Pensions & life assurance ul pricing & accounting

Content
- Structure of funds and pricing issues
- Unit linked, Non linked and with profit funds
- Underlying assets of each type of business
- Actuaries accountants and fund pricing roles of each and interaction
- Units in funds compared to unit trusts
- Cross holdings
- Life and Pensions
- Bid offer and mid price
- Guarantees
- Liquidating units to meet charges and costs
- The overall company position
- DTI return
- The prime pricing mechanism - asset type equities
- Purchases and sales
- Bonus issues
- Rights issues, Rights issues nil paid, stamp duties and costs, share buy-backs
- Price feeds and valuations, Extel etc concepts of risk in pricing
- Derivatives types and accounting-futures
- CGT reserving - realisation basis
- Income received - tax credit system, accrual
- Asset types - UK unit trusts
- Purchases and sales
- Equalisation
- Managers rebates stamp duty reserve tax issues
- CGT calculations deemed disposals seven year spreading rule
- Income receipts - dividend streaming, recovery on unfranked element, accrual
- Asset types - Overseas assets
- Purchase and sales
- Currency gains and losses
- CGT reserving basis
- Overseas income - foreign taxes & withholding tax recoveries
- Asset types - Gilts Bonds and interest bearing equities
- Purchases and sales
- Accruals basis and mark to market pricing (a particular look at non-link funds)
- Tax basis - realised gains reserve
- Income tax and recoverability for pension funds
- Gross gilt regime
- Asset types properties
- Purchase and sales brief discussion of VAT issues, enhancement expenditure
- Income and expenses
- Portfolio examples
- Bringing it all together worked example of a mixed fund
- Pricing controls
- Causes of error
- Correction and rectification
- Reasonable expectations of policyholders and the actuarial requirements



Todays Date: 8 September 2017
Duration 2 days