JS function

The JS function returns the value at Age1 of $1 of pension per year starting at Age1 + Deferred, discounted with interest and mortality and payable:

See also JL to calculate a joint and life annuity ceasing on first death.

* : Required parameter

Parameters

Default

Description

Age1 *

Age of annuitant at valuation, fraction allowed

LX1 *

LX or LX_aea function: annuitant's mortality

interest *

Interest rate(s): single rate or vector of rates

Age2

Age of co-annuitant at valuation date, fraction allowed

LX2

LX or LX_aea function: co-annuitant's mortality

Reversion

0 %

% reverting to co-annuitant after annuitant's death

Guarantee

Payments guaranteed (in years), fraction allowed

Deferred

Deferment of first annuity payment, fraction allowed

Years paid

Period of payments (in years), by default, ends at age 120, fraction allowed

Indexation

0 %

Indexation rate(s): single rate or vector of rates

First age index

First age annuity is indexed, by default, starts at Age1 + Deferred + 1, fraction allowed

Frequency

Number of payments per year, must be an integer, e.g.: 1, 12, 24, 26, 52

Due

True

False: first payment further deferred by 1/Frequency (in years)

Qx-pre

True

True: Mortality during deferment period (on annuitant only)

Certain reduced

False

True: Guaranteed pension reduced after annuitant's death as per 'Reversion'

Percentage married

100 %

% married at retirement , used in conjunction with 'Reversion' and 'Guarantee'

Fraction first indexation

Fraction, between 0 and 1, applied to the first indexation