Modelportfolio premium level For the effect on premium levels a single model portfolio was used. Table B.3 lists the accrual by age in any year. Males age OAP (68) 30 40 50 60 600 750 800 600 Females SP (def) OAP (68) SP (def) 420 525 560 420 400 500 550 400 280 350 385 280 Table B.3 Rights accrual per type of benefit for model portfolio premium levels For the survivor’s pension risk premium 40 years of service are assumed (in service at age 28, retirement at age 68). For schemes with old age pension and risk only survivor’s pension this means assuming 40 service years for all participants. For funds with survivor’s pension accrual, the survivor’s pension risk premium is based on future service years (68 minus current participant age minus 1). Actuarial assumptions The technical provisions and premiums for these portfolios are calculated using the following assumptions: • Life tables: Projections Life Table AG2018 and Projections Life Table AG2020, starting year 2021 • Age corrections and/or experience mortality: none • Discount rate: 1% and 3% • Retirement age: 65 for provisions and 68 for premiums • For deferred survivor’s pensions the following applies: – Undetermined-partner system prior to retirement age with a 100% partner frequency, determined-partner system after that. – 3 years age difference between man and woman (man older than woman) – Different genders for participant and spouse. • Lump sum rates for old age pension and survivor’s pension in payment are set by taking the average of in advance and in arrears payments. Projections Life Table AG2020 Appendix B 50
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