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Default Investment Strategies in a Defined Contribution Pension System : A Pension Risk Model Application for the Chilean Case
Villatoro, Félix - 2014
In a defined contribution pension system, one of the main risks faced by members refers to the investment of funds. In this context, we discuss which is the most suitable risk measurement for the affiliates to the pension system. Different life-cycle investment strategies are evaluated under...
Persistent link: https://www.econbiz.de/10013050037
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What Determines the Asset Allocation of Defined Benefit Pension Funds?
Zhao, Zucheng; Sutcliffe, Charles - 2021
The asset allocation decision is one of the most important decisions made by defined benefit pension schemes, with a major effect on the scheme contribution rate, funding ratio and financial position of the sponsoring company. We investigate the determinants of the equity allocation of UK...
Persistent link: https://www.econbiz.de/10013245402
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Generational accounting, solidarity and pension losses
Teulings, Coen N.; Vries, Casper G. de - 2003
The stock market collapse led to political tensions between generations due to the fuzzy definition of the property rights over the pension funds’ wealth. The problem is best resolved by the introduction of generational accounts. Modern consumption and portfolio theory shows that the younger...
Persistent link: https://www.econbiz.de/10011334341
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Optimal Risk-Sharing in Pension Funds When Stock and Labor Markets are Co-Integrated
Boelaars, Ilja - 2018
A well established believe in the pension industry is that collective pension funds should take more stock market risk (compared to individual retirement accounts) since risk may be shared with future generations. We extend the OLG model of Gollier (2008) by adding labor income risk in the...
Persistent link: https://www.econbiz.de/10012917289
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Is Governance Related to Investment Performance and Asset Allocation? Empirical Evidence from Swiss Pension Funds
Ammann, Manuel - 2017
This study investigates the relationship between governance, investment performance and asset allocation of pension … governance metric comprising attributes of organisational design, management incentives, target setting, investment strategy …, investment processes, risk management, monitoring, and transparency. We find empirical evidence that pension fund governance is …
Persistent link: https://www.econbiz.de/10012962604
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Generational Accounting, Solidarity and Pension Losses
Teulings, Coen N.; de Vries, Casper G. - 2004
The creeping stock market collapse eroded the wealth of funded pension systems. This led to political tensions between generations due to the fuzzy definition of property rights on the pension funds wealth. We argue that this problem can best be resolved by the introduction of generational...
Persistent link: https://www.econbiz.de/10014074188
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Swiss pension funds : funding ratio, discount rate, and asset allocation
Schäublin, Jorma J. - In: Swiss journal of economics and statistics 158 (2022) 1, pp. 1-23
The funding ratio is a financial indicator to measure the viability of pension funds. The paper analyzes how Swiss occupational pension funds' technical discount rate and asset allocation are related to the funding ratio. The paper shows that funds with weaker funding ratios apply higher rates...
Persistent link: https://www.econbiz.de/10013269807
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U.S. Workers' Investment Decisions for Participant-Directed Defined Contribution Pension Assets
Hungerford, Thomas L. - 2003
Two issues may have a tremendous impact on the adequacy of retirement income for today's workers: The growth of 401(k) pension plans and the possible privatization of Social Security. Workers are becoming increasingly responsible for the adequacy of their retirement income by determining how...
Persistent link: https://www.econbiz.de/10014087990
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The Optimal Portfolio Allocation for Corporate Pension Funds
McCarthy, David - 2009
We model the asset allocation decision of a stylized corporate defined benefit pension fund. Besides including an allowance for uncertainty both of the future value of assets (because of uncertain investment returns) and liabilities (because of uncertainty in future longevity and in future...
Persistent link: https://www.econbiz.de/10013157548
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Generational Accounting, Solidarity and Pension Losses
Teulings, Coen N.; de Vries, Casper G. - 2021
The creeping stock market collapse eroded the wealth of funded pension systems. This led to political tensions between generations due to the fuzzy definition of property rights on the pension funds wealth. We argue that this problem can best be resolved by the introduction of generational...
Persistent link: https://www.econbiz.de/10013319589