This paper examines the appropriate term of the risk free rate to be used by a regulator in price control situations, most particularly in the presence of corporate debt. If the regulator seeks to ensure that the present value of the future cash flows to equity holders equals their initial...

Purpose – This paper seeks to compare the capitalisation rate offered by the Government Superannuation Fund (GSF) to retiring GSF members with the alternatives of borrowing and sale of the pension entitlements. Design/methodology/approach – The paper uses standard discounted cash flow...

Purpose This paper aims to determine the optimal date for an employee to initiate the pension payments from the New Zealand Government Superannuation Fund (GSF), through retirement or job shifting. Design/methodology/approach The paper uses discounted cash flow methods in conjunction with...