Article Per Year (5 Year)
p-Index From 2020 - 2025
0.61
P-Index
This Author published in this journals
All Journal International Journal of Global Operations Research International Journal of Quantitative Research and Modeling
Hukama, Atha
Unknown Affiliation
Computer Science & IT Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Engineering Environmental Science Mathematics Physics

Published : 3 Documents Claim Missing Document
Claim Missing Document
Check
Articles

Found 3 Documents
Search

 1 
Pension Fund Calculations for Regular Retirees Using the Projected Unit Credit Method and the Individual Level Premium Method in the Case Study PT Dynacast Indonesia. Hukama, Atha; Pangestu, Rizcki; Laksito, Grida Saktian
International Journal of Global Operations Research Vol. 5 No. 3 (2024): International Journal of Global Operations Research (IJGOR), August 2024
Publisher : iora

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47194/ijgor.v5i3.323

Abstract

The pension program provider requires actuarial valuation to estimate the necessary fund amount for pension payments. This research employs the projected unit credit and individual level premium methods. The findings indicate that the valuation of pension benefits, assuming a career average salary, is lower compared to other salary assumptions. Conversely, the final valuation of project unit credit using the individual level premium method is smaller than that of the projected unit credit method, which is more suitable for participants in the pension funding program. A pension fund program represents a form of future planning aimed at ensuring the well-being of employees during retirement. It embodies a company's responsibility towards employees who have dedicated themselves during their working years. Such a program offers a sense of security regarding an employee's financial future post-retirement and fosters peace of mind, knowing that their well-being in old age is assured.
Comparative Analysis of Normal Pension Benefits Using the Attained Age Normal Method and the Individual Level Premium Method Hukama, Atha; Parmikanti, Kankan; Riaman, Riaman
International Journal of Quantitative Research and Modeling Vol 6, No 2 (2025)
Publisher : Research Collaboration Community (RCC)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.46336/ijqrm.v6i2.946

Abstract

Pension programs are among the most important forms of employee compensation, offering financial security after retirement. This study aims to calculate the company’s initial payroll contributions to determine regular contributions, actuarial liabilities, and pension benefits using two actuarial projection methods: the Attained Age Normal (AAN) and Individual Level Premium (ILP) methods. The analysis is based on employee data from Puskesmas Binjai Estate, including age, salary, and years of service. It includes computations of pension benefits, normal costs, actuarial liabilities, and net benefits received by employees under each method. The results reveal that the length of service significantly affects both the value of contributions and the actuarial liabilities. Employees with longer service periods result in higher contribution requirements and greater liabilities. Moreover, the Attained Age Normal method produces higher pension benefits compared to the Individual Level Premium method for long-serving employees. However, both methods present financial challenges for employers, as they require higher contributions relative to the benefits promised. Consequently, companies must allocate substantial funding to meet their pension obligations. This study provides a comparative perspective that can assist decision-makers in selecting an actuarial method that balances benefit adequacy and financial sustainability.
Comparative Analysis of Normal Pension Benefits Using the Attained Age Normal Method and the Individual Level Premium Method Hukama, Atha; Parmikanti, Kankan; Riaman, Riaman
International Journal of Quantitative Research and Modeling Vol. 6 No. 2 (2025)
Publisher : Research Collaboration Community (RCC)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.46336/ijqrm.v6i2.946

Abstract

Pension programs are among the most important forms of employee compensation, offering financial security after retirement. This study aims to calculate the company’s initial payroll contributions to determine regular contributions, actuarial liabilities, and pension benefits using two actuarial projection methods: the Attained Age Normal (AAN) and Individual Level Premium (ILP) methods. The analysis is based on employee data from Puskesmas Binjai Estate, including age, salary, and years of service. It includes computations of pension benefits, normal costs, actuarial liabilities, and net benefits received by employees under each method. The results reveal that the length of service significantly affects both the value of contributions and the actuarial liabilities. Employees with longer service periods result in higher contribution requirements and greater liabilities. Moreover, the Attained Age Normal method produces higher pension benefits compared to the Individual Level Premium method for long-serving employees. However, both methods present financial challenges for employers, as they require higher contributions relative to the benefits promised. Consequently, companies must allocate substantial funding to meet their pension obligations. This study provides a comparative perspective that can assist decision-makers in selecting an actuarial method that balances benefit adequacy and financial sustainability.
Co-Authors Kankan Parmikanti Laksito, Grida Saktian Pangestu, Rizcki Riaman Riaman, Riaman