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I am not sure whether anyone can explain the formula below, could you give me any suggestion? Cheers. Account-based pension (phased withdrawal): paid out of

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I am not sure whether anyone can explain the formula below, could you give me any suggestion? Cheers.

image text in transcribed
Account-based pension (phased withdrawal): paid out of superannuateon accumulation with incentive to follow minimum draw down rules. y1= K1X (B) (where B is determined by age) yt = Kt-1 x (1-Bt-1) x (1+Rm) x ( B) Age per cent of account balance [B 1 K. = value of accumulation in period t

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