ACTUARIAL VALUATION USING SPOT RATE AND IMPLICIT MODELS FOR ZENITH BANK,ABUJA
Abstract
ABSTRACT This study examines the actuarial valuation using spot rates and implicit models at Zenith Bank,Abuja . Some of the specific objectives of the study was to determine the effect of years of service on accumulated funds of the defined contribution in the insurance company, to investigate the effect of perceived life expectancy on accumulated fund of defined contribution pension in the insurance company: and to investigate the effect of funding gaps on accumulated funds of defined contribution pension in the company. The study made use of secondary data which were extracted from earlier work on funding gap to determine the extent of pension liabilities from Zenith Bank,Abuja. The secondary data covered the period of 25 years (2018 to 2023) for all employees to ascertain the level of compliance among the employers. However, the descriptive statistics, significant test, spearman correlation and square methods were used to analyze the data. The result of the funding revealed that years of service has positive and significant impact on accumulated pension fund(IC=83.2% ,t=0.823,p)
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