Re: working out pension annuity factors

"sylvian stone" wrote
> The formula above is exactly as given in the document where I read it:
>
> There are no 'top and right sides' in the
> formula, and I'm struggling to figure it out.

So it is! Very bad production on their part; but it is obvious from the
wording in section 6.6.80 -- "...the annuity will be payable monthly in
advance for a ** term certain of n years ** ..." -- that they did, indeed,
mean a guaranteed term rather than a life's age ('term certain' is another
way of saying a guarantee period).

Do you have a copy of the PMA92 & PFA92 tables?
Don't forget that you'll need the appropriate "Year of Birth" projections of
those tables... (see 6.6.84).



.