of the estimated annual payment for each of the 20 years at the discount rate of 4%:

Annual compensation increase of 6%: PV of €68,589.50 for 20 years at 4% = €932,153.69

Annual compensation increase of 5%: PV of €58,937.61 for 20 years at 4% = €800,981.35

The annual unit credit = Value at retirement/Years of service:

Annual compensation increase of 6%: €932,153.69/27 = €34,524.21

Annual compensation increase of 5%: €800,981.35/27 = €29,665.98

The annual unit credit for the average participant would decrease by €34,524.21 – €29,665.98 = €4,858.23.

Annual compensation increase of 6%: (€254,035.17 × 0.01) × (10 + 17) = €68,589.50

Annual compensation increase of 5%: (€218,287.46 × 0.01) × (10 + 17) = €58,937.61

这一步可以解释一下吗?不懂

1 个答案

Olive_品职助教 · 2020年07月06日

嗨,爱思考的PZer你好:


你说的这是第二步,计算退休后每年的PMT。这是根据公司规定好的benefit formula计算出来的。

公司会跟员工约定好,退休后每年给的退休金的金额就等于final salary乘以一个比例(这道题是1%),然后再乘以员工总共的service year(这道题是10+17)。


-------------------------------
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NO.PZ201812100100000206问题如下 Based on the case stu illustration anthe effeof changing the annual compensation rate, the annuunit cret for the average participant would crease amount closest to: €4,349. €4,858. €5,446 B is correct. The finyear’s estimateearnings the enof Ye1 for the average participant woulcrease approximately €35,747.71. Because there are now 17 years until retirement, there are 16 years until retirement from the enof Ye1. The finyear’s estimateearnings, estimatethe enof Ye1, are follows: Current year’s salary × [(1 + Annucompensation increase)Years until retirement] Annucompensation increase of 6%: €100,000 × [(1.06)16] = €254,035.17 Annucompensation increase of 5%: €100,000 × [(1.05)16] = €218,287.46 The estimateannupayment for eaof the 20 years (retirement life expectancy) is (Estimatefinsalary × Benefit formul× Years of servi Annucompensation increase of 6%: (€254,035.17 × 0.01) × (10 + 17) = €68,589.50 Annucompensation increase of 5%: (€218,287.46 × 0.01) × (10 + 17) = €58,937.61 The value the enof Ye17 (retirement te) of the estimatefuture payments is the PV of the estimateannupayment for eaof the 20 years the scount rate of 4%: Annucompensation increase of 6%: PV of €68,589.50 for 20 years 4% = €932,153.69 Annucompensation increase of 5%: PV of €58,937.61 for 20 years 4% = €800,981.35 The annuunit cret = Value retirement/Years of service: Annucompensation increase of 6%: €932,153.69/27 = €34,524.21 Annucompensation increase of 5%: €800,981.35/27 = €29,665.98 The annuunit cret for the average participant woulcrease €34,524.21 – €29,665.98 = €4,858.23.考点annuunit cret计算解析步骤一计算finsalary。注意是从current salary往后复利16年。因为题干scount rate下面有一句话, 在每年的服务年限的第一天就实现工资的增长,所以相当于是每年的第一天工资已经涨上去了。求第17年年末的finsalary,这个值就等于第17年年初的值,因为是年初涨工资。现在是0时刻,我们要计算第17年年初的工资金额,也就是第16年年末,所以是16次方。步骤二计算退休后每年的PMT。用benefit formula=finsalary*1%*预计总服务年限根据题目条件可知,预计总服务年限=10+17。其中10年是vesteserviyear,17是预计员工退休前未来还需要服务的年限。10年vesteserviyear,即到现在为止,员工已经有10年的服务满足了可获得养老金的要求,会给公司带来员工退休后养老金的给付义务。从现在开始往后还要工作17年才能退休,因此预计员工总共有27年的服务可以带来退休后养老金的PMT。步骤三计算value retirement。N=20(Retirement life expectancy),I/Y=4%(scount rate),PMT=上一步算出来的数字,FV=0,求PV。退休金是保障到员工去世的,根据题目条件,预计员工退休后还能活20年,公司就要付20年的退休金。步骤四计算annuunit cret=value retirement/预计总服务年限。上述四个步骤分别代入6%和5%的工资增长率,计算出annuunit cret差额。 这道题在经典题或者课后题里有讲解视频吗?是哪一集大概几分钟?

2024-07-30 13:47 1 · 回答

NO.PZ201812100100000206 €4,858. €5,446 B is correct. The finyear’s estimateearnings the enof Ye1 for the average participant woulcrease approximately €35,747.71. Because there are now 17 years until retirement, there are 16 years until retirement from the enof Ye1. The finyear’s estimateearnings, estimatethe enof Ye1, are follows: Current year’s salary × [(1 + Annucompensation increase)Years until retirement] Annucompensation increase of 6%: €100,000 × [(1.06)16] = €254,035.17 Annucompensation increase of 5%: €100,000 × [(1.05)16] = €218,287.46 The estimateannupayment for eaof the 20 years (retirement life expectancy) is (Estimatefinsalary × Benefit formul× Years of serviAnnucompensation increase of 6%: (€254,035.17 × 0.01) × (10 + 17) = €68,589.50 Annucompensation increase of 5%: (€218,287.46 × 0.01) × (10 + 17) = €58,937.61 The value the enof Ye17 (retirement te) of the estimatefuture payments is the PV of the estimateannupayment for eaof the 20 years the scount rate of 4%: Annucompensation increase of 6%: PV of €68,589.50 for 20 years 4% = €932,153.69 Annucompensation increase of 5%: PV of €58,937.61 for 20 years 4% = €800,981.35 The annuunit cret = Value retirement/Years of service: Annucompensation increase of 6%: €932,153.69/27 = €34,524.21 Annucompensation increase of 5%: €800,981.35/27 = €29,665.98 The annuunit cret for the average participant woulcrease €34,524.21 – €29,665.98 = €4,858.23. 考点annuunit cret计算 解析 步骤一计算finsalary。 注意是从current salary往后复利16年。因为题干scount rate下面有一句话, 在每年的服务年限的第一天就实现工资的增长,所以相当于是每年的第一天工资已经涨上去了。求第17年年末的finsalary,这个值就等于第17年年初的值,因为是年初涨工资。现在是0时刻,我们要计算第17年年初的工资金额,也就是第16年年末,所以是16次方。 步骤二计算退休后每年的PMT。 用benefit formula=finsalary*1%*预计总服务年限 根据题目条件可知,预计总服务年限=10+17。其中10年是vesteserviyear,17是预计员工退休前未来还需要服务的年限。 10年vesteserviyear,即到现在为止,员工已经有10年的服务满足了可获得养老金的要求,会给公司带来员工退休后养老金的给付义务。从现在开始往后还要工作17年才能退休,因此预计员工总共有27年的服务可以带来退休后养老金的PMT。步骤三计算value retirement。 N=20(Retirement life expectancy),I/Y=4%(scount rate),PMT=上一步算出来的数字,FV=0,求PV。 退休金是保障到员工去世的,根据题目条件,预计员工退休后还能活20年,公司就要付20年的退休金。 步骤四计算annuunit cret=value retirement/预计总服务年限。 上述四个步骤分别代入6%和5%的工资增长率,计算出annuunit cret差额。 请问题目中距离退休还有17年,为什么答案里求finsalary的时候是复利16年呢?求解 谢谢

2021-08-07 11:40 1 · 回答

老师你好,请问这道题退休后每年的payment的公式在题干中哪里?为啥找不到。。    

2019-05-27 14:24 1 · 回答

    在算value retirement的时候,是不是应该调成BGN mo?我理解应该第一笔钱是在退休的时候就拿到的吧?

2019-04-14 17:50 1 · 回答