PVFBPresent Value of Future Benefits
PVFBPeterborough Volunteer Fire Brigade (UK)
References in periodicals archive ?
The expression for the PVFB for the death pension for someone retired due to disability ([PVFB.sup.(i)]) is a little more complex than the previous ones, since it requires two events to happen for the pension to be paid.
in which [S.sub.e+t] is the annual salary at age e + t, v is the financial discount factor, and a is the actuarially fair rate found to equate PVFC with all the PVFB presented.
The overall PVFB for individual [alpha] at work is the sum of all possible causes.
Because the member [gamma] on temporary leave might return to the original position, the PVFB of member [gamma] on temporary leave for cause j should be considered:
In addition, the PVFB of the retired member [beta] who has annuity benefit payments can be written as