CONSTRUCTION OF MULTIPLE DECREMENT TABLE FOR EMPLOYMENT SOCIAL SECURITY IN WEST JAVA REGION USING MAKEHAM MORTALITY LAW AND PARTIAL CREDIBILITY THEORY

• Main Author: Adam Al Rafi, Muhammad
• Format: Final Project
• Language: Indonesia
• Online Access: https://digilib.itb.ac.id/gdl/view/73018
• Institution: Institut Teknologi Bandung

The mortality table shows the average number of deaths that occur each year in each age group. This table is used by actuaries to determine the amount of premiums and reserves in life insurance companies. BPJS Ketenagakerjaan reviews the mortality characteristics of its social security participants regularly every 5 years. They constructed the Jamsostek Mortality Table based on TMI IV membership data. The aim of this study is to construct a multiple decrement table consisting of causes of death and resignation. The data used is BPJS-TK Death Benefit (JKM) membership data from 2019 to 2021 for the West Java region. The approach used is extrapolation using the Makeham mortality model, graduation using the Whittaker-Henderson method, and the Partial Credibility Test. The results obtained from this extrapolation were found to increase the chance of death at the age of 14-15 years and at the age of 58-59 years. By giving appropriate weights to the 2022 Jamsostek Mortality Table for the age range 15 to 58 years, the results show that the probability of death for men and women at certain ages is comparable to the TMJ 2022. The mortality outcomes obtained from this study with the boundaries of the West Java region are the mortality probabilities of men and women tend to be higher than the national mortality probabilities for productive age, and the probabilities of withdrawing from both sexes are much higher than the probabilities of dying.