Wendy has been a member of an occupational final salary defined benefit pension scheme for 20 years. She is currently 45 years old and plans to retire when she is 65. Her expected final year’s salary is £30,000. The pension scheme operates on the basis of 1/80 of salary per year of membership of the pension scheme. What can she expect to receive as her pension per annum?
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Wendy has been a member of an occupational final salary defined benefit pension scheme for 20 years. She is currently 45 years old and plans to retire when she is 65. Her expected final year’s salary is £30,000. The pension scheme operates on the basis of 1/80 of salary per year of membership of the pension scheme. What can she expect to receive as her pension per annum?
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- Alice has been in a defined-contribution pension scheme since she was 35 and will retire in one year’s time at age 66. Her salary is currently £55,000. Throughout her enrolment in the scheme, she has paid in 8% of salary, and this has been topped up by employer contributions and tax relief worth 4% of salary. She will also qualify for a state pension of £9,000 per year. 1. If Alice uses her whole pension fund to buy an index-linked annuity, how much income will she receive in her first year of retirement?Alice has been in a defined-contribution pension scheme since she was 35 and will retire in one year’s time at age 66. Her salary is currently £55,000. Throughout her enrolment in the scheme, she has paid in 8% of salary, and this has been topped up by employer contributions and tax relief worth 4% of salary. She will also qualify for a state pension of £9,000 per year. 1.1 If Alice uses her whole pension fund to buy an index-linked annuity, how much income will she receive in her first year of retirement? I Would like know how do the exercise , no the answer , why the total annual is 660.000 ?Julie has just retired. Her company’s retirement program has two options as to how retirement benefits can be received. Under the first option, Julie would receive a lump sum of $138,000 immediately as her full retirement benefit. Under the second option, she would receive $25,000 each year for 6 years plus a lump-sum payment of $57,000 at the end of the 6-year period. Click here to view Exhibit 12B-1 and Exhibit 12B-2, to determine the appropriate discount factor(s) using tables. Required: 1-a. Calculate the present value for the following assuming that the money can be invested at 12%. 1-b. If she can invest money at 12%, which option would you recommend that she accept?
- Julie has just retired. Her company's retirement program has two options as to how retirement benefits can be received. Under the first option, Julie would receive a lump sum of $134,000 immediately as her full retirement benefit. Under the second option, she would receive $28,000 each year for 5 years plus a lump-sum payment of $53,000 at the end of the 5-year period. Click here to view Exhibit 14B-1 and Exhibit 14B-2, to determine the appropriate discount factor(s) using tables. Required: 1-a. Calculate the present value for the following assuming that the money can be invested at 12%. 1-b. If she can invest money at 12%, which option would you recommend that she accept? Answer is not complete. Complete this question by entering your answers in the tabs below. Req 1A Req 1B Calculate the present value for the following assuming that the money can be invested at 12%. (Round your final answer to the nearest whole dollar amount.) Option 1 Option 2 Present value Req 1B > 134,000 < Req 1AThe XYZ corporation pension plan provides a lifetime annual income to its employees upon retirement at age 65. The plan provides 4% for each year of service of the employee's salary upon retirement. Moreover, those retiring after 65 have their benefit increased by 1.1% for each year beyond 65 that they work. Caitlin retires at age 73 with 16 years of service. If her salary upon retirement is $60, 106, what is her annual pension benefit?You were employed by ML Co. for 20 years and retired on 30 September 2020 at the age of 57. This income year you will receive an annual pension of $20,000 from the ML Co. superannuation fund for the rest of your life. You and your spouse have private health cover. What amount of pension will be assessable? Show working and give reasons for your answer.
- Malcolm knows about the Old Age Security (OAS) pension clawback but is unsure how to calculate if for him and his wife. In 2020, the OAS pension is clawbacked or reduced by 15% above $79,054. Malcolm and his wife are both receiving monthly pensions of $613.54. His net income is $130,000 while his wife's net income is $85,000. What is the total amount they have to repay in 2020? Minimum Income Recovery Threshold Maximum Income Recovery Threshold $79,054 $8,254 $14,725 $892 $13,833 $7,362 $128,137Antonia works at First National Bank.Her employer offers her a pension retirement plan,which will be 1.75% of her average salary for the last 5 years of employment for every year worked.Antonia is planning on retiring at the end of this year after 26 years of employment.Her salaries for the last 5 years are:$91,300, $92,500, $96,750, $99,400, and $105,000. Calculate Antonia’s pensionOscar is looking forward to retirement in a few years when he will have completed 20 years of pensionable service. Oscar's pension plan provides an annual pension benefit of 1.5% of average career earnings for each year of pensionable service. Using information from Oscar's pension statements, he estimates his career average annual earnings will be $50,000 when he retires with 20 years of service. Given these assumptions, calculate Oscar's annual pension benefit that he can expect to receive when he retires. $7,500 $10,000 $15,000 $20,000
- Julie has just retired. Her company's retirement program has two options as to how retirement benefits can be received. Under the first option, Julie would receive a lump sum of $130,000 immediately as her full retirement benefit. Under the second option, she would receive $19,000 each year for 5 years plus a lump-sum payment of $75,000 at the end of the 5-year period. Required: 1-a. Calculate the present value for the following assuming that the money can be invested at 11%. 1-b. If she can invest money at 11%, which option would you recommend that she accept? Complete this question by entering your answers in the tabs below. Reg 1A Reg 18 If she can invest money at 11%, which option would you recommend that she accept? First option Second optionHarry is 45 years of age and is a member of a specified pension plan (SPP). She is planning for an active retirement that she expects will last 30 years. Harry believes she will need $75,000 before tax to support her desired retirement lifestyle. If Harry retires at age 60, how much would she need in her SPP to provide an annual retirement income of $75,000, paid at the beginning of each year? Assume an interest rate of 6% compounded annually. Disregard income taxes. (place answer below to the nearest dollar with no $ sign)Julie has just retired. Her company’s retirement program has two options as to how retirement benefits canbe received. Under the first option, Julie would receive a lump sum of $150,000 immediately as her fullretirement benefit. Under the second option, she would receive $14,000 each year for 20 years plus a lumpsum payment of $60,000 at the end of the 20-year period.Required:If she can invest money at 12%, which option would you recommend that she accept? Use present valueanalysis.