The Pension Challenge
Risk Transfers and Retirement Income Security
Series: Pensions Research Council;
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84 800 Ft (80 762 Ft + 5% VAT)
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84 800 Ft
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Product details:
- Publisher OUP Oxford
- Date of Publication 13 November 2003
- ISBN 9780199266913
- Binding Hardback
- No. of pages362 pages
- Size 244x165x25 mm
- Weight 676 g
- Language English
- Illustrations numerous line drawings and tables 0
Categories
Short description:
The book offers new ways to think about retirement security in a volatile financial environment. Myriad retirement risks confront employees, retirees, employers, and governments. This book illustrates how stakeholders can reinvent pensions that perform well in a competitive global setting.
MoreLong description:
This book, the first in a new series produced by the Pension Research Council of the Wharton School in collaboration with Oxford University Press, explores ways to enhance retirement security in a volatile financial environment.
Mitchell and Smetters begin by assessing the myriad retirement risks confronting employees, retirees, employers, and governments, and it shows how stakeholders can work to reinvent pensions that perform well in a competitive global setting. Contributors then indicate how pension systems can be better designed to help protect against these risks.
Of special interest is a discussion of new financial products and structures to meet and manage challenges to old-age security. Examples considered include pension investment guarantees and hedges, adapting catastrophe bonds to the pension context, and key regulatory structures and portfolio requirements designed to protect unwary or unwitting pension participants. The contributors draw important lessons for a wide range of countries, drawing from both developed and developing market experiences.
Contributors include world-famous finance experts and risk management faculty, development economists, pension regulators, and pension consultants.
Table of Contents:
Overview: Developments in Risk Management for Retirement Security
Plan Sponsors and Retirement Income Risk
An Analysis of Investment Advice to Retirement Plan Participants
The Role of Company Stock in Defined Contribution Plans
Company Stock and Pension Plan Diversification
Integrating Payouts: Annuity Design and Public Pension Benefits in Mandatory Defined Contribution Plans
Risk Transfer in Public Pension Plans
Securing Public Pension Promises through Funding
Global Developments in Retirement Risk Transfer
Understanding Individual Account Guarantees
Money-Back Guarantees in Individual Account Pensions: Evidence from the German Pension Reform
Hedging Segregated Fund Guarantees
Retirement Guarantees in Mandatory Defined Contribution Systems
Retirement Guarantees in Voluntary Defined Contribution Plans
Securitized Risk Instruments as Alternative Pension Fund Investments
Credit Implications of the Payout Annuity Market
