Defined contribution pension scheme
Optimal asset allocation and annuitisation in a defined contribution pension scheme
... where b 1 is the individual’s ideal level of consumption, T being the time of the compulsory annuitisation, Ψ ( X t ( ) ) represent member’s disutility after annuitisation. The optimisation takes place in variables b u ( ...
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Optimal investment choices post-retirement in a defined contribution pension scheme
... DC scheme take the income drawdown option in the hope of doing better than buying an annuity at ...high pension and, if the size of the fund allows the purchase of the high pension before the ...
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Optimal Investment Strategy for Defined Contribution Pension Scheme under the Heston Volatility Model
... ψ = (3) Let X t V ( ) , be the wealth process of a PPP at time t . We assume that the fund administrator invests the contribution in η riskless assets and π risky assets, then we have the dynamics of the wealth ...
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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 ...
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Investment Strategies, Fund Size and Financial Performance of Defined Contribution Schemes in Kenya: Theoretical Review
... and Defined Contribution Pension Scheme” by accessing the impact of different quantitative approaches to regulate investment risk on the retirement income stemming from defined ...
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Online Full Text
... a defined contribution pension ...the pension fund optimizes its retribution as a part of the sur- ...a pension scheme that involve both accumu- lation and ”decumulation” ...a ...
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Optimal investment strategies and risk measures in defined contribution pension schemes
... a defined contribution pension scheme is the so-called lifestyle strategy, which consists in investing the whole fund in high risk assets at the beginning of the membership, and then switching ...
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Returning to the Core - Rediscovering a Role for Real Estate in Defined Contribution Pension Schemes
... DC scheme wanted an automatic facility for employees who did not want to choose their investments, providers (the life offices) usually recommended what they described as a balanced managed fund for this ...
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The Mexican Defined Contribution Pension System: Perspective for Low Income Workers
... IMSS pension system was designed as a defined benefit scheme and was originally financed according to a scaled premium system, accumulating the reserves needed to finance the cost of future ...
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Sensitivity Analysis of Accumulated Savings in Defined Contribution Pension System
... the pension insurance company, which determines the annuities on actuarial principles, ...total pension from the new pension system is also determined by the 1 st pillar pension scheme ...
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Determinants of Scheme Design in Occupational Defined Contribution Schemes in Kenya
... Occupational pension plans registered significant growth after independence in ...of pension may be offset by improvement in overall efficiency, by retiring the inefficient by ...of pension also ...
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New Considerations about the Switch Criterion for Defined Contribution Pension SchemeEmanuela Pasqualitto
... - yet this opportunity is not left forever since, at the reaching of 75 years of age, the individuals must compulsorily abandon the social security scheme by purchasing the annuity with the overall settled fund. ...
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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 features of the ...
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“Sustainable and Affordable”? Actuarially fair contribution rates for the USS Pension Scheme
... for scheme members joining the scheme at the ages of 27 and 47, respectively, and hence having time to retirement of 40 and 20 years ...fair contribution rate over the period since 1985, for each of ...
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The Role of Inflation-indexed Bond in Optimal Management of Defined Contribution Pension Plan During the Decumulation Phrase
... a pension scheme contains an accumulation (contribution) phase, which is the period before retirement, and a decumulation (distribution) phase, which is the period after ...in pension plans ...
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Trustee Related Determinants of Scheme Design in Occupational Defined Contribution Schemes in Kenya
... the pension fund’s value as the retirement date approaches (Samuelson, 1989, 1991 and Blake ...target pension, charges by service providers and annuity rates at retirement were largely disregarded in the ...
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Optimal Variational Portfolios with Inflation Protection Strategy and Efficient Frontier of Expected Value of Wealth for a Defined Contributory Pension Scheme
... a defined con- tribution (DC) Pension ...a pension plan member (PPM) are also considered in this ...future contribution was ...the contribution was ...
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The Crowding-out Effect of Mandatory Labour Market Pension Schemes on Private Savings. Evidence from renters in Denmark. CEPS Working Document No. 389, February 2014
... of pension savings in Denmark comes from mandatory pension contributions agreed collectively between labour market unions and employer ...mandatory pension contributions have been increased on ...
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The Sustainable Rate of Return of Defined Contribution Pension Schemes
... DC pension scheme that, when started, saves in a fund a share k (with 0 ≤ ≤ k 1 ) of the contributions paid by the first generation of active workers and ‘donates’ the remaining share ( 1 -‐ k ) to first ...
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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 ...
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