This study introduces multiplayer game in the modern pension market. Particularly, this study claims that low earners … and high earners have different interests when playing in funded pension market scheme. This differentiating is enabled by …-economic anomaly in the funded pension system, which is in favor of high-earning cohorts at the expense of low-earning cohorts. This …

groups of fund participants. The pension arrangement is modelled after the Dutch situation. While the aggregate welfare … ; pension buffers ; stochastic simulations …

groups of fund participants. The pension arrangement is modelledafter the Dutch situation. While the aggregate welfare …

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 …