We explore the implications of alternative methods of discounting future pension outlays for the valuation of funded … pension liabilities. Measured liabilities affect the asset-liability ratio of pension funds and, thereby, their policies. Our … two-pillar pension system (with PAYG and funded tiers) calibrated to that in the Netherlands. We compare mark …

This paper explores the introduction of collective risk-sharing elements in defined contribution pension contracts. We … substantial welfare gains. An increase in the tax deductability of pension contributions can be beneficial for working cohorts …

In this study, we analyse the actuarial features of the Italian pension system after the 1995 reform. We consider both … the old defined benefit, the pro-rata and the new notional defined contribution pension rules applied to private sector … gender-specific mortality rates based on a limit demographic scenario recently depicted by demographic experts. We compare …

of pension systems. This model is derived from the principle that the primary functions of pension systems, (poverty …-funding and managing risk through diversification among the pillars. The pension system of the Netherlands is considered in … system. Overall, the pension system of the Netherlands, consistent with other recent evaluations, is found to be among the …

In this paper we use the actual rules and formulas of an occupational pension fund, the state pension fund and the tax … scenarios. We then vary the parameters of the pension formulas to study the sensitivity of the replacement rates. We also … analyze the implications of late full retirement and partial retirement for the occupational and state pension entitlements …

? Which pension funds and schemes should be subject to it? How do we overcome the political dilemmas when regulating pensions …

. This is particularly true of pension reforms because of their profound impact on people's life plans. The 2011 Italian … pension reform is a case in point …

Using recovery plan data of 213 underfunded Dutch pension funds for the years 2011, 2012 and 2013, discrete choice … models are estimated describing pension funds' choices between three recovery measures: higher contributions, no indexation …, and pension cuts. The estimation results suggest, firstly, that pension cuts are more likely when the funding ratio is …

from wage-employment to self-employment. To isolate the causal effect of wealth, we used a pension system reform in 2006 as … substantial reduction of their pension wealth. Our empirical results are robust to the checks on the anticipation effects and the … placebo effects, and show that the (pension) wealth change has a significant positive causal effect on the transition into …

This paper analyses the distributional effects of the Polish old‐age pension reform introduced in 1999. Following a … benchmark Mincer earnings equation, and using a newly developed microsimulation model we project future pension benefits for … males born in years 1969‐1979. We find that inequality of predicted first pension benefits measured by the Gini coefficient …