Life Assurance & Pensions Unit Linked Pricing
Background
This course aims to provide a complete back ground in the Life Assurance Unit pricing of Life and Pension funds. The course includes the implications of year end evaluations and the production of accounts. The taxation implications of receiving income in both pension and life funds is covered together with the issue of charging of policy fees and related taxation charges.
The course will not cover the technical tax charging but will cover tax provisioning at assumed tax rates. The course will also look at the implications of direct vs indirect investment and the impact of IAS 32 & 39 on Life and Pension funds. Derivative Accounting is not covered and the funds are assumed not be Hedge Funds.
Delegates
- Accounting staff in Life and Pension companies
- Pricing staff
- Taxation staff
- Risk and Compliance Staff
- Actuarial students and actuaries involved in regulatory returns
- Legal staff involve in actuarial and other matters
- Audit staff
- IT and Systems development staff
Delegates require a basic knowledge of accounts and at least 6 months experience in a Life and Pension fund Pricing or Accounting environment
Content
- ACCOUNTING FOR EQUITIES : FAIR VALUE, BID AND OFFER PRICING (DUAL PRICING MECHANISM)
- ACCOUNTING FOR FIXED INTEREST INSTRUMENTS AND THE IMPLICATIONS OF IAS32
CONVERSIONS, AMALGAMATIONS, INCOME AND CAPITAL ACCRUALS PERIOD END TRANSACTIONS, INVESTMENT OBJECTIVES.
- CAPITAL PROCESSES, UNIT TRUSTS AND OEICS (INCLUDING OTHER FUNDS REITS, OFFSHORE FUNDS AND COLLECTIVES)
- DIVIDEND AND INCOME RECEIPTS
- DIVIDEND STREAMING, EQUALISATION PRICING ANALYSIS, CROSS HOLDINGS, MANAGED FUNDS, ALLOCATION OF TAX, REBATES AND RECOVERIES PRICING INCLUDING LIQUIDATION OF UNITS FOR MANAGEMENT CHARGES, PRICING ISSUES, POLICYHOLDER UNIT ALLOCATIONS
ACTUARIAL CONCEPTS, RISK AND THE LIFE AND PENSION FUNDS, A BRIEF DISCUSSION OF INCLUSION IN REGULATORY RETURNS AND RISK, ALLOWABLE ASSETS AND VALUATION FOR ACTUARIAL PURPOSES