Social Security and Pension Funds
Code
8517
Academic unit
Faculdade de Ciências e Tecnologia
Department
Departamento de Matemática
Credits
6.0
Teacher in charge
Gracinda Rita Diogo Guerreiro
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
ALM models
Bibliography
Portuguese legislation
Bowers, Newton, Gerber, Hickman, Jones and Nesbitt. (1997) Actuarial Mathematics (second edition). Itasca, Illinois: The Society of Actuaries
Winklevoss, H (2002) Pension mathematics with numerical illustrations; Pension Research Council of the Wharton School of the University of Pennsylvania.
Neill, A. (1992) Life contingencies. Butterworth-Heinemann, Oxford
Garcia, J; Simões, O (2010) Matemática Actuarial - Vida e Pensões. Editora Almedina
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
Students who have completed group work (TP1 and TP2) and have a grade higher than 9.5 on TP2 are assigned a frequency.
All students with special status recognized by the FCT-UNL general evaluation rules are exempt from attendance.
EVALUATION
The assessment of knowledge is carried out through two group assignments (TP1 and TP2) and one Test (T) to be carried out during the semester or through the Examination in Time of Appeal (E), lasting 3 hours.
Absence in an evaluation results in a classification of 0 values in this evaluation. The absence in TP1 and / or TP2 also translates into the lack of frequency.
A student obtains approval in the discipline if simultaneously verifies the following three conditions:
1 - Classification in the test (T) of not less than 8,5 values or the classification in the Exam (E) of not less than 8,5 values;
2 - Classification in work TP1 not less than 8.5 and in work TP2 not less than 9,5 values;
3 - EN = 0.25 TP1 + 0.4 TP2 + 0.35 T not less than 9.5 values or ER = 0.6 E + 0.4 TP2 not less than 9.5 values.
The final classification of an approved student is given by the symmetric rounding of EN or ER.
IMPROVEMENT AND DEFENSE OF NOTE
Every student in the current academic year who intends to take the mark improvement exam must register for this purpose at the Academic Office.
Note Improvement can be made at Resort Time. In order to improve the grade, it is required that:
1 - The classification obtained in this exam (EM) is not inferior to 9,5;
2 - The symmetric rounding of NEM = 0.6 MS + 0.4 TP2 is higher than the previous final classification.
Students who have completed U.C. in previous years MS is required to be higher than the previous final classification.
When the student''s final grade (given by EN, ER or NEM) is> = 18.5, the student may choose the final grade of 18 points or by performing an additional grade defense, to be combined with the teacher.