Faculty of Science and Technology USIM is proud to be associated with this seminar organized jointly by Actuarial Partners, UiTM, USIM and SOCSO.
The presentations by speakers can be obtained from the website http://www.actuarialpartners.com/sss-presentation/
Tuesday, June 26, 2012
Islamic Mega Bank
Asian Finance Bank likely target as Islamic mega lender, say sources
An interesting development in the Islamic Finance area. This should be followed closely by those in actuarial science field and financial risk management students.
Thursday, February 2, 2012
Fomca: Don’t use EPF money for public housing loans
I agree with FOMCA on this issue and hope FOMCA will continue to fight for the welfare of workers in Malaysia who will eventually retire and want to benefit from their savings in the EPF. However if the government can ensure a high return on this investment, say 7% or more, there is no reason why they should not use the fund to benefit the low income earners in Malaysia.
Also, since the government has the power to decide on the mechanism of funding the low cost housing project, they should ensure that the funding is done in a syariah compliant manner. This will then benefit the muslim contributors who will be able to have a peace of mind when using the dividends declared for their funds.
Also, since the government has the power to decide on the mechanism of funding the low cost housing project, they should ensure that the funding is done in a syariah compliant manner. This will then benefit the muslim contributors who will be able to have a peace of mind when using the dividends declared for their funds.
Tuesday, October 11, 2011
Food Myths
I got this from my son Faeez and would like to share it with my readers. I must caution you that this has nothing to do with actuarial science or finance.
Every other week, new research claims one food is better than another, or that some ingredient yields incredible new health benefits. Couple that with a few old wives' tales passed down from your parents, and each time you fire up your stove or sit down to eat a healthy meal, it can be difficult separating food fact from fiction. We talked to a group of nutritionists and asked them to share the food myths they find most irritating and explain why people cling to them. Here's what they said.
Every other week, new research claims one food is better than another, or that some ingredient yields incredible new health benefits. Couple that with a few old wives' tales passed down from your parents, and each time you fire up your stove or sit down to eat a healthy meal, it can be difficult separating food fact from fiction. We talked to a group of nutritionists and asked them to share the food myths they find most irritating and explain why people cling to them. Here's what they said.
Monday, October 10, 2011
Pension Funding Deficit Reaches 50-Year High — Should You Be Worried?
In light of the recent Malaysian 2012 Budget, this article is relevant not only for consideration of private pension planners but also to the Malaysian Government Pension Department (Bahagian Pasca Perkhidmatan JPA). Defined Benefit plans give pensioners guarantees of income during retirement until death but the ability to pay depends on mortality and investment return.
The market swoon in last month didn’t just hurt your portfolio, it also clobbered corporate pensions. The total deficit of U.S. pension liabilities increased by $134 billion to $512 billion as of September 30, according to worldwide HR consulting firm Mercer. The reported deficit compares pension liabilities to assets in pension trusts for defined benefit retirement plans sponsored by S&P 1500 companies. The increase in the deficit results from a combination of stock market declines and decreases in yields on high-quality corporate bonds during the month. (Pension liabilities rise when interest rates fall, due to reduced expectations for future investment earnings).
Read more: http://moneywatch.bnet.com/retirement-planning/blog/money-life/pension-funding-deficit-reaches-50-year-high-should-you-be-worried/5407/#ixzz1aLgta0JB
The market swoon in last month didn’t just hurt your portfolio, it also clobbered corporate pensions. The total deficit of U.S. pension liabilities increased by $134 billion to $512 billion as of September 30, according to worldwide HR consulting firm Mercer. The reported deficit compares pension liabilities to assets in pension trusts for defined benefit retirement plans sponsored by S&P 1500 companies. The increase in the deficit results from a combination of stock market declines and decreases in yields on high-quality corporate bonds during the month. (Pension liabilities rise when interest rates fall, due to reduced expectations for future investment earnings).
Read more: http://moneywatch.bnet.com/retirement-planning/blog/money-life/pension-funding-deficit-reaches-50-year-high-should-you-be-worried/5407/#ixzz1aLgta0JB
Friday, September 30, 2011
A 4D windfall, then a death
This news has been reported in many local newspapers. The gamblers who won decided to enjoy by drinking and getting themselves drunk. In the end, a tragedy resulted and I consider this as a way for Allah to remind people not to participate in gambling activities.
Alcoholic drinks and gambling are two very serious crimes in Islam and thus no one should even try to get near them. However there are many schemes that are not considered gambling but seems like gambling. I, personally consider that any scheme where you are entitled to get a substantial amount of money or can make huge monetary gains through a lucky draw should be regarded as gambling and there are many such schemes being run. Islamic scholars should study the issues of gambling very seriously and then alert Muslims to stay away from such practices.
BUTTERWORTH: An outing by five friends to celebrate their 4-digit winnings ended in tragedy when the car they were in plunged into the sea near the Bagan Dalam wharf early yesterday.
Four of them swam to safety, but the 24-year-old driver is believed to have drowned in the 12.45am incident.
His body has yet to be recovered as it is believed to have been swept away by strong currents.
It is learnt that the five -- aged between 24 and 53 -- from Tikam Batu, Kedah, had spent the evening at a nightspot in Bukit Mertajam before the accident occurred.
Deputy Seberang Prai Utara police chief Superintendent Mohd Shukri Awang said initial investigations showed the group had partied at the nightspot after two of them had a windfall in a 4D draw.
Read more: A 4D windfall, then a death http://www.nst.com.my/nst/articles//14rakans/Article/#ixzz1ZQATWnOX
Alcoholic drinks and gambling are two very serious crimes in Islam and thus no one should even try to get near them. However there are many schemes that are not considered gambling but seems like gambling. I, personally consider that any scheme where you are entitled to get a substantial amount of money or can make huge monetary gains through a lucky draw should be regarded as gambling and there are many such schemes being run. Islamic scholars should study the issues of gambling very seriously and then alert Muslims to stay away from such practices.
BUTTERWORTH: An outing by five friends to celebrate their 4-digit winnings ended in tragedy when the car they were in plunged into the sea near the Bagan Dalam wharf early yesterday.
Four of them swam to safety, but the 24-year-old driver is believed to have drowned in the 12.45am incident.
His body has yet to be recovered as it is believed to have been swept away by strong currents.
It is learnt that the five -- aged between 24 and 53 -- from Tikam Batu, Kedah, had spent the evening at a nightspot in Bukit Mertajam before the accident occurred.
Deputy Seberang Prai Utara police chief Superintendent Mohd Shukri Awang said initial investigations showed the group had partied at the nightspot after two of them had a windfall in a 4D draw.
Read more: A 4D windfall, then a death http://www.nst.com.my/nst/articles//14rakans/Article/#ixzz1ZQATWnOX
Thursday, September 29, 2011
Retirement Income Using the 4% Rule
I recently stumbled on this rule and found out that the idea has been discussed in quite a lot of articles. This should be an area that actuarial science students can explore.
How much can I safely withdraw from my retirement funds?
Simple – use the 4% rule. This will give you a great chance of not running out of your money and it’s valid for 25+ year periods. If you are at an advanced life stage where 25 years is a dream then the 4% can be adjusted upwards.
The way the 4% rule works is that you start by taking 4% out of your portfolio in the first year – this includes dividends, interest, withdrawals. The next year you take out the same figure you took out the first year plus inflation. So if you start by taking $40,000 out and then inflation is 3% then the second year you take out $40,000 + 3% ($1200) = $41,200. Every year after that you adjust the previous year’s withdrawal amount by the inflation rate.
... Read more here and this article The 4% Rule—At What Price? by
Jason S. Scott, William F. Sharpe, and John G. Watson
April 2008
How much can I safely withdraw from my retirement funds?
Simple – use the 4% rule. This will give you a great chance of not running out of your money and it’s valid for 25+ year periods. If you are at an advanced life stage where 25 years is a dream then the 4% can be adjusted upwards.
The way the 4% rule works is that you start by taking 4% out of your portfolio in the first year – this includes dividends, interest, withdrawals. The next year you take out the same figure you took out the first year plus inflation. So if you start by taking $40,000 out and then inflation is 3% then the second year you take out $40,000 + 3% ($1200) = $41,200. Every year after that you adjust the previous year’s withdrawal amount by the inflation rate.
... Read more here and this article The 4% Rule—At What Price? by
Jason S. Scott, William F. Sharpe, and John G. Watson
April 2008
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