صور الصفحة
PDF
النشر الإلكتروني

AMOUNT OF ANNUAL PENSION SECURED FOR A PAYMENT OF $100 ON THE ORDINARY

PLAN, BY AGE AT TIME OF PURCHASE AND AGE AT MATURITY OF PENSION. (Source: Cassa Nazionale di Previdenza per la In validità e per la Vecchiaia degli Operal. Assicurazioni

Populari di Rendite Vitalizie Condizioni Generali e Tariife.]

Amount of annual pension secured for $100 when maturing at age of

Form of insurance

and age at time of purchase.

20 25 30 35 40 45 50 55 60 years. years. years. years. years. years. years. years. years.

65 70 years. years.

ALIENATED CAPITAL.

5 years.. 10 years. 15 years. 20 years. 25 years. 30 years. 35 years. 40 years. 45 years. 50 years. 55 years 60 years. 65 years.. 69 years.

$8.57 $10.91 $14. 02 $18.27 $24. 24 $32. 83 $45.81 $66.56 $102. 09 $168.90 $311. 70 7. 02 8. 95 11. 51 14. 99 19. 88 26. 94 37. 60 54. 63 83. 79 138. 03 255. 84 5. 80 7. 39 9. 50

12. 38 16. 41 22. 24 31. 05 45. 10 68. 17 114. 46 211. 22 6. 04 7. 77 10.12 13. 42 18. 18 25. 08 36. 87 56. 54 93. 55 172. 65 6. 31 8. 22 10. 91 14. 78 20. 62 29. 96 45.95 76. 02 140. 30 6. 68 8. 86 12. 01 16. 76 24. 35 37. 36 61. 80 114. 06 7. 20 9. 75 13. 61 19. 78 30. 34 50. 19 92. 63 7.89 11. 02 16. 01 24. 55 40. 03 74. 97 8. 85 12. 86 19. 73 32. 64 60. 23 10. 23 15. 69 25. 95 47. 89 12. 23 20. 24 37. 34 15. 32 28. 28

20. 49 15. 04

[ocr errors]
[ocr errors]
[ocr errors]
[merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][ocr errors][merged small][merged small][merged small][merged small][ocr errors][ocr errors][merged small]

A comparison of this tariff with the preceding estimates makes possible an approximate determination of the value of the subsidies. In the following table an effort is made to compute this value by comparing the value of the pension on the subsidized plan and on the ordinary plan, under the supposition of an annual premium of 12 lire ($2.32).

COMPARISON OF EXPECTED VALUES OF ANNUITIES UNDER THE DIFFERENT

FORMS OF INSURANCE, BY AGE AT TIME OF INSURING.

[blocks in formation]

The comparison shows that a very considerable proportion of the workmen's pension consists of the subsidies. This excess of the workmen's pension over an ordinary pension purchased at the same cost is higher for the reserved-capital plan than for the alienatedcapital plan. The reason for this is obvious, for in the workmen's pension on a reserved plan only his own payments are reserved, while the subsidies are given on an alienated plan. The difference between the values of pensions on the reserved and the alienated plans is not so great for the workmen's pension as for the ordinary pension, for the workmen's reserved-plan pension is only partly on a reserved plan. On an alienated plan, therefore, from one-third to almost one-half of the pension is due to the subsidies, and on the reserved plan from one half to two-thirds.

STATISTICS.

The statistical information concerning the old-age and invalidity insurance institution is very meager. In the following table is given the number of persons taking out insurance from the beginning of the activity of the institution in October, 1899, until the close of 1908.

The number of persons taking out insurance shows considerable fluctuations, but the largest numbers are found in the years 1902 and 1906, due to the influence of the amendments to the organic law. The total number of accounts opened during the years shown in the table equals nearly 300,000; according to the latest information available the total number of accounts opened up to November 30, 1910, reached 352,376; but, unfortunately, further details as to the distribution of these by sex, age, occupation, etc., are lacking.

For the years 1904 to 1908 the data are shown by the place where insurance was taken out-i. e., either the main and branch offices of the institution or the post-offices; and the table shows the very important function of the post-office as a stimulus to popular thrift. In some years more than one-half of the insurance was taken out at post-offices.

A comparison of the two plans of insurance indicates that they are about equally popular, both meeting existing demands. During the five years for which data are available, 1904 to 1908, the total number of policies issued on the mutual plan (alienated capital) was 84,903 and that of policies on the reserved capital plan 84,849— almost exactly equal.

NUMBER OF PERSONS INSURED EACH YEAR IN THE NATIONAL OLD-AGE AND INVALIDITY INSURANCE INSTITUTION, BY PLACE OF INSURANCE AND PLAN OF INSURANCE, 1899 TO 1908.

(Source: Bollettino dell'Ufficio del Lavoro, 1904 to 1909, and Die Arbeiter-Versicherung im Auslande,

Dr. Zacher.)

[blocks in formation]

Very interesting data concerning the size of the contributions of the membership were published by the old-age insurance institution in 1905, though unfortunately they refer only to the years 1900 to 1903, and no later comparable data were published; they nevertheless throw some light upon the activity of the fund.

67725°-VOL 2-11

-26

COMPARISON OF EXPECTED VALUES OF ANNUITIES UNDER THE DIFFERENT

FORMS OF INSURANCE, BY AGE AT TIME OF INSURING.

[blocks in formation]

The comparison shows that a very considerable proportion of the workmen's pension consists of the subsidies. This excess of the workmen's pension over an ordinary pension purchased at the same cost is higher for the reserved-capital plan than for the alienatedcapital plan. The reason for this is obvious, for in the workmen's pension on a reserved plan only his own payments are reserved, while the subsidies are given on an alienated plan. The difference between the values of pensions on the reserved and the alienated plans is not so great for the workmen's pension as for the ordinary pension, for the workmen's reserved-plan pension is only partly on a reserved plan. On an alienated plan, therefore, from one-third to almost one-half of the pension is due to the subsidies, and on the reserved plan from one half to two-thirds.

STATISTICS.

The statistical information concerning the old-age and invalidity insurance institution is very meager. In the following table is given the number of persons taking out insurance from the beginning of the activity of the institution in October, 1899, until the close of 1908.

The number of persons taking out insurance shows considerable fluctuations, but the largest numbers are found in the years 1902 and 1906, due to the influence of the amendments to the organic law. The total number of accounts opened during the years shown in the table equals nearly 300,000; according to the latest information available the total number of accounts opened up to November 30, 1910, reached 352,376; but, unfortunately, further details as to the distribution of these by sex, age, occupation, etc., are lacking.

For the years 1904 to 1908 the data are shown by the place where insurance was taken out-i. e., either the main and branch offices of the institution or the post-offices; and the table shows the very important function of the post-office as a stimulus to popular thrift. In some years more than one-half of the insurance was taken out at post-offices.

A comparison of the two plans of insurance indicates that they are about equally popular, both meeting existing demands. During the five years for which data are available, 1904 to 1908, the total number of policies issued on the mutual plan (alienated capital) was 84,903 and that of policies on the reserved capital plan 84,849– almost exactly equal.

NUMBER OF PERSONS INSURED EACH YEAR IN THE NATIONAL OLD-AGE AND INVALIDITY INSURANCE INSTITUTION, BY PLACE OF INSURANCE AND PLAN OF INSURANCE, 1899 TO 1908.

(Source: Bollettino dell'Ufficio del Lavoro, 1904 to 1909, and Die Arbeiter-Versicherung im Auslande,

Dr. Zacher.)

[blocks in formation]

Very interesting data concerning the size of the contributions of the membership were published by the old-age insurance institution in 1905, though unfortunately they refer only to the years 1900 to 1903, and no later comparable data were published; they nevertheless throw some light upon the activity of the fund.

67725°-VOL 2-11--26

« السابقةمتابعة »