2. Expresses its appreciation for the assessment and views of the Consulting Actuary and the Committee of Actuaries on the results of the actuarial valuation as at 31 December 1997

The records were insufficient for an exact value of the loss to be calculated.

a Five year moving average market value, as adopted by the Pension Board for determining the actuarial value of the assets.

The Consulting Actuary stated further that a 15 per cent decline in the value of the equity component of the assets would result in approximately a 23.7 per cent required rate of contribution, after the decline had been fully reflected in the actuarial asset value, and assuming constancy until the next valuation in the market value of assets after the decline and in all other economic variables.

The Committee noted, however, that inflation rates continued to be low and the gains in the value of the assets of the Fund were not yet fully recognized in the actuarial asset value.

Actuarial value of accrued benefit entitlements

D. Accounting standards for actuarial valuations of the Fund . 103 105 24

C. Value of non budgeted contributions

quot reviewed the results of the actuarial valuation as of 31 December 1997, which was carried out by the Consulting Actuary.

Value of non budgeted contributions

The actuarial report will show required contributions and imbalances, an analysis of gains and losses, calculations of the actuarial value of accrued benefits, hypothetical projection results over 30 years and the results of monitoring of the two track system.

The crop prices used by Iran in calculating the value of lost crops are not appropriate for estimating the value of crops that were not, in fact, produced.

2. At its meetings in June 1998, the Committee of Actuaries reviewed the results of the actuarial valuation as at 31 December 1997, which was carried out by the Consulting Actuary.

The result of the actuarial valuation as at 31 December 2003 was an actuarial surplus of 1.14 per cent of pensionable remuneration.

The result of the actuarial valuation as of 31 December 2003 was an actuarial surplus of 1.14 per cent of pensionable remuneration.

31 December 1997 . 14 37 4

A. Actuarial valuation of the Fund as at 31 December 1997

quot the actuarial value of the assets exceeds the actuarial value of all accrued benefit entitlements under the Fund, based on our understanding of the Regulations of the Fund in effect on the valuation date.

We should do more to foster a Chinese spirit, Chinese values, and Chinese strength in order to provide a source of cultural and moral guidance for our people.

The Consulting Actuary submitted to the Board the report on the twenty fourth actuarial valuation of the Fund as at 31 December 1997 the previous valuation had been as at 31 December 1995 and its results had been reported to the General Assembly at its fifty first session in 1996.2 The Board also had before it the observations of the Committee of Actuaries, which had examined the valuation report prior to its submission to the Board.

As was done in the last five valuations, the actuarial value of the assets as at 31 December 1997 was determined on the basis of a five year moving market average method, subject to a limiting range of 15 per cent below and above the market value of the assets as at 31 December 1997.

6. As indicated in the table above, the actuarial value of assets exceeds the actuarial value of all accrued benefit entitlements under the Fund, based on our understanding of the Regulations of the Fund in effect on the valuation date.

Now, estimating odds, as difficult as it may seem, is a piece of cake compared to trying to estimate value trying to say what something is worth, how much we'll enjoy it, how much pleasure it will give us.

So here's another Einstein quote Not everything that can be counted counts, and not everything that counts can be counted.

What if I told you what it's worth to me in dollars and cents?

(a) Developing a global sisterhood of spiritual fellowship and shared values

Based on the results of the most recent actuarial valuation, the Committee of Actuaries and the Fund's Consulting Actuary were of the opinion that the present contribution rate of 23.70 per cent was sufficient to meet the benefit requirements under the Plan.

Written off Lost Quantity Inventory

During the first eight months of 2005, the Sudanese dinar appreciated by 17.5 per cent in real effective terms.

This interest will be compounded annually based on the unpaid value of the land.

Actuarial sufficiency of the Fund as at 31 December 1997

(e) To make use of the means to ensure respect for social, spiritual and moral values

Methods should be developed for assessing the value of unremunerated work outside national accounts.

(a) Preparation of an actuarial valuation to be performed in 2006, on the basis of data as at 31 December 2005, including production of the formal report and preparation of various papers for the Committee of Actuaries and United Nations Joint Staff Pension Board pertaining to the regular actuarial valuation work.

Creation of such a post would mitigate risk by improving the quality of the actuarial valuation and related projections, particularly in relation to demographic trends.

(f) Underline the intrinsic value of indigenous peoples' cultural heritage, including its social, cultural, spiritual, intellectual, scientific, ecological, technological, commercial and educational value

The value of assets held by a mission will depreciate over the period of their usage, resulting in a residual value which is calculated on the basis of United Nations depreciation scales, generally based on a reduction in value by a specific percentage per year.

In response to questions, the Consulting Actuary commented on the probable effect on the results of the next valuation if there were a further diminution in the number of active participants and if the market value of the assets were to decline.

Both the Consulting Actuary and the Committee of Actuaries pointed out an actuarial surplus or deficit, when expressed in dollar terms, should only be considered in relation to the magnitude of the liabilities and not in absolute terms.

The Secretary of the Board provided frequent updates on the liability profile of the Fund in addition, information on the actuarial valuations and the assumptions used therein was provided to the Investments Committee periodically by the Rapporteur of the Committee of Actuaries and the Fund apos s Consulting Actuary.

Article 12 of the Fund apos s Regulations provides that quot the Board shall have an actuarial valuation made of the Fund at least once every three years by the consulting actuary quot .1 The primary purpose of the actuarial valuation is to determine whether the present and estimated future assets of the Fund will be sufficient to meet its liabilities.

The total material release order processed increased by 70 per cent from 162 (valued 23.5 million) in 2002 03 budget year to 275 (valued 24.4 million) in 2003 04 budget year.

(c) The benefit may be commuted by the participant into a lump sum if the rate of the benefit at the normal retirement age is less than 300 dollars. Such commutation shall be equivalent to the full actuarial value of the benefit.

One is that we have a really hard time thinking in absolute terms.

When the election becomes effective, the benefit payable to the former participant shall be reduced in accordance with actuarial factors to be determined by the Fund s Consulting Actuary.