110
arithmetical
7.
calculation.
The accuracy of the pension tables thus depends upon two factors, first the closeness of the approximation of the mortality experienced to that assumed in the mortality table adopted, and secondly the accuracy of the actuarial process by which the pension tables are deduced from the mortality table and the rules of the Fund. It may, I think, be assumed that the state of actuarial science is such that the latter factor may be neglected as a source of error when actuaries of high standing like Messrs Young and Ryan are employed. For practical purposes, therefore, the accuracy of the pension tables depends on how closely the mortality experienced by the Fund approximates to that embodied in the table of mortality.
877.
When the Hongkong Widows' and Orphans' Pension Fund was founded, there were