In Reply to: Re: Salary increases, do you know more? posted by GrumpyGuts on 08 March 2004 at 07:13:17:
GG,
You are right, the algebra isn't as simple as I presented it. (That is why I used the weasel wording "similar sized" rather than "same sized")
There are other bits of the calculation that also stop it being entirely sound. Average paid to the members at the beginning of a period is not entirely comparable with average paid to the members at the end of the period, for the purpose of seeing things from a member's point of view, because the membership will have changed over the period.
However, the actuarial reports do give figures for just those employees who were in the scheme at the beginning of a year and at the end of that year. They seem to be much the same figures as those derived by averaging over larger domains.
(not with trustee hat on)