Consider a pension scheme that provides a pension of 1/60th of final pensionable salary for each year of scheme service on retirement for any reason. Final pensionable salary is the average annual salary in the three years immediately prior to retirement. Fractional years of service count proportionately. You are given the following data in respect of a member who earned a salary of $100,000 in the 12 months preceding the scheme valuation date: Gender Female Date of birth 1 January 1960 Date of joining the scheme 1 January 1995 a. Using the symbols defined in, and assumptions underlying, the Formulae and Tables for Actuarial Examinations, calculate the expected present value as at 1 January 2015 of this member's total pension. b. Using the symbols defined in, and assumptions underlying, the Formulae and Tables for Actuarial Examinations, calculate the contribution rate required, as a percentage of salary, to fund the future service element as at 1 January 2015 of the pension