Actuarial assumptions
Necessary when calculating the actuarial value w of a pension fund's assets versus liabilities. The assumptions are based on a mix of statistical studies and experienced judgment. (actuarial aannames)
03Aug
03Aug
Actuarial rate
The value to calculate the amount of money a pension fund needs now, in order to fully pay the future pensions of participants. In general, the actuarial rate is based on the expected risk-free yield. (rekenrente)
03Aug
Actuary
A professional who deals with the measurement and management of risk and uncertainty. (actuaris)
23Jul
Administrative capacity review
An instrument used by an organization develop insight into the quality of its own functioning. The review indicates how tasks are performed and whether objectives were achieved. (bestuurskrachtonderzoek)
18Dec
ALM Study
An Asset and Liability Management Study is conducted to provide insight into the relationship between expected proceeds from investments and the associated risks. The study can be used to recommend changes that can lead to improvement of the coverage ratio.
03Aug
APS
General Pension Fund of St. Maarten is the fund in which all government or public sector workers participate.(Algemeen Pensioenfonds Sint Maarten). For more about APS, visit www.apsxm.org
03Aug
Coverage ratio
The relationship (expressed in percentage) between the pension fund's capital and the pensions that must be paid in future to participants. (de dekkingsgraad)
06Nov
Defined Benefit
Is a type of pension plan in which an employer promises a specified pension payment on retirement that is predetermined by a formula based on the employee's earnings history, years of service and age. (toegezegd pensioenregeling)
06Nov
Defined Contribution
Is a pension plan in which the employer, employee or both make contributions on a regular basis. Individual accounts are set up for participants and benefits are based on the amounts credited to these accounts plus any investment earnings on the money in the account. A defined contribution plan does...
23Jul
Master Investment Policy Statement (MIPS)
The main document drafted between the portfolio manager and the APS that outlines general rules for the manager. It provides the general investment goals and objectives of the APS and describes the strategies that the manager should employ to meet these objectives.