DOI: https://doi.org/10.14710/jfma.v6i2.20150

FROZEN INITIAL LIABILITY METHOD TO DETERMINE NORMAL COST OF PENSION FUND WITH VASICEK INTEREST RATE MODEL

*Sulma Sulma orcid  -  Department of Actuarial Science, Universitas Muhammadiyah Bulukumba, Jl. Poros Bulukumba-Bantaeng KM.9, Bulukumba, 92561, Indonesia, Indonesia
Nur Ahniyanti Rasyid  -  Department of Actuarial Science, Universitas Muhammadiyah Bulukumba, Jl. Poros Bulukumba-Bantaeng KM.9, Bulukumba, 92561, Indonesia, Indonesia
I Nyoman Widana  -  Department of Mathematics, Faculty of Mathematics and Natural Science, Universitas Udayana, Indonesia

Citation Format:
Abstract

Civil servants have an important role in national development, so increasing their productivity is needed. The pension fund program is given as a form of effort by government agencies to ensure employee welfare when entering retirement. This research discusses the normal cost of the defined benefit pension program using one of the actuarial valuation methods, namely Frozen Initial Liability (FIL), by taking into account the stochastic interest rate following the Vasicek model. The data used in this study are lecturers majoring in MIPA, Faculty of Science and Technology, Universitas Jambi, consisting of 8 people of female gender with the status of being a participant since 2022. Based on the calculation results obtained that in the period 0-30 years, the normal cost for each group member is constant, namely  per year or  per month. When the working period entered 31 years, one by one the participants began to enter their retirement period, which resulted in a change in the normal cost value. At 38 years of service, there was only one participant with a normal cost of  per year or by  per month. Changes in normal cost tend to decrease when retirement program participants also decrease. In the period of more than 38 years, all participants have retired so that normal cost payments are stopped.

Fulltext View|Download

Article Metrics:

Article Info
Section: FUNDAMENTAL MATHEMATICS AND APPLICATIONS
Language : EN
Recent articles
FLOWER POLLINATION ALGORITHM (FPA): COMPARING SWITCH PROBABILITY BETWEEN CONSTANT 0.8 AND DOUBLE EXPONENTGUNAKAN DOUBLE EXPONENT IDEMPOTENT ELEMENTS IN MATRIX RING OF ORDER 2 OVER POLYNOMIAL RING $\mathbb{Z}_{p^2q}[x]$ FROZEN INITIAL LIABILITY METHOD TO DETERMINE NORMAL COST OF PENSION FUND WITH VASICEK INTEREST RATE MODEL More recent articles
  1. Y. U. L. Tobing dan S. Manullang, “Perbandingan Suku Bunga Konstan dan Suku Bunga Stokastik Dalam Perhitungan Dana Pensiun dengan Metode Entry Age Normal,” KARISMATIKA, vol. 7, no. 2, hlm. 9–17, 2021
  2. M. D. Izzati dan M. D. Kartikasari, “Implementasi Metode Perhitungan Aktuaria Program Dana Pensiun Menggunakan Flask,” Jambura J. Math., vol. 4, no. 2, hlm. 247–264, Jun 2022, doi: 10.34312/jjom.v4i2.12954
  3. I. Syahrini, N. Nurmaulidar, I. Maulidi, dan M. Alfira, “Aplikasi Metode Entry Age Normal dan Projected Unit Credit untuk Normal cost dan Kewajiban Aktuaria Pada Dana Pensiun PNS,” J. Data Anal., vol. 2, no. 1, hlm. 43–52, Jan 2020, doi: 10.24815/jda.v2i1.14377
  4. I. N. Widana dan N. M. Asih, “Perhitungan Normal cost Program Pensiun dengan Asumsi Suku Bunga Mengikuti Model Vasicek,” J. Mat., vol. 7, no. 2, hlm. 85, Des 2017, doi: 10.24843/JMAT.2017.v07.i02.p85
  5. W. A. Yuda, I. N. Widana, dan I. W. Sumarjaya, “Perhitungan Aktuaria Manfaat Pensiun-Normal Suku Bunga Vasicek Menggunakan Metode Entry Age Normal,” E-J. Mat., vol. 7, no. 2, hlm. 134, Mei 2018, doi: 10.24843/MTK.2018.v07.i02.p195
  6. Y. Sari dan S. Resti, “Penggunaan Metode Frozen Initial Liability Pada Normal cost Use Of The Frozen Initial Liability Method For Normal Fee,” vol. 2, no. 1, 2023
  7. Z. A. Hendra Perdana Neva Satyahadewi, “Penggunaan Metode Frozen Initial Liability Pada Perhitungan Pendanaan Pensiun Manfaat Pasti (Studi Kasus: Data Pegawai Negeri Sipil di Puskesmas Kecamatan Hulu Gurung Kabupaten Kapuas Hulu),” Bimaster Bul. Ilm. Mat. Stat. Dan Ter., vol. 9, no. 1, Jan 2020, doi: 10.26418/bbimst.v9i1.38033
  8. H. F. Masyithania, L. T. Mahmudi, dan A. Z. Soleh, “Normal cost Dana Pensiun Metode Entry Age Normal dan Frozen Initial Liability,” J. Stat. Teori Dan Apl. Biomed. Ind. Bus. Soc. Stat., vol. 20, no. 3, hlm. 79–86, 2023
  9. S. Artika, I. G. P. Purnaba, dan D. C. Lesmana, “Penentuan Premi Asuransi Jiwa Berjangka Menggunakan Model Vasicek dan Model Cox-Ingersoll-Ross (CIR),” J. Math. Its Appl., vol. 17, no. 2, hlm. 129–139, Des 2018, doi: 10.29244/jmap.17.2.129-139
  10. A. Azizah, E. D. Ratnasari, A. S. Mukhtar, E. N. Falah, dan A. Prabowo, “Konstruksi Tabel Mortalitas untuk Laki-Laki Menggunakan Hukum Makeham dengan Mengacu pada TMI 2019,” Perwira J. Sci. Eng., vol. 2, no. 2, hlm. 39–43, 2022
  11. R. B. Silalahi dan R. Budiarti, “Nilai Premi Asuransi Jiwa Berjangka Single Life Model Cox-Ingersoll-Ross (CIR),” STATMAT J. Stat. DAN Mat., vol. 4, no. 1, hlm. 1–8, 2022
  12. S. Aulia, H. Yozza, dan . M., “Perhitungan Iuran Pensiun Untuk Pensiun Normal Berdasarkan Metode Benefite Prorate Tipe Constant Dollar,” J. Mat. UNAND, vol. 7, no. 1, hlm. 19, Feb 2018, doi: 10.25077/jmu.7.1.19-23.2018
  13. R. E. Caraka, “Kajian Perhitungan Dana Pensiun Menggunakan Accrued Benefit Cost,” J. BPPK, vol. 9, no. 2, hlm. 160–180, 2016
  14. M. M. Y. Limbong, D. Rachmatin, dan A. P. Martadipura, “Penerapan Model Tingkat Suku Bunga Cox Ingersoll Ross (CIR) Dalam Penentuan Normal cost Pensiun,” J. EurekaMatika, vol. 10, no. 2, hlm. 139–150, 2022

Last update:

No citation recorded.

Last update:

No citation recorded.