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What is the estimated pension liability as of December

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Question - A president of JR and RJ Corporation PV@ 5% for one period, 0.9524PV@ 5% for two periods, 0.9070 shall receive a 20% retirement benefit based on the final salary per year for a period of 3 years. The president does not contribute to the plan. The discount rate to be used is 5%. The projected salary over three years (2020, 2021, 2022) are P500,000, P600,000, and P720,000, respectively. 

1. What is the annual benefit to be used in computing the estimated pension liability?

2. What is the estimated pension liability as of December 31, 2021 using the projected unit credit method?

Reference no: EM132995272

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