In the Mairead scenario, what percentage of the total retirement fund was funded by the member's own contributions?

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Multiple Choice

In the Mairead scenario, what percentage of the total retirement fund was funded by the member's own contributions?

Explanation:
The key idea is to determine what portion of the total retirement fund comes from the member’s own contributions. You find this by dividing the member’s contributions by the total fund and multiplying by 100. In Mairead’s scenario, the member’s contributions amount to about one-sixth of the total fund. One-sixth is roughly 16.7%, which rounds to 17%. The remaining share comes from employer contributions and investment returns, which is why the member’s portion is relatively small. So the member-funded portion is 17%.

The key idea is to determine what portion of the total retirement fund comes from the member’s own contributions. You find this by dividing the member’s contributions by the total fund and multiplying by 100. In Mairead’s scenario, the member’s contributions amount to about one-sixth of the total fund. One-sixth is roughly 16.7%, which rounds to 17%. The remaining share comes from employer contributions and investment returns, which is why the member’s portion is relatively small. So the member-funded portion is 17%.

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