StudentShare solutions
Triangle menu

Rifa - Essay Example

Nobody downloaded yet
Key Words financial terms, jargons, financial methods and techniques Discussion a) Jonny 1) According to Turner’s 2004 report, pension crisis is caused by two major factors. These are the downturn in financial markets and unpredicted improvement in longevity (Whitaker 1997, pg. 16). Of course there are other factors as well, but these two elements have the biggest role to play in anybody’s descent into pension crisis. Bill Murray should therefore watch them closely if he wants to avoid being caught up in the cobweb that is pension crisis. 2) A money purchase scheme is a variation of defined contribution pension schemes (Hearn 2004, pg. 32). It is normally created by employers as a pool from which they can pay their retired employees income. Despite the employer sponsoring it, it is managed by a board of trustees (with the only exception being public sector schemes). The Trustees are in charge of paying death and retirement benefits. The amount of income payable depends on the amount of contributions made to the scheme by an employer or member, the performance of investment funds and the annuity rate at the time one is retiring. 3) Jonny is not too young to think about pension schemes. In fact, at the age of 30, he should be ready to start putting money in a pension scheme. The reason for this is that he has 30 years or less of gainful employment, after which he will retire. Contributing consistently for 30 years in any pension scheme (especially a money-purchase scheme) is enough to sustain him for possibly the rest of his life. Pension Crisis Pension is a contract made in a regular basis to a person with a fixed sum on the retirement from service (Rein & Schma?hl 2004, pg. 69). Pension crisis can be defined as the predictable difficulty found in the payment for the federal, corporate and the state pensions in Europe caused by the difference between resources and the pension obligations used in funding them. Causes of Pension Crisis Underfunded Pension Plan Pension funds have to maintain a funding status or the assets value to liabilities in order to be able to afford the retirement benefits for their employees. An underfunded pension plan has fewer assets used to afford its liabilities. This is mainly caused by mismanagement as the pension schemes rely on the amount of cash being contributed from the sponsor which can be an employer (Rein & Schma?hl 2004, pg. 71). This management has a negative impact to the employees because there pension money has not been well handled. Shifting Demographics have also led to the lower ratio of workers per retiree. These are caused by the number of people retiring thereby causing employers to spend a lot of money on them compared to the profit gain of the company. The lower birth rates are also seen as a major factor as it leads to the decreasing labor force that is the number of workers. Money Purchase Scheme A money purchase scheme includes stakeholder and other occupational pension plans among others (Rein & Schma?hl 2004, pg. 73). Its benefits depend on contributions to the pension fund and also the investment of the assets placed which can be positive or negative. When one retires the amount of money depending on the two factors is what will lead to the income one will get on retirement. Money ...Show more


RIFA (Author’s name) (Institutional Affiliation) Introduction The report I am about to present will review, examine and discuss financial positions of four people, most of whom (with the exception of Jonny) are from the Murray family. This report will employ different financial methods and techniques in order to come up with valid conclusions and answers to the various questions facing Jonny and different members of the Murray family…
Author : kayabradtke
Rifa essay example
Read Text Preview
Save Your Time for More Important Things
Let us write or edit the essay on your topic
with a personal 20% discount.
Grab the best paper

Check these samples - they also fit your topic

The Value of Art in Education
According to the paper this section of the study also addresses literature discussing the value of arts in K-12 education, students’ learning through arts programs, the impact of No Child Left Behind Act on arts programs, and the perceptions of teachers, students, and public about the value of arts in education. Both theoretical and empirical studies are examined, in order to understand the thinking behind curriculum developments and the changing practices in schools over the last fifty years.
21 pages (5250 words) Essay
Contemporary Middle East History
Colonized by the Ottoman Empire during the 17th century and much of the 18th centuries and during much of the 18th and 19th centuries by Britain and France, the Middle East has endured the reign of foreign influences affecting its modern day political realities.
25 pages (6250 words) Essay
Relegion - Islamic studies
The first conflict, the incident of Saqifat Bani Saida, arose the day of the Prophet's death between the leaders of the ansar and three Muhajirun over the nature of the political leadership of the Muslim community. Abu Bakr's argument that the supreme leadership should be restricted to the Quraysh triumphed over the Ansari, al-Hubab b.
8 pages (2000 words) Essay
Critically examine the claim that notions of race have significantly in formed the developments of socil policy
(About Social Policy) "The subject addresses pressing policy problems in areas like child welfare, education, health and employment, drawing on British and comparative experience. It takes an inter-disciplinary approach to issues such as reforming welfare, promoting diversity, reducing inequalities or improving service provision.
5 pages (1250 words) Essay
Educational Theory and Sustainable Education
Since the middle of the 20th century, the treatment of natural resources and other species has been questioned. The concepts of sustainable development’ and ‘sustainability’ were introduced. These concepts suggested alternative ways of living and the ways to develop new patterns of behavior or ‘ecological’ consciousness.
13 pages (3250 words) Essay
Arab Views of Europeans 1578-1727
This paper will summarize this piece and will particularly outline his arguments and observations. What attitude did Muslims develop in their oral and written traditions towards the European
6 pages (1500 words) Essay
Miyazakis Animations and the Japanese Culture
According to the report social culture plays a role of laying a basis that facilitates behavior among the populace. The culture embodied by the Japanese society has strong connections with various gender roles. Contextually, the Japanese inhabitants seem to change the gender roles of men and women in the contemporary era.
12 pages (3000 words) Essay
Hire a pro to write
a paper under your requirements!
Win a special DISCOUNT!
Put in your e-mail and click the button with your lucky finger
Your email
Comments (0)
Click to create a comment
Let us find you another Essay on topic Rifa for FREE!
Contact us:
Contact Us Now
  • About StudentShare

  • Testimonials

  • FAQ

  • Blog

  • Free Essays
  • New Essays
  • Essays

  • The Newest Essay Topics
Join us:
Contact Us