Pensions refer to payment made to a person (or their dependants) after retirement. Pension systems vary across countries and no single model fits all. Generally, there is a mix of public and private pension provision. Public pensions are statutory, most often financed on a pay-as-you-go basis...

Chapter 1 An Overview of the Pension System in Malaysia -- Chapter 2 Determinants of Pension Cost -- Chapter 3 Asset Allocation and Performance -- Chapter 4 Can Future Pension Assets Meet Their Future Liabilities? -- Chapter 5 Is the Defined Benefit Pension Fund Sustainable in the Long Run? --...

The central thesis of this paper is that defined-benefit (DB) pensions in conjunction with taxpayer-backed DB pension insurance subject pension plan participants and taxpayers to much greater financial risk than current pension funding statistics suggest. Specifically, it is shown that: (i)...