Vol. 1, 2001
THE APPROPRIATE DISPOSAL OF RETIREMENT FUND SURPLUSES
By A Asher
ABSTRACT
This paper attempts to clarify the different paradigms from which defined benefit funds are viewed, and the financial nature of the contracts implicit in their rules. Suggestions are made as to the principles that trustees might follow in applying the surpluses for the benefit of stakeholders.
THE APPROPRIATE DISPOSAL OF 429kb
PARAMETERISATION OF EXPECTED RESIDUAL LIFETIME
By DA Polakow, TT Dunne and JAG Whitworth
ABSTRACT
The consequences of the HIV/AIDS epidemic in Africa are expected to be considerable. A great deal of what is presently known about the HIV/AIDS epidemic has originated from studies in Europe or the Americas, or from urban African contexts. In contrast, the majority of people in sub-Saharan Africa infected with the virus will live in rural communities.
PARAMETERISATION OF EXPECTED RESIDUAL LIFETIME 576kb
THE FALL OF THE BAMBOO CURTAIN:
A REVIEW OF COMPLEMENTARY MEDICINE IN SOUTH AFRICA
By KS Caldis, HD McLeod and PR Smith
ABSTRACT
This paper considers the increased interest in and usage of complementary medicine. The movement is being led worldwide, not by healthcare professionals or the funders of healthcare, but by consumers. In South Africa, a pilot study was undertaken in 1999 to identify existing sources of data and collate information as an initial baseline of the practice of and interest in complementary medicine. The paper summarises the findings of that study.
THE FALL OF THE BAMBOO CURTAIN 428kb
THE USE AND ABUSE OF REINSURANCE
By HD McLeod, PG Slattery and AM van den Heever
ABSTRACT
An investigation by the regulatory authorities into the use of reinsurance by medical schemes indicated clear problems with reinsurance agreements and cases where the contracts were resulting in substantial losses for members of schemes. It was shown that in a number of cases reinsurance had become a conduit for systematically removing surplus from medical schemes, thus undermining the security of members of those schemes.
THE USE AND ABUSE OF REINSURANCE 395kb
AN EMPIRICAL APPROACH TO IMMUNIZATION IN SA
By AJ Maitland
ABSTRACT
This paper presents an empirical approach to immunizing South African nominal liabilities in the presence of non-parallel yield-curve shifts. The results are compared with immunization strategies based on Fisher-Weil duration and illustrate the value in immunizing against non-parallel shifts.
AN EMPIRICAL APPROACH TO IMMUNIZATION IN SA 416kb
EDITORIAL
EDITORIAL 417kb
LETTER TO THE EDITOR
LETTER TO THE EDITOR 28kb