Defined Contribution Pension Plan
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 ...
103
Income drawdown schemes for a defined-contribution pension plan
... The classical Merton approach (Merton, 1990) to the lifetime investment problem involves two controls: the asset allocation y and the consumption rate b. The optimal consumption rate b ∗ is derived by balancing the ...
25
The Role of Inflation-indexed Bond in Optimal Management of Defined Contribution Pension Plan During the Decumulation Phrase
... is defined as an financial instrument that delivers a defined payoff indexed by inflation at maturity time, which can be utilized to hedge against inflation ...
12
The Management of Decumulation Risks in a Defined Contribution Pension Plan
... in defined benefit and defined contribution pension schemes is quite ...and contribution rate stability risk — are, among others, Boulier, Trussant and Florens (1995), Boulier, Michel ...
33
Online Full Text
... This paper have studied a continuous-time mean-variance portfolio selection problem with stochastic salary and strategic life-cycle consumption planning in the accumu- lation phase of a defined contribution ...
12
Target-driven investing: Optimal investment strategies in defined contribution pension plans under loss aversion
... a defined contribution pension ...the plan might well provide a better representation of a typical plan member’s attitude to risk taking than risk aversion in respect of the terminal ...
37
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 ...
10
Optimal Portfolio and Strategic Consumption Planning in a Life-Cycle of a Pension Plan Member in a Defined Contributory Pension Scheme
... a defined contribution pension plan where the guarantee depends on the level of interest rates at the fixed retirement ...DC pension plan, taking into account the stochastic ...
11
Optimal Plan Design and Dynamic Asset Allocation of Defined Contribution Pension Plans: Lessons from Behavioural Finance and Non-expected Utility Theories
... and pension wealth tend to move in line with each other; the optimal portfolio weight will therefore switch from equities to the risk-free financial asset in a more gradual ...the pension fund is a crucial ...
179
Optimal Asset Allocation Strategy for Defined Contribution Pension Plans with Different Power Utility Functions
... the pension plan can invest in three assets, cash, bond and stock [7]-[9], and investigate three dif- ferent scenarios: the terminal utility is a function of terminal wealth, a function of terminal ...
17
Target driven investing: Optimal investment strategies in defined contribution pension plans under loss aversion
... DC pension plan is not a new ...the plan started: the more risk averse the member or the longer the accumulation period prior to retirement, the earlier the switch to ...
46
Investment Strategies, Fund Size and Financial Performance of Defined Contribution Schemes in Kenya: Theoretical Review
... a defined contribution (DC) pension plan and the average plan member age if trustees design the default fund in line with predictions from the life-cycle portfolio choice ...average ...
13
Optimal investment choices post-retirement in a defined contribution pension scheme
... DC plan by means of stochastic optimal control, choosing between equities and annuities, and find that complete annuitization eventually ...drawdown plan (one approach has survival bonuses but no bequest — ...
26
Pension plan asset valuation
... that contribution rates may be calculated in order to make good these shortfalls and secure assets to meet pension liabilities as and when they are ...sponsor pension plans on a voluntary basis as ...
8
Development of Pension System of Uzbekistan through the Experience of the Countries of the European Union
... of pension provision, otherwise the government can decrease the replacement ...developed pension system should provide three main ...with pension security, providing stability of fiscal policy, ...
6
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 ...
64
Does the performance of pension plans affect firm investment of Dutch sponsoring firms?
... of pension plan in the Netherlands is a form of defined benefit plan (OPF-VB, 2010), the so called “true DB” is less common, instead there are a multitude of different hybrid plans (Chen & ...
50
Turning pension plans into pension planes: What investment strategy designers of defined contribution pension plans can learn from commercial aircraft designers
... the pension plan, and involves a complex set of trade-offs between contributions, asset allocation, and asset ...required contribution rate, while the second will raise the short-fall risk (of ending ...
87
What is the Return Rate of a Corporate Pension Scheme? Generalized Annuity Factors Simplify Calculation
... Corporate pension schemes are widely spread especially in Northern Europe, North America, ...of defined contributions to the scheme is shouldered by the ...corporate pension plan - taking into ...
17
Good Practice Principles in Modelling Defined Contribution Pension Plans
... retirement pension fund, since peak contributions will be invested for ...different contribution patterns even if they start their careers on the same salary and pay the same contribution rate ...
26