CHART 1
Payment due in : (years from start}
Lump sum payments due in the period
Amount committed Discount factor
{Previous column
NPV
x 50%)
]{le_amount available for investment)
of interest on
on retirement
Investments
Hypothetical rate Value of investment
Surplus/(shortfall)
(ie value on retirement minus sum committed)
(HK$ 000)
(HK$000)
(HK$000)
1
200,000
100,000
0.9449
94,490
5.00%
99.215
(786)
1.5
200,000
100,000
0.9079
90,790
5.36%
108,147
8,147
2
200,000
100,000
0.8661
86,610
5.92%
112,190
12,190
2.5
200,000
100,000
0.8240
82,400
6.16%
116,119
16,119
3
300,000
150,000
0.7801
117,015
8.40%
180,683
30,683
3.5
300,000
150,000
0.7404
111,060
6.60%
187,604
37,604
4
300,000
150,000
0.7012
105,180
6.80%
195,153
45,153
4.5
300,000
150,000
0.8654
99,810
7.00%
203,385
53,385
5
400,000
200,000
0.6300
126,000
7.20%
283,142
83,142
5.5
400,000
200,000
0.6001
120,020
7.28%
294,288
94,288
6
400,000
200,000
0.5718
114,320
7.35%
306,085
106,085
6.5
400,000
200,000
0.5437
108,740
7.43%
318,577
118,577
7
500,000
250,000
0.5171
129,275
7.50%
414,762
164,762
7.5
500,000
250,000
0.4963
124.075
7.55%
431,537
181,537
B
500,000
250,000
0.4679
116,975
7.60%
449,198
199.198
8.5
500,000
250,000
0.4582
114,550
7.65%
487,799
217,799
9
600,000
300,000
0.4411
132,330
7.70%
584,874
284,874
9.5
600,000
300,000
0.4245
127,350
7.75%
609,657
309.657
10
600,000
300,000
0.4091
122,730
7.80%
635,783
335,783
15