At first glance, the past few decades of the life insurance market in Hungary (and probably in the majority of the European, or at least Central-Eastern European countries) give the impression that annuity insurance is a marginal product that is not worthy of special attention, since most people...

The broadly used pay-as-you-go (PAYG) pension system is intrinsically wrong. The essenceof the problem is that the PAYG system distributes the yield of raising children, i.e., of human capitalinvestment (which is essentially the pension contribution), in such a way that it disregards the...

Why should I read this? Because it is worth to know the logical struchrre of the solutions (and the solutions themselfs) make the long term plamring of the life cycle possible. Because you can know the matematical models behind one of the most bigger financial sector. Because you can recognize...

For thousands of years, our ancestors operated a pension system that modern economists have declared obsolete, and which a new system has been introduced to replace. However, this new system is beginning to go bankrupt, while the maintaining of the old by the young is increasingly becoming a...

In my study, I took into account the design faults of the state-funded, pay-as-you-go system and realised that its principle (created in arrears) is defective, and it is necessary to move to a new operating principle to correct it. We have to forget about the existing so-called 'unfunded'...

In my study, I took into account the design faults of the state-funded, pay-as-you-go system and realised that its principle (created in arrears) is defective, and it is necessary to move to a new operating principle to correct it. We have to forget about the existing so-called ‘unfunded’...