Developing A Decision Support System For The West Australian Department Of Education Superannuation Fund

Worse case Scenario with 5% return
Years	2,018.00	2,019.00	2,020.00	2,021.00	2,022.00	2,023.00	2,024.00	2,025.00	2,026.00	2,027.00	2,028.00	2,029.00	2,030.00	2,031.00	2,032.00	2,033.00	2,034.00	2,035.00	2,036.00	2,037.00	2,038.00	2,039.00	2,040.00	2,041.00	2,042.00	2,043.00	2,044.00	2,045.00	2,046.00	2,047.00	2,048.00
Teacher’s salary	83,200.00	84,032.00	84,872.32	85,721.04	86,578.25	87,444.04	88,318.48	89,201.66	90,093.68	90,994.61	91,904.56	92,823.61	93,751.84	94,689.36	95,636.25	96,592.62	97,558.54	98,534.13	99,519.47	100,514.66	101,519.81	102,535.01	103,560.36	104,595.96	105,641.92	106,698.34
Contribution of the teacher’s in the super annuation fund (9.5% of the salary)	7,904.00	7,983.04	8,062.87	8,143.50	8,224.93	8,307.18	8,390.26	8,474.16	8,558.90	8,644.49	8,730.93	8,818.24	8,906.43	8,995.49	9,085.44	9,176.30	9,268.06	9,360.74	9,454.35	9,548.89	9,644.38	9,740.83	9,838.23	9,936.62	10,035.98	10,136.34
Employers’ contribution (2.5 times of above)	19,760.00	19,957.60	20,157.18	20,358.75	20,562.34	20,767.96	20,975.64	21,185.39	21,397.25	21,611.22	21,827.33	22,045.61	22,266.06	22,488.72	22,713.61	22,940.75	23,170.15	23,401.86	23,635.87	23,872.23	24,110.96	24,352.06	24,595.59	24,841.54	25,089.96	25,340.86
Combined contribution of teacher and State	27,664.00	27,940.64	28,220.05	28,502.25	28,787.27	29,075.14	29,365.89	29,659.55	29,956.15	30,255.71	30,558.27	30,863.85	31,172.49	31,484.21	31,799.05	32,117.05	32,438.22	32,762.60	33,090.22	33,421.13	33,755.34	34,092.89	34,433.82	34,778.16	35,125.94	35,477.20
Accumulated Contribution in superannuation fund	27,664.00	55,604.64	83,824.69	112,326.93	141,114.20	170,189.34	199,555.24	229,214.79	259,170.94	289,426.65	319,984.91	350,848.76	382,021.25	413,505.46	445,304.52	477,421.56	509,859.78	542,622.38	575,712.60	609,133.73	642,889.06	676,981.95	711,415.77	746,193.93	781,319.87	816,797.07
Return on investment @5%	1,383.20	2,849.39	4,402.86	6,048.12	7,789.89	9,633.14	11,583.09	13,645.22	15,825.29	18,129.34	20,563.72	23,135.10	25,850.48	28,717.22	31,743.03	34,936.03	38,304.75	41,858.11	45,605.53	49,556.86	53,722.47	58,113.24	62,740.59	67,616.53	72,753.66	78,165.20
Total accumulated interest	1,383.20	4,232.59	8,635.46	14,683.58	22,473.46	32,106.60	43,689.70	57,334.92	73,160.21	91,289.56	111,853.28	134,988.38	160,838.86	189,556.08	221,299.11	256,235.14	294,539.89	336,398.00	382,003.53	431,560.40	485,282.87	543,396.11	606,136.71	673,753.24	746,506.89	824,672.09
Total accumulated fund	29,047.20	59,837.23	92,460.14	127,010.51	163,587.67	202,295.95	243,244.93	286,549.71	332,331.15	380,716.21	431,838.20	485,837.15	542,860.12	603,061.54	666,603.63	733,656.71	804,399.67	879,020.38	957,716.14	1,040,694.12	1,128,171.93	1,220,378.07	1,317,552.48	1,419,947.17	1,527,826.76	1,641,469.16

Administration costs’ present value
Years	2,018.00	2,019.00	2,020.00	2,021.00	2,022.00	2,023.00	2,024.00	2,025.00	2,026.00	2,027.00	2,028.00	2,029.00	2,030.00	2,031.00	2,032.00	2,033.00	2,034.00	2,035.00	2,036.00	2,037.00	2,038.00	2,039.00	2,040.00	2,041.00	2,042.00	2,043.00	2,044.00	2,045.00	2,046.00	2,047.00	2,048.00	Total
Annual administration costs	4,669,000,000.00	4,715,690,000.00	4,762,846,900.00	4,810,475,369.00	4,858,580,122.69	4,907,165,923.92	4,956,237,583.16	5,005,799,958.99	5,055,857,958.58	5,106,416,538.16	5,157,480,703.54	5,209,055,510.58	5,261,146,065.69	5,313,757,526.34	5,366,895,101.61	5,420,564,052.62	5,474,769,693.15	5,529,517,390.08	5,584,812,563.98	5,640,660,689.62	5,697,067,296.52	5,754,037,969.48	5,811,578,349.18	5,869,694,132.67	5,928,391,074.00	5,987,674,984.74	6,047,551,734.58	6,108,027,251.93	6,169,107,524.45	6,230,798,599.69	6,293,106,585.69
PV factor @12%	1.00	0.89	0.80	0.71	0.64	0.57	0.51	0.45	0.40	0.36	0.32	0.29	0.26	0.23	0.20	0.18	0.16	0.15	0.13	0.12	0.10	0.09	0.08	0.07	0.07	0.06	0.05	0.05	0.04	0.04	0.03
Present value of costs	4,669,000,000.00	4,210,437,500.00	3,796,912,388.39	3,424,001,350.25	3,087,715,503.35	2,784,457,730.70	2,510,984,203.58	2,264,369,683.58	2,041,976,232.52	1,841,424,995.39	1,660,570,754.77	1,497,478,984.22	1,350,405,155.41	1,217,776,077.65	1,098,173,070.02	990,316,786.36	893,053,530.55	805,342,915.95	726,246,736.70	654,918,932.20	590,596,537.08	532,591,520.04	480,283,424.32	433,112,730.86	390,574,873.37	352,214,841.16	317,622,312.12	286,427,263.61	258,296,014.50	232,927,655.94	210,050,832.59	45,610,260,537.17
Note 1: Present value of retirement pension
Years	2,018.00	2,019.00	2,020.00	2,021.00	2,022.00	2,023.00	2,024.00	2,025.00	2,026.00	2,027.00	2,028.00	2,029.00	2,030.00	2,031.00	2,032.00	2,033.00	2,034.00	2,035.00	2,036.00	2,037.00	2,038.00	2,039.00	2,040.00	2,041.00	2,042.00	2,043.00	2,044.00	2,045.00	2,046.00	2,047.00	2,048.00	Total
Salary in 2018 for pension purpose	96,975.00
Pension of teacher (Salary x 2.4% x 25)	58,185.00	58,185.00	58,185.00	58,185.00	58,185.00	58,185.00	58,185.00	58,185.00	58,185.00	58,185.00	58,185.00	58,185.00	58,185.00	58,185.00	58,185.00	58,185.00	58,185.00	58,185.00	58,185.00	58,185.00	58,185.00	58,185.00	58,185.00	58,185.00	58,185.00	58,185.00	58,185.00	58,185.00	58,185.00	58,185.00	58,185.00
Factor to be used to adjust inflation	1.00	1.03	1.06	1.09	1.13	1.16	1.19	1.23	1.27	1.30	1.34	1.38	1.43	1.47	1.51	1.56	1.60	1.65	1.70	1.75	1.81	1.86	1.92	1.97	2.03	2.09	2.16	2.22	2.29	2.36	2.43
Pension of teacher after adjustig inflation each year	58,185.00	59,930.55	61,728.47	63,580.32	65,487.73	67,452.36	69,475.93	71,560.21	73,707.02	75,918.23	78,195.77	80,541.65	82,957.90	85,446.63	88,010.03	90,650.33	93,369.84	96,170.94	99,056.07	102,027.75	105,088.58	108,241.24	111,488.48	114,833.13	118,278.13	121,826.47	125,481.26	129,245.70	133,123.07	137,116.76	141,230.27
12% present value factor with the factor is closer to 12% pa	1.00	0.89	0.80	0.71	0.64	0.57	0.51	0.45	0.40	0.36	0.32	0.29	0.26	0.23	0.20	0.18	0.16	0.15	0.13	0.12	0.10	0.09	0.08	0.07	0.07	0.06	0.05	0.05	0.04	0.04	0.03
Present value of obligation	58,185.00	53,509.42	49,209.56	45,255.22	41,618.64	38,274.28	35,198.67	32,370.21	29,769.03	27,376.87	25,176.95	23,153.80	21,293.23	19,582.16	18,008.60	16,561.48	15,230.64	14,006.75	12,881.21	11,846.11	10,894.19	10,018.77	9,213.69	8,473.30	7,792.41	7,166.24	6,590.38	6,060.79	5,573.77	5,125.87	4,713.97	611,946.20

Years	2,018.00	2,019.00	2,020.00	2,021.00	2,022.00	2,023.00	2,024.00	2,025.00	2,026.00	2,027.00	2,028.00	2,029.00	2,030.00	2,031.00	2,032.00	2,033.00	2,034.00	2,035.00	2,036.00	2,037.00	2,038.00	2,039.00	2,040.00	2,041.00	2,042.00	2,043.00	2,044.00	2,045.00	2,046.00	2,047.00	2,048.00	Total
Total teachers in 2018	47,433.00
Teachers retired in 2018 and to retire in future	3,786.00	1,897.32	1,897.32	1,897.32	1,897.32	1,897.32	1,897.32	1,897.32	1,897.32	1,897.32	1,897.32	1,897.32	1,897.32	1,897.32	1,897.32	1,897.32	1,897.32	1,897.32	1,897.32	1,897.32	1,897.32	1,897.32	1,897.32	1,897.32	1,897.32	1,897.32	1,897.32	1,897.32	1,897.32	1,897.32	1,897.32
Expected number ofteachers to pass away each year (% of retired eachers)	189.30	94.87	94.87	94.87	94.87	94.87	94.87	94.87	94.87	94.87	94.87	94.87	94.87	94.87	94.87	94.87	94.87	94.87	94.87	94.87	94.87	94.87	94.87	94.87	94.87	94.87	94.87	94.87	94.87	94.87	94.87
Cumulative number of teachers retired	3,596.70	5,399.15	7,201.61	9,004.06	10,806.52	12,608.97	14,411.42	16,213.88	18,016.33	19,818.79	21,621.24	23,423.69	25,226.15	27,028.60	28,831.06	30,633.51	32,435.96	34,238.42	36,040.87	37,843.33	39,645.78	41,448.23	43,250.69	45,053.14	46,855.60	48,658.05	50,460.50	52,262.96	54,065.41	55,867.87	57,670.32
Present value of obligation of retiremnet pension of each teacher (Note 1)	58,185.00	53,509.42	49,209.56	45,255.22	41,618.64	38,274.28	35,198.67	32,370.21	29,769.03	27,376.87	25,176.95	23,153.80	21,293.23	19,582.16	18,008.60	16,561.48	15,230.64	14,006.75	12,881.21	11,846.11	10,894.19	10,018.77	9,213.69	8,473.30	7,792.41	7,166.24	6,590.38	6,060.79	5,573.77	5,125.87	4,713.97
Total obligation (E x F)	209,273,989.50	288,905,597.10	354,387,929.03	407,480,773.19	449,752,460.14	482,599,269.57	507,262,954.24	524,846,558.46	536,328,692.23	542,576,406.91	544,356,805.20	542,347,505.48	537,146,069.83	529,278,494.71	519,206,853.87	507,336,175.24	494,020,625.19	479,569,067.39	464,250,056.61	448,296,322.56	431,908,793.33	415,260,203.57	398,498,328.16	381,748,878.16	365,118,092.58	348,695,056.10	332,553,769.94	316,755,000.79	301,347,929.92	286,371,622.75	271,856,337.01	13,219,336,618.77
Details	Amount ($)	Amount ($)
Accumulated fund of a single teacher in spuerannuatio fund during his or her working life		1,641,469.16
Total number of teachers		47,433.00
Total available fund to meet the superannuation obligations		77,859,806,748.26
Obligation for total costs ( Note 2)	74,636,704,488.62
Present value of annual retirment obligation ( Note 3)	13,219,336,618.77
		87,856,041,107.39
Net present value		(9,996,234,359.12)
Note 2
Particulars	Amount ($)
Present value of obligation towards meeting the superannuation requirement of a teacher (A)	611,946.20
Total number of teachers (B)	47,433.00
Expected total obligation (A x B)	29,026,443,951.45
Adminsitartive costs present value	45,610,260,537.17
Obligation for total costs	74,636,704,488.62

Worse case Scenario with 6% return
Years	2,018.00	2,019.00	2,020.00	2,021.00	2,022.00	2,023.00	2,024.00	2,025.00	2,026.00	2,027.00	2,028.00	2,029.00	2,030.00	2,031.00	2,032.00	2,033.00	2,034.00	2,035.00	2,036.00	2,037.00	2,038.00	2,039.00	2,040.00	2,041.00	2,042.00	2,043.00	2,044.00	2,045.00	2,046.00	2,047.00	2,048.00
Teacher’s salary	83,200.00	84,032.00	84,872.32	85,721.04	86,578.25	87,444.04	88,318.48	89,201.66	90,093.68	90,994.61	91,904.56	92,823.61	93,751.84	94,689.36	95,636.25	96,592.62	97,558.54	98,534.13	99,519.47	100,514.66	101,519.81	102,535.01	103,560.36	104,595.96	105,641.92	106,698.34
Contribution of the teacher’s in the super annuation fund (9.5% of the salary)	7,904.00	7,983.04	8,062.87	8,143.50	8,224.93	8,307.18	8,390.26	8,474.16	8,558.90	8,644.49	8,730.93	8,818.24	8,906.43	8,995.49	9,085.44	9,176.30	9,268.06	9,360.74	9,454.35	9,548.89	9,644.38	9,740.83	9,838.23	9,936.62	10,035.98	10,136.34
Employers’ contribution (2.5 times of above)	19,760.00	19,957.60	20,157.18	20,358.75	20,562.34	20,767.96	20,975.64	21,185.39	21,397.25	21,611.22	21,827.33	22,045.61	22,266.06	22,488.72	22,713.61	22,940.75	23,170.15	23,401.86	23,635.87	23,872.23	24,110.96	24,352.06	24,595.59	24,841.54	25,089.96	25,340.86
Combined contribution of teacher and State	27,664.00	27,940.64	28,220.05	28,502.25	28,787.27	29,075.14	29,365.89	29,659.55	29,956.15	30,255.71	30,558.27	30,863.85	31,172.49	31,484.21	31,799.05	32,117.05	32,438.22	32,762.60	33,090.22	33,421.13	33,755.34	34,092.89	34,433.82	34,778.16	35,125.94	35,477.20
Accumulated Contribution in superannuation fund	27,664.00	55,604.64	83,824.69	112,326.93	141,114.20	170,189.34	199,555.24	229,214.79	259,170.94	289,426.65	319,984.91	350,848.76	382,021.25	413,505.46	445,304.52	477,421.56	509,859.78	542,622.38	575,712.60	609,133.73	642,889.06	676,981.95	711,415.77	746,193.93	781,319.87	816,797.07
Return on investment @6%	1,659.84	3,435.87	5,335.22	7,365.47	9,534.64	11,851.22	14,324.25	16,963.28	19,778.44	22,780.49	25,980.82	29,391.50	33,025.34	36,895.91	41,017.61	45,405.69	50,076.32	55,046.66	60,334.87	65,960.23	71,943.16	78,305.33	85,069.68	92,260.55	99,903.74	108,026.59
Total accumulated interest	1,659.84	5,095.71	10,430.93	17,796.40	27,331.04	39,182.26	53,506.51	70,469.79	90,248.24	113,028.73	139,009.55	168,401.05	201,426.38	238,322.30	279,339.90	324,745.59	374,821.91	429,868.57	490,203.44	556,163.67	628,106.84	706,412.16	791,481.84	883,742.39	983,646.12	1,091,672.71
Total accumulated fund	29,323.84	60,700.35	94,255.62	130,123.34	168,445.24	209,371.61	253,061.75	299,684.58	349,419.17	402,455.38	458,994.46	519,249.81	583,447.64	651,827.76	724,644.42	802,167.16	884,681.69	972,490.95	1,065,916.04	1,165,297.40	1,270,995.90	1,383,394.12	1,502,897.61	1,629,936.32	1,764,965.99	1,908,469.78
Administration costs’ present value
Years	2,018.00	2,019.00	2,020.00	2,021.00	2,022.00	2,023.00	2,024.00	2,025.00	2,026.00	2,027.00	2,028.00	2,029.00	2,030.00	2,031.00	2,032.00	2,033.00	2,034.00	2,035.00	2,036.00	2,037.00	2,038.00	2,039.00	2,040.00	2,041.00	2,042.00	2,043.00	2,044.00	2,045.00	2,046.00	2,047.00	2,048.00	Total
Annual administration costs	4,669,000,000.00	4,715,690,000.00	4,762,846,900.00	4,810,475,369.00	4,858,580,122.69	4,907,165,923.92	4,956,237,583.16	5,005,799,958.99	5,055,857,958.58	5,106,416,538.16	5,157,480,703.54	5,209,055,510.58	5,261,146,065.69	5,313,757,526.34	5,366,895,101.61	5,420,564,052.62	5,474,769,693.15	5,529,517,390.08	5,584,812,563.98	5,640,660,689.62	5,697,067,296.52	5,754,037,969.48	5,811,578,349.18	5,869,694,132.67	5,928,391,074.00	5,987,674,984.74	6,047,551,734.58	6,108,027,251.93	6,169,107,524.45	6,230,798,599.69	6,293,106,585.69
PV factor @12%	1.00	0.89	0.80	0.71	0.64	0.57	0.51	0.45	0.40	0.36	0.32	0.29	0.26	0.23	0.20	0.18	0.16	0.15	0.13	0.12	0.10	0.09	0.08	0.07	0.07	0.06	0.05	0.05	0.04	0.04	0.03
Present value of costs	4,669,000,000.00	4,210,437,500.00	3,796,912,388.39	3,424,001,350.25	3,087,715,503.35	2,784,457,730.70	2,510,984,203.58	2,264,369,683.58	2,041,976,232.52	1,841,424,995.39	1,660,570,754.77	1,497,478,984.22	1,350,405,155.41	1,217,776,077.65	1,098,173,070.02	990,316,786.36	893,053,530.55	805,342,915.95	726,246,736.70	654,918,932.20	590,596,537.08	532,591,520.04	480,283,424.32	433,112,730.86	390,574,873.37	352,214,841.16	317,622,312.12	286,427,263.61	258,296,014.50	232,927,655.94	210,050,832.59	45,610,260,537.17
Note 1: Present value of retirement pension
Years	2,018.00	2,019.00	2,020.00	2,021.00	2,022.00	2,023.00	2,024.00	2,025.00	2,026.00	2,027.00	2,028.00	2,029.00	2,030.00	2,031.00	2,032.00	2,033.00	2,034.00	2,035.00	2,036.00	2,037.00	2,038.00	2,039.00	2,040.00	2,041.00	2,042.00	2,043.00	2,044.00	2,045.00	2,046.00	2,047.00	2,048.00	Total
Salary in 2018 for pension purpose	96,975.00
Pension of teacher (Salary x 2.4% x 25)	58,185.00	58,185.00	58,185.00	58,185.00	58,185.00	58,185.00	58,185.00	58,185.00	58,185.00	58,185.00	58,185.00	58,185.00	58,185.00	58,185.00	58,185.00	58,185.00	58,185.00	58,185.00	58,185.00	58,185.00	58,185.00	58,185.00	58,185.00	58,185.00	58,185.00	58,185.00	58,185.00	58,185.00	58,185.00	58,185.00	58,185.00
Factor to be used to adjust inflation	1.00	1.03	1.06	1.09	1.13	1.16	1.19	1.23	1.27	1.30	1.34	1.38	1.43	1.47	1.51	1.56	1.60	1.65	1.70	1.75	1.81	1.86	1.92	1.97	2.03	2.09	2.16	2.22	2.29	2.36	2.43
Pension of teacher after adjustig inflation each year	58,185.00	59,930.55	61,728.47	63,580.32	65,487.73	67,452.36	69,475.93	71,560.21	73,707.02	75,918.23	78,195.77	80,541.65	82,957.90	85,446.63	88,010.03	90,650.33	93,369.84	96,170.94	99,056.07	102,027.75	105,088.58	108,241.24	111,488.48	114,833.13	118,278.13	121,826.47	125,481.26	129,245.70	133,123.07	137,116.76	141,230.27
12% present value factor with the factor is closer to 12% pa	1.00	0.89	0.80	0.71	0.64	0.57	0.51	0.45	0.40	0.36	0.32	0.29	0.26	0.23	0.20	0.18	0.16	0.15	0.13	0.12	0.10	0.09	0.08	0.07	0.07	0.06	0.05	0.05	0.04	0.04	0.03
Present value of obligation	58,185.00	53,509.42	49,209.56	45,255.22	41,618.64	38,274.28	35,198.67	32,370.21	29,769.03	27,376.87	25,176.95	23,153.80	21,293.23	19,582.16	18,008.60	16,561.48	15,230.64	14,006.75	12,881.21	11,846.11	10,894.19	10,018.77	9,213.69	8,473.30	7,792.41	7,166.24	6,590.38	6,060.79	5,573.77	5,125.87	4,713.97	611,946.20
Years	2,018.00	2,019.00	2,020.00	2,021.00	2,022.00	2,023.00	2,024.00	2,025.00	2,026.00	2,027.00	2,028.00	2,029.00	2,030.00	2,031.00	2,032.00	2,033.00	2,034.00	2,035.00	2,036.00	2,037.00	2,038.00	2,039.00	2,040.00	2,041.00	2,042.00	2,043.00	2,044.00	2,045.00	2,046.00	2,047.00	2,048.00	Total
Total teachers in 2018	47,433.00
Teachers retired in 2018 and to retire in future	3,786.00	1,897.32	1,897.32	1,897.32	1,897.32	1,897.32	1,897.32	1,897.32	1,897.32	1,897.32	1,897.32	1,897.32	1,897.32	1,897.32	1,897.32	1,897.32	1,897.32	1,897.32	1,897.32	1,897.32	1,897.32	1,897.32	1,897.32	1,897.32	1,897.32	1,897.32	1,897.32	1,897.32	1,897.32	1,897.32	1,897.32
Expected number ofteachers to pass away each year (% of retired eachers)	189.30	94.87	94.87	94.87	94.87	94.87	94.87	94.87	94.87	94.87	94.87	94.87	94.87	94.87	94.87	94.87	94.87	94.87	94.87	94.87	94.87	94.87	94.87	94.87	94.87	94.87	94.87	94.87	94.87	94.87	94.87
Cumulative number of teachers retired	3,596.70	5,399.15	7,201.61	9,004.06	10,806.52	12,608.97	14,411.42	16,213.88	18,016.33	19,818.79	21,621.24	23,423.69	25,226.15	27,028.60	28,831.06	30,633.51	32,435.96	34,238.42	36,040.87	37,843.33	39,645.78	41,448.23	43,250.69	45,053.14	46,855.60	48,658.05	50,460.50	52,262.96	54,065.41	55,867.87	57,670.32
Present value of obligation of retiremnet pension of each teacher (Note 1)	58,185.00	53,509.42	49,209.56	45,255.22	41,618.64	38,274.28	35,198.67	32,370.21	29,769.03	27,376.87	25,176.95	23,153.80	21,293.23	19,582.16	18,008.60	16,561.48	15,230.64	14,006.75	12,881.21	11,846.11	10,894.19	10,018.77	9,213.69	8,473.30	7,792.41	7,166.24	6,590.38	6,060.79	5,573.77	5,125.87	4,713.97
Total obligation (E x F)	209,273,989.50	288,905,597.10	354,387,929.03	407,480,773.19	449,752,460.14	482,599,269.57	507,262,954.24	524,846,558.46	536,328,692.23	542,576,406.91	544,356,805.20	542,347,505.48	537,146,069.83	529,278,494.71	519,206,853.87	507,336,175.24	494,020,625.19	479,569,067.39	464,250,056.61	448,296,322.56	431,908,793.33	415,260,203.57	398,498,328.16	381,748,878.16	365,118,092.58	348,695,056.10	332,553,769.94	316,755,000.79	301,347,929.92	286,371,622.75	271,856,337.01	13,219,336,618.77
Details	Amount ($)	Amount ($)
Accumulated fund of a single teacher in spuerannuatio fund during his or her working life		1,908,469.78
Total number of teachers		47,433.00
Total available fund to meet the superannuation obligations		90,524,447,230.83
Obligation for total costs ( Note 2)	74,636,704,488.62
Present value of annual retirment obligation ( Note 3)	13,219,336,618.77
Net present value		2,668,406,123.44
Note 2
Particulars	Amount ($)
Present value of obligation towards meeting the superannuation requirement of a teacher (A)	611,946.20
Total number of teachers (B)	47,433.00
Expected total obligation (A x B)	29,026,443,951.45
Adminsitartive costs present value	45,610,260,537.17
Obligation for total costs	74,636,704,488.62

8% return on investment and no cost of inflation adjustmnet with retirement pension
Years	2,018.00	2,019.00	2,020.00	2,021.00	2,022.00	2,023.00	2,024.00	2,025.00	2,026.00	2,027.00	2,028.00	2,029.00	2,030.00	2,031.00	2,032.00	2,033.00	2,034.00	2,035.00	2,036.00	2,037.00	2,038.00	2,039.00	2,040.00	2,041.00	2,042.00	2,043.00	2,044.00	2,045.00	2,046.00	2,047.00	2,048.00
Teacher’s salary	83,200.00	84,032.00	84,872.32	85,721.04	86,578.25	87,444.04	88,318.48	89,201.66	90,093.68	90,994.61	91,904.56	92,823.61	93,751.84	94,689.36	95,636.25	96,592.62	97,558.54	98,534.13	99,519.47	100,514.66	101,519.81	102,535.01	103,560.36	104,595.96	105,641.92	106,698.34
Contribution of the teacher’s in the super annuation fund (9.5% of the salary)	7,904.00	7,983.04	8,062.87	8,143.50	8,224.93	8,307.18	8,390.26	8,474.16	8,558.90	8,644.49	8,730.93	8,818.24	8,906.43	8,995.49	9,085.44	9,176.30	9,268.06	9,360.74	9,454.35	9,548.89	9,644.38	9,740.83	9,838.23	9,936.62	10,035.98	10,136.34
Employers’ contribution (2.5 times of above)	19,760.00	19,957.60	20,157.18	20,358.75	20,562.34	20,767.96	20,975.64	21,185.39	21,397.25	21,611.22	21,827.33	22,045.61	22,266.06	22,488.72	22,713.61	22,940.75	23,170.15	23,401.86	23,635.87	23,872.23	24,110.96	24,352.06	24,595.59	24,841.54	25,089.96	25,340.86
Combined contribution of teacher and State	27,664.00	27,940.64	28,220.05	28,502.25	28,787.27	29,075.14	29,365.89	29,659.55	29,956.15	30,255.71	30,558.27	30,863.85	31,172.49	31,484.21	31,799.05	32,117.05	32,438.22	32,762.60	33,090.22	33,421.13	33,755.34	34,092.89	34,433.82	34,778.16	35,125.94	35,477.20
Accumulated Contribution in superannuation fund	27,664.00	55,604.64	83,824.69	112,326.93	141,114.20	170,189.34	199,555.24	229,214.79	259,170.94	289,426.65	319,984.91	350,848.76	382,021.25	413,505.46	445,304.52	477,421.56	509,859.78	542,622.38	575,712.60	609,133.73	642,889.06	676,981.95	711,415.77	746,193.93	781,319.87	816,797.07
Return on investment @7.5%	2,213.12	4,625.42	7,253.06	10,113.48	13,225.54	16,609.60	20,287.64	24,283.41	28,622.58	33,332.84	38,444.13	43,988.77	50,001.67	56,520.54	63,586.10	71,242.36	79,536.80	88,520.75	98,249.63	108,783.29	120,186.38	132,528.73	145,885.73	160,338.84	175,976.02	192,892.28
Total accumulated interest	2,213.12	6,838.54	14,091.60	24,205.08	37,430.62	54,040.22	74,327.86	98,611.27	127,233.85	160,566.69	199,010.81	242,999.58	293,001.25	349,521.78	413,107.89	484,350.25	563,887.05	652,407.80	750,657.43	859,440.73	979,627.11	1,112,155.83	1,258,041.56	1,418,380.40	1,594,356.42	1,787,248.70
Total accumulated fund	29,877.12	62,443.18	97,916.29	136,532.01	178,544.83	224,229.57	273,883.10	327,826.06	386,404.79	449,993.33	518,995.73	593,848.34	675,022.50	763,027.25	858,412.41	961,771.81	1,073,746.83	1,195,030.18	1,326,370.03	1,468,574.45	1,622,516.17	1,789,137.79	1,969,457.34	2,164,574.33	2,375,676.29	2,604,045.77
Administration costs’ present value
Years	2,018.00	2,019.00	2,020.00	2,021.00	2,022.00	2,023.00	2,024.00	2,025.00	2,026.00	2,027.00	2,028.00	2,029.00	2,030.00	2,031.00	2,032.00	2,033.00	2,034.00	2,035.00	2,036.00	2,037.00	2,038.00	2,039.00	2,040.00	2,041.00	2,042.00	2,043.00	2,044.00	2,045.00	2,046.00	2,047.00	2,048.00	Total
Annual administration costs	4,669,000,000.00	4,715,690,000.00	4,762,846,900.00	4,810,475,369.00	4,858,580,122.69	4,907,165,923.92	4,956,237,583.16	5,005,799,958.99	5,055,857,958.58	5,106,416,538.16	5,157,480,703.54	5,209,055,510.58	5,261,146,065.69	5,313,757,526.34	5,366,895,101.61	5,420,564,052.62	5,474,769,693.15	5,529,517,390.08	5,584,812,563.98	5,640,660,689.62	5,697,067,296.52	5,754,037,969.48	5,811,578,349.18	5,869,694,132.67	5,928,391,074.00	5,987,674,984.74	6,047,551,734.58	6,108,027,251.93	6,169,107,524.45	6,230,798,599.69	6,293,106,585.69
PV factor @12%	1.00	0.89	0.80	0.71	0.64	0.57	0.51	0.45	0.40	0.36	0.32	0.29	0.26	0.23	0.20	0.18	0.16	0.15	0.13	0.12	0.10	0.09	0.08	0.07	0.07	0.06	0.05	0.05	0.04	0.04	0.03
Present value of costs	4,669,000,000.00	4,210,437,500.00	3,796,912,388.39	3,424,001,350.25	3,087,715,503.35	2,784,457,730.70	2,510,984,203.58	2,264,369,683.58	2,041,976,232.52	1,841,424,995.39	1,660,570,754.77	1,497,478,984.22	1,350,405,155.41	1,217,776,077.65	1,098,173,070.02	990,316,786.36	893,053,530.55	805,342,915.95	726,246,736.70	654,918,932.20	590,596,537.08	532,591,520.04	480,283,424.32	433,112,730.86	390,574,873.37	352,214,841.16	317,622,312.12	286,427,263.61	258,296,014.50	232,927,655.94	210,050,832.59	45,610,260,537.17
Note 1: Present value of retirement pension
Years	2,018.00	2,019.00	2,020.00	2,021.00	2,022.00	2,023.00	2,024.00	2,025.00	2,026.00	2,027.00	2,028.00	2,029.00	2,030.00	2,031.00	2,032.00	2,033.00	2,034.00	2,035.00	2,036.00	2,037.00	2,038.00	2,039.00	2,040.00	2,041.00	2,042.00	2,043.00	2,044.00	2,045.00	2,046.00	2,047.00	2,048.00	Total
Salary in 2018 for pension purpose (96975 -2000)	94,975.00
Pension of teacher (Salary x 2.4% x 25)	56,985.00	56,985.00	56,985.00	56,985.00	56,985.00	56,985.00	56,985.00	56,985.00	56,985.00	56,985.00	56,985.00	56,985.00	56,985.00	56,985.00	56,985.00	56,985.00	56,985.00	56,985.00	56,985.00	56,985.00	56,985.00	56,985.00	56,985.00	56,985.00	56,985.00	56,985.00	56,985.00	56,985.00	56,985.00	56,985.00	56,985.00
Factor to be used to adjust inflation	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00
Pension of teacher after adjustig inflation each year	56,985.00	56,985.00	56,985.00	56,985.00	56,985.00	56,985.00	56,985.00	56,985.00	56,985.00	56,985.00	56,985.00	56,985.00	56,985.00	56,985.00	56,985.00	56,985.00	56,985.00	56,985.00	56,985.00	56,985.00	56,985.00	56,985.00	56,985.00	56,985.00	56,985.00	56,985.00	56,985.00	56,985.00	56,985.00	56,985.00	56,985.00
12% present value factor with the factor is closer to 12% pa	1.00	0.89	0.80	0.71	0.64	0.57	0.51	0.45	0.40	0.36	0.32	0.29	0.26	0.23	0.20	0.18	0.16	0.15	0.13	0.12	0.10	0.09	0.08	0.07	0.07	0.06	0.05	0.05	0.04	0.04	0.03
Present value of obligation	56,985.00	50,879.46	45,428.09	40,560.80	36,215.00	32,334.82	28,870.37	25,777.12	23,015.29	20,549.36	18,347.64	16,381.83	14,626.63	13,059.49	11,660.26	10,410.95	9,295.49	8,299.54	7,410.31	6,616.34	5,907.45	5,274.51	4,709.38	4,204.81	3,754.29	3,352.05	2,992.90	2,672.23	2,385.92	2,130.29	1,902.04	459,024.66
Years	2,018.00	2,019.00	2,020.00	2,021.00	2,022.00	2,023.00	2,024.00	2,025.00	2,026.00	2,027.00	2,028.00	2,029.00	2,030.00	2,031.00	2,032.00	2,033.00	2,034.00	2,035.00	2,036.00	2,037.00	2,038.00	2,039.00	2,040.00	2,041.00	2,042.00	2,043.00	2,044.00	2,045.00	2,046.00	2,047.00	2,048.00	Total
Total teachers in 2018	47,433.00
Teachers retired in 2018 and to retire in future	3,786.00	1,897.32	1,897.32	1,897.32	1,897.32	1,897.32	1,897.32	1,897.32	1,897.32	1,897.32	1,897.32	1,897.32	1,897.32	1,897.32	1,897.32	1,897.32	1,897.32	1,897.32	1,897.32	1,897.32	1,897.32	1,897.32	1,897.32	1,897.32	1,897.32	1,897.32	1,897.32	1,897.32	1,897.32	1,897.32	1,897.32
Expected number ofteachers to pass away each year (% of retired eachers)	189.30	94.87	94.87	94.87	94.87	94.87	94.87	94.87	94.87	94.87	94.87	94.87	94.87	94.87	94.87	94.87	94.87	94.87	94.87	94.87	94.87	94.87	94.87	94.87	94.87	94.87	94.87	94.87	94.87	94.87	94.87
Cumulative number of teachers retired	3,596.70	5,399.15	7,201.61	9,004.06	10,806.52	12,608.97	14,411.42	16,213.88	18,016.33	19,818.79	21,621.24	23,423.69	25,226.15	27,028.60	28,831.06	30,633.51	32,435.96	34,238.42	36,040.87	37,843.33	39,645.78	41,448.23	43,250.69	45,053.14	46,855.60	48,658.05	50,460.50	52,262.96	54,065.41	55,867.87	57,670.32
Present value of obligation of retiremnet pension of each teacher (Note 1)	56,985.00	50,879.46	45,428.09	40,560.80	36,215.00	32,334.82	28,870.37	25,777.12	23,015.29	20,549.36	18,347.64	16,381.83	14,626.63	13,059.49	11,660.26	10,410.95	9,295.49	8,299.54	7,410.31	6,616.34	5,907.45	5,274.51	4,709.38	4,204.81	3,754.29	3,352.05	2,992.90	2,672.23	2,385.92	2,130.29	1,902.04
Total obligation (E x F)	204,957,949.50	274,706,063.12	327,155,318.78	365,211,934.75	391,357,952.06	407,708,767.43	416,063,207.10	417,947,079.45	414,651,029.08	407,263,413.34	396,698,833.54	383,722,874.51	368,973,537.45	352,979,790.63	336,177,609.67	318,923,832.13	301,508,110.89	284,163,214.50	267,073,891.57	250,384,488.70	234,205,487.17	218,619,102.81	203,684,074.56	189,439,751.44	175,909,573.23	163,104,027.90	151,023,157.89	139,658,678.08	128,995,759.73	119,014,527.84	109,691,312.68	8,720,974,351.53
Details	Amount ($)	Amount ($)
Accumulated fund of a single teacher in spuerannuatio fund during his or her working life		2,604,045.77
Total number of teachers		47,433.00
Total available fund to meet the superannuation obligations		123,517,703,158.70
Obligation for total costs ( Note 2)	67,383,177,158.94
Present value of annual retirment obligation ( Note 3)	8,720,974,351.53
Net present value		47,413,551,648.22
Note 2
Particulars	Amount ($)
Present value of obligation towards meeting the superannuation requirement of a teacher (A)	459,024.66
Total number of teachers (B)	47,433.00
Expected total obligation (A x B)	21,772,916,621.77
Adminsitartive costs present value	45,610,260,537.17
Obligation for total costs	67,383,177,158.94

7% return on investment and 3% cost of inflation
Years	2,018.00	2,019.00	2,020.00	2,021.00	2,022.00	2,023.00	2,024.00	2,025.00	2,026.00	2,027.00	2,028.00	2,029.00	2,030.00	2,031.00	2,032.00	2,033.00	2,034.00	2,035.00	2,036.00	2,037.00	2,038.00	2,039.00	2,040.00	2,041.00	2,042.00	2,043.00	2,044.00	2,045.00	2,046.00	2,047.00	2,048.00
Teacher’s salary	83,200.00	84,032.00	84,872.32	85,721.04	86,578.25	87,444.04	88,318.48	89,201.66	90,093.68	90,994.61	91,904.56	92,823.61	93,751.84	94,689.36	95,636.25	96,592.62	97,558.54	98,534.13	99,519.47	100,514.66	101,519.81	102,535.01	103,560.36	104,595.96	105,641.92	106,698.34
Contribution of the teacher’s in the super annuation fund (9.5% of the salary)	7,904.00	7,983.04	8,062.87	8,143.50	8,224.93	8,307.18	8,390.26	8,474.16	8,558.90	8,644.49	8,730.93	8,818.24	8,906.43	8,995.49	9,085.44	9,176.30	9,268.06	9,360.74	9,454.35	9,548.89	9,644.38	9,740.83	9,838.23	9,936.62	10,035.98	10,136.34
Employers’ contribution (2.5 times of above)	19,760.00	19,957.60	20,157.18	20,358.75	20,562.34	20,767.96	20,975.64	21,185.39	21,397.25	21,611.22	21,827.33	22,045.61	22,266.06	22,488.72	22,713.61	22,940.75	23,170.15	23,401.86	23,635.87	23,872.23	24,110.96	24,352.06	24,595.59	24,841.54	25,089.96	25,340.86
Combined contribution of teacher and State	27,664.00	27,940.64	28,220.05	28,502.25	28,787.27	29,075.14	29,365.89	29,659.55	29,956.15	30,255.71	30,558.27	30,863.85	31,172.49	31,484.21	31,799.05	32,117.05	32,438.22	32,762.60	33,090.22	33,421.13	33,755.34	34,092.89	34,433.82	34,778.16	35,125.94	35,477.20
Accumulated Contribution in superannuation fund	27,664.00	55,604.64	83,824.69	112,326.93	141,114.20	170,189.34	199,555.24	229,214.79	259,170.94	289,426.65	319,984.91	350,848.76	382,021.25	413,505.46	445,304.52	477,421.56	509,859.78	542,622.38	575,712.60	609,133.73	642,889.06	676,981.95	711,415.77	746,193.93	781,319.87	816,797.07
Return on investment @6%	1,659.84	3,435.87	5,335.22	7,365.47	9,534.64	11,851.22	14,324.25	16,963.28	19,778.44	22,780.49	25,980.82	29,391.50	33,025.34	36,895.91	41,017.61	45,405.69	50,076.32	55,046.66	60,334.87	65,960.23	71,943.16	78,305.33	85,069.68	92,260.55	99,903.74	108,026.59
Total accumulated interest	1,659.84	5,095.71	10,430.93	17,796.40	27,331.04	39,182.26	53,506.51	70,469.79	90,248.24	113,028.73	139,009.55	168,401.05	201,426.38	238,322.30	279,339.90	324,745.59	374,821.91	429,868.57	490,203.44	556,163.67	628,106.84	706,412.16	791,481.84	883,742.39	983,646.12	1,091,672.71
Total accumulated fund	29,323.84	60,700.35	94,255.62	130,123.34	168,445.24	209,371.61	253,061.75	299,684.58	349,419.17	402,455.38	458,994.46	519,249.81	583,447.64	651,827.76	724,644.42	802,167.16	884,681.69	972,490.95	1,065,916.04	1,165,297.40	1,270,995.90	1,383,394.12	1,502,897.61	1,629,936.32	1,764,965.99	1,908,469.78
Administration costs’ present value
Years
Annual administration costs	2,018.00	2,019.00	2,020.00	2,021.00	2,022.00	2,023.00	2,024.00	2,025.00	2,026.00	2,027.00	2,028.00	2,029.00	2,030.00	2,031.00	2,032.00	2,033.00	2,034.00	2,035.00	2,036.00	2,037.00	2,038.00	2,039.00	2,040.00	2,041.00	2,042.00	2,043.00	2,044.00	2,045.00	2,046.00	2,047.00	2,048.00	Total
PV factor @12%	4,669,000,000.00	4,715,690,000.00	4,762,846,900.00	4,810,475,369.00	4,858,580,122.69	4,907,165,923.92	4,956,237,583.16	5,005,799,958.99	5,055,857,958.58	5,106,416,538.16	5,157,480,703.54	5,209,055,510.58	5,261,146,065.69	5,313,757,526.34	5,366,895,101.61	5,420,564,052.62	5,474,769,693.15	5,529,517,390.08	5,584,812,563.98	5,640,660,689.62	5,697,067,296.52	5,754,037,969.48	5,811,578,349.18	5,869,694,132.67	5,928,391,074.00	5,987,674,984.74	6,047,551,734.58	6,108,027,251.93	6,169,107,524.45	6,230,798,599.69	6,293,106,585.69
Present value of costs	1.00	0.89	0.80	0.71	0.64	0.57	0.51	0.45	0.40	0.36	0.32	0.29	0.26	0.23	0.20	0.18	0.16	0.15	0.13	0.12	0.10	0.09	0.08	0.07	0.07	0.06	0.05	0.05	0.04	0.04	0.03
	4,669,000,000.00	4,210,437,500.00	3,796,912,388.39	3,424,001,350.25	3,087,715,503.35	2,784,457,730.70	2,510,984,203.58	2,264,369,683.58	2,041,976,232.52	1,841,424,995.39	1,660,570,754.77	1,497,478,984.22	1,350,405,155.41	1,217,776,077.65	1,098,173,070.02	990,316,786.36	893,053,530.55	805,342,915.95	726,246,736.70	654,918,932.20	590,596,537.08	532,591,520.04	480,283,424.32	433,112,730.86	390,574,873.37	352,214,841.16	317,622,312.12	286,427,263.61	258,296,014.50	232,927,655.94	210,050,832.59	45,610,260,537.17
Note 1: Present value of retirement pension
Years	2,018.00	2,019.00	2,020.00	2,021.00	2,022.00	2,023.00	2,024.00	2,025.00	2,026.00	2,027.00	2,028.00	2,029.00	2,030.00	2,031.00	2,032.00	2,033.00	2,034.00	2,035.00	2,036.00	2,037.00	2,038.00	2,039.00	2,040.00	2,041.00	2,042.00	2,043.00	2,044.00	2,045.00	2,046.00	2,047.00	2,048.00	Total
Salary in 2018 for pension purpose	96,975.00
Pension of teacher (Salary x 2.4% x 25)	58,185.00	58,185.00	58,185.00	58,185.00	58,185.00	58,185.00	58,185.00	58,185.00	58,185.00	58,185.00	58,185.00	58,185.00	58,185.00	58,185.00	58,185.00	58,185.00	58,185.00	58,185.00	58,185.00	58,185.00	58,185.00	58,185.00	58,185.00	58,185.00	58,185.00	58,185.00	58,185.00	58,185.00	58,185.00	58,185.00	58,185.00
Factor to be used to adjust inflation	1.00	1.03	1.06	1.09	1.13	1.16	1.19	1.23	1.27	1.30	1.34	1.38	1.43	1.47	1.51	1.56	1.60	1.65	1.70	1.75	1.81	1.86	1.92	1.97	2.03	2.09	2.16	2.22	2.29	2.36	2.43
Pension of teacher after adjustig inflation each year	58,185.00	59,930.55	61,728.47	63,580.32	65,487.73	67,452.36	69,475.93	71,560.21	73,707.02	75,918.23	78,195.77	80,541.65	82,957.90	85,446.63	88,010.03	90,650.33	93,369.84	96,170.94	99,056.07	102,027.75	105,088.58	108,241.24	111,488.48	114,833.13	118,278.13	121,826.47	125,481.26	129,245.70	133,123.07	137,116.76	141,230.27
12% present value factor with the factor is closer to 12% pa	1.00	0.89	0.80	0.71	0.64	0.57	0.51	0.45	0.40	0.36	0.32	0.29	0.26	0.23	0.20	0.18	0.16	0.15	0.13	0.12	0.10	0.09	0.08	0.07	0.07	0.06	0.05	0.05	0.04	0.04	0.03
Present value of obligation	58,185.00	53,509.42	49,209.56	45,255.22	41,618.64	38,274.28	35,198.67	32,370.21	29,769.03	27,376.87	25,176.95	23,153.80	21,293.23	19,582.16	18,008.60	16,561.48	15,230.64	14,006.75	12,881.21	11,846.11	10,894.19	10,018.77	9,213.69	8,473.30	7,792.41	7,166.24	6,590.38	6,060.79	5,573.77	5,125.87	4,713.97	611,946.20
Years	2,018.00	2,019.00	2,020.00	2,021.00	2,022.00	2,023.00	2,024.00	2,025.00	2,026.00	2,027.00	2,028.00	2,029.00	2,030.00	2,031.00	2,032.00	2,033.00	2,034.00	2,035.00	2,036.00	2,037.00	2,038.00	2,039.00	2,040.00	2,041.00	2,042.00	2,043.00	2,044.00	2,045.00	2,046.00	2,047.00	2,048.00	Total
Total teachers in 2018	47,433.00
Teachers retired in 2018 and to retire in future	3,786.00	1,897.32	1,897.32	1,897.32	1,897.32	1,897.32	1,897.32	1,897.32	1,897.32	1,897.32	1,897.32	1,897.32	1,897.32	1,897.32	1,897.32	1,897.32	1,897.32	1,897.32	1,897.32	1,897.32	1,897.32	1,897.32	1,897.32	1,897.32	1,897.32	1,897.32	1,897.32	1,897.32	1,897.32	1,897.32	1,897.32
Expected number ofteachers to pass away each year (% of retired eachers)	189.30	94.87	94.87	94.87	94.87	94.87	94.87	94.87	94.87	94.87	94.87	94.87	94.87	94.87	94.87	94.87	94.87	94.87	94.87	94.87	94.87	94.87	94.87	94.87	94.87	94.87	94.87	94.87	94.87	94.87	94.87
Cumulative number of teachers retired	3,596.70	5,399.15	7,201.61	9,004.06	10,806.52	12,608.97	14,411.42	16,213.88	18,016.33	19,818.79	21,621.24	23,423.69	25,226.15	27,028.60	28,831.06	30,633.51	32,435.96	34,238.42	36,040.87	37,843.33	39,645.78	41,448.23	43,250.69	45,053.14	46,855.60	48,658.05	50,460.50	52,262.96	54,065.41	55,867.87	57,670.32
Present value of obligation of retiremnet pension of each teacher (Note 1)	58,185.00	53,509.42	49,209.56	45,255.22	41,618.64	38,274.28	35,198.67	32,370.21	29,769.03	27,376.87	25,176.95	23,153.80	21,293.23	19,582.16	18,008.60	16,561.48	15,230.64	14,006.75	12,881.21	11,846.11	10,894.19	10,018.77	9,213.69	8,473.30	7,792.41	7,166.24	6,590.38	6,060.79	5,573.77	5,125.87	4,713.97
Total obligation (E x F)	209,273,989.50	288,905,597.10	354,387,929.03	407,480,773.19	449,752,460.14	482,599,269.57	507,262,954.24	524,846,558.46	536,328,692.23	542,576,406.91	544,356,805.20	542,347,505.48	537,146,069.83	529,278,494.71	519,206,853.87	507,336,175.24	494,020,625.19	479,569,067.39	464,250,056.61	448,296,322.56	431,908,793.33	415,260,203.57	398,498,328.16	381,748,878.16	365,118,092.58	348,695,056.10	332,553,769.94	316,755,000.79	301,347,929.92	286,371,622.75	271,856,337.01	13,219,336,618.77
Details	Amount ($)	Amount ($)
Accumulated fund of a single teacher in spuerannuatio fund during his or her working life		1,908,469.78
Total number of teachers		47,433.00
Total available fund to meet the superannuation obligations		90,524,447,230.83
Obligation for total costs ( Note 2)	74,636,704,488.62
Present value of annual retirment obligation ( Note 3)	13,219,336,618.77
		87,856,041,107.39
Net present value		2,668,406,123.44
Note 2
Particulars	Amount ($)
Present value of obligation towards meeting the superannuation requirement of a teacher (A)	611,946.20
Total number of teachers (B)	47,433.00
Expected total obligation (A x B)	29,026,443,951.45
Adminsitartive costs present value	45,610,260,537.17
Obligation for total costs	74,636,704,488.62