Application of Projected Unit Credit Method (PUC) and Entry Age Normal (EAN) in Pension Fund Calculation

Agus Sofian Eka Hidayat, Ni Kadek Gita Maharani, Nayla Hapsari, Aprilia Ajeng

Abstract


This study explores the application of the Projected Unit Credit (PUC) and Entry Age Normal (EAN) methods in calculating normal cost and actuarial liability for pension funds. By comparing the two methods, the research aims to provide insights into their implications for pension fund management. The PUC method, which takes into account salary growth over time, typically results in increasing normal cost and smaller actuarial liability as the participant's service period lengthens. Conversely, the EAN method spreads the pension cost evenly over an employee's working years, leading to stable normal cost and higher actuarial liability, particularly in the mid-period of membership. The study utilizes data from PT. XYZ, applying both methods separately for male and female participants due to differences in life expectancy. The results offer a comparative analysis that highlights the financial implications of each method for both participants and pension fund companies, contributing to more effective pension fund management strategies.

Keywords


Actuarial Liability; Entry Age Normal; Normal Cost; Pension Fund; Projected Unit Credit.

Full Text:

PDF

References


] M. Ahyar, N. Satyahadewi, and H. Perdana, “Metode Projected Unit Credit Dan Individual Level Premium Dalam Perhitungan Dana Pensiun,” Buletin Ilmiah Math. Stat. dan Terapannya (Bimaster), vol. 10, no. 1, 2021.

O. J. K. (OJK), Statistik Dana Pensiun 2022 (Pension Fund Statistics 2022). Jakarta: Otoritas Jasa Keuangan, 2022. [Online]. Available: https://www.ojk.go.id/id/kanal/iknb/data-dan-statistik/dana-pensiun/Pages/Statistik-Dana-Pensiun-2022.aspx

A. H. B. Utami, Y. Wilandari, and T. Wuryandari, “Penggunaan metode projected unit credit dan entry age normal dalam pembiayaan pensiun,” Jurnal Gaussian, vol. 1, no. 1, pp. 47–54, 2012.

I. Syahrini, N. Nurmaulidar, I. Maulidi, and M. Alfira, “Aplikasi Metode Entry Age Normal Dan Projected Unit Credit Untuk Iuran Normal Dan Kewajiban Aktuaria Pada Dana Pensiun Pns,” Journal of Data Analysis, vol. 2, no. 1, 2020, doi: 10.24815/jda.v2i1.14377.

W. H. Aitken, “A problem-solving approach to pension funding and valuation,” (No Title), 1996.

S. Nurlatifah, S. Sudarno, and A. Hoyyi, “Perhitungan Biaya Tambahan Dengan Metode Accrued Benefit Cost Pada Pendanaan Program Pensiun Manfaat Pasti,” Jurnal Gaussian, vol. 4, no. 3, pp. 679–686, 2015.

M. E. N. Islam, Y. Wilandari, and S. Suparti, “Perhitungan pembiayaan dana pensiun dengan metode attained age normal dan projected unit credit (Studi kasus: PT. Taspen (Persero) Kantor Cabang Utama Semarang),” Jurnal Gaussian, vol. 5, no. 3, pp. 505–514, 2016.

R. E. Caraka, “Kajian perhitungan dana pensiun menggunakan accrued benefit cost,” Jurnal BPPK: Badan Pendidikan dan Pelatihan Keuangan, vol. 9, no. 2, pp. 160–180, 2016.

L. Gubu and W. Somayasa, “Perbandingan Metode Attained Age Normal Dan Projected Unit Credit Untuk Menghitung Premi Dana Pensiun Berdasarkan Tabel Mortalitas: Perbandingan Metode Attained Age Normal Dan Projected Unit Credit,” Jurnal Matematika Komputasi dan Statistika, vol. 4, no. 1, pp. 586–595, 2024.




DOI: http://dx.doi.org/10.33021/jafrm.v4i1.5993

DOI (PDF): http://dx.doi.org/10.33021/jafrm.v4i1.5993.g2334

Refbacks

  • There are currently no refbacks.