Defined Contribution Pension
Target driven investing: Optimal investment strategies in defined contribution pension plans under loss aversion
... We have applied some of the most powerful lessons of behavioural finance to solve the optimal investment strategy in a defined contribution pension plan. The key lesson is that loss aversion with ...
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New Considerations about the Switch Criterion for Defined Contribution Pension SchemeEmanuela Pasqualitto
... for defined contribution pension schemes" in order to verify if considering more realistic aspects of the market conditions in which to operate, the model itself might allow the achievement of a ...
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Long Term Risk Assessment in a Defined Contribution Pension System
... a defined contribution pension system by focusing its atten- tion on the distribution of final pensions, and that has the potential to incorporate the two considerations discussed above, that is, to ...
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Turning pension plans into pension planes: What investment strategy designers of defined contribution pension plans can learn from commercial aircraft designers
... UK pension fund managers performed in comparison with other participants in the market over the period ...managing defined benefit plans rather than defined contribution ...by defined ...
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A dynamic life cycle analysis for a Defined Contribution pension plan
... security. Pension funds are under enor- mous pressure and pension cuts seem unavoidable without political ...rent Defined Benefit pension system is under review and the market shifts towards a ...
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Optimal Investment Strategy for Defined Contribution Pension Scheme under the Heston Volatility Model
... In [8] and [9] optimal control of a defined contribution pension plan where the guarantee depends on the level of interest rates at the fixed retirement date were considered. [10] measured the effect ...
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Blending public and private real estate allocations for defined contribution pension funds: A U.K. Case study
... UK Defined Contribution Pension Fund market where there is a daily liquidity requirement for investment funds and products targeting this segment of the pension funds ...
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Target-driven investing: Optimal investment strategies in defined contribution pension plans under loss aversion
... We have applied some of the most powerful lessons of behavioural finance to solve the optimal investment strategy in a defined contribution pension plan. The key lesson is that loss aversion with ...
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The Management of Decumulation Risks in a Defined Contribution Pension Plan
... The aim of the paper is to lay the theoretical foundations for the construction of a flexible tool that can be used by pensioners to find optimal investment and consumption choices in the distribution phase of a ...
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The Mexican Defined Contribution Pension System: Perspective for Low Income Workers
... IMSS defined contribution pension system: the minimum pension guarantee and the Cuota ...minimum pension equivalent to one minimum salary of ...
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Returning to the Core - Rediscovering a Role for Real Estate in Defined Contribution Pension Schemes
... in defined benefit (DB) pension funds, along with equities and ...DC pension funds, this switch in classification has had a strongly negative impact on the real estate sector and, it might be argued, ...
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Income drawdown schemes for a defined-contribution pension plan
... a pension fund, how to invest the remaining funds, and whether to pur- chase an ...a defined-contribution per- sonal pension ...is defined so that it minimises the expected loss of the ...
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Optimal funding and investment strategies in defined contribution pension plans under Epstein-Zin utility
... optimal contribution rates, corresponding to the optimal asset allocation strategies shown in Figure ...annual contribution rate at age 20 is just under 8% ...the contribution rate into the ...
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The Role of Inflation-indexed Bond in Optimal Management of Defined Contribution Pension Plan During the Decumulation Phrase
... In order to investigate the role of the inflation-linked bond in pension management, we consider another optimal portfolio selection problem with the indexed bond excluded in this section. Here we abuse the ...
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Optimal Asset Allocation Strategy for Defined Contribution Pension Plans with Different Power Utility Functions
... Since contribution from wage income is also important for pension wealth growth, studies on DC plan strategies generally assume stochastic interest rates and deterministic or stochastic wages ...
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Optimal investment strategies and risk measures in defined contribution pension schemes
... Permanent repository link: http://openaccess.city.ac.uk/11898/ Link to published version: http://dx.doi.org/10.1016/S0167-66870200128-2 Copyright and reuse: City Research Online aims to [r] ...
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Good Practice Principles in Modelling Defined Contribution Pension Plans
... simulated pension fund at retirement (upper panel) and the simulated replacement ratio at retirement (lower panel) based on an assumed ‘base case’ and set of underlying assumptions about relevant driving processes ...
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Optimal asset allocation and annuitisation in a defined contribution pension scheme
... all pension wealth (more than 97% of the available pension ...the pension wealth is saved again afterwards, which means that the pensioner does not spend all his income from social security and ...
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The minimum pension as an instrument of poverty protection in the defined contribution pension system – an example of Poland
... Under these assumptions, women with lowest wages between minimum wage and 50% of average wage in the economy, can expect pensions below than minimum pension level even without changes in[r] ...
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The Sustainable Rate of Return of Defined Contribution Pension Schemes
... 3. Choosing a rate of return equal to the growth rate of the total earnings of the active population ensures in any case the equality between the contribution revenue and the pension expenditure in each ...
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