Sharia Early Retirement Modelling Using Accrued Benefit Cost
Keywords:
accrued benefit cost, early retirement, sharia investment, project unit creditAbstract
One approach for estimating normal cost and actuarial liability is Accrued Benefit Cost. In this study, researchers apply Accrued Benefit Cost to the Project Unit Credit to determine cumulative normal cost, actuarial liability, and to estimate cumulative fund development from sharia investment. This approach is applied to an insurance company that has 3 types of investment products, package A, package B, and package C. According to the simulation results, typical contributions are calculated based on the period of service and the initial income. The development fund depends on the investment package chosen, where participants who choose package A will get higher investment benefits than packages B and C. This is because the investment benefits of package A are more stable than that of B and C.
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References
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