Social Security and Pension Funds
Code
8517
Academic unit
Faculdade de Ciências e Tecnologia
Department
Departamento de Matemática
Credits
6.0
Teacher in charge
Inês Jorge da Silva Sequeira
Weekly hours
4
Total hours
70
Teaching language
Português
Objectives
The aim of the Social Security and Pension Funds subject is to apply, in simple situations, the mathematical and economic techniques and the principles of actuarial planning to evaluate liabilitys with employee benefits.
Prerequisites
Students should have knowledge of calculus, financial and life contingencies.
Subject matter
Social Security
Social Security Three pillar system
Main systems and problems of the Social Security
Pension plans
Portuguese Legislation
Implementing a Pension plan
The importance of the hypotesess in the evaluation of liabilities
Evaluation of Liabilities
Actuarial methods of funding
Defined contribution pension plans
Some topics on management
Bibliography
Portuguese legislation
Bowers, Newton, Gerber, Hickman, Jones and Nesbitt. (1997) Actuarial Mathematics (second edition). Itasca, Illinois: The Society of Actuaries.
Garcia, J; Simões, O (2010) Matemática Actuarial - Vida e Pensões. Editora Almedina.
Neill, A. (1992) Life contingencies. Butterworth-Heinemann, Oxford.
Winklevoss, H (2002) Pension mathematics with numerical illustrations; Pension Research Council of the Wharton School of the University of Pennsylvania.
Teaching method
The teacher presents the themes using slides and privileging the exchange of ideas to reach the goal of each lesson. Students perform practical application of the concepts acquired in class throughout the semester. Whenever possible the matter is illustrated with real examples from insurance and Social Security. Classes take place in the laboratory to be possible to access content on the internet and solving using Excel.
Evaluation method
Frequency
It is attributed to students who have attended at least 5 classes. Are exempted from obtaining it all students with special status.
Evaluation
Only students who obtain frequency or have special status can attend assessment tests. The evaluation is performed through two tests during the semester, lasting 90 minutes each (T1 and T2), or through exam (E), with a duration of 3 hours. In addition all enrolled students must submit two practical assignments, one group assignments (TG) and individual assignments (IT).
The absence of an assessment it is 0 values in this evaluation.
A student gets approval in the course simultaneously check if the following three conditions:
classification in both tests (T1 and T2) not less than 8.5 values or classification Exam (E) not less than 8.5 values;
classification in both assignments (TG and TI) values not less than 10.0;
NT = 0.2 T1 + 0.3 T2 + 0.25 TG +0.25 TI not less than 9.5 or NE= 0.5 E + 0.25 TG +0.25 TI not less than 9.5.
Improvement of Grade
Every student who wishes to improve the grade must sign up for this purpose, the Academic Division. The improvement can be made in Época de Recurso. It is requires that:
the grade obtained in this exam (EM) is not less than 9.5;
NEM = 0.5 EM + 0.25 TG + 0.25 TI is higher than the previous grade.