Defined Benefit
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Recent papers in Defined Benefit
We consider defined benefit pension plans that, at retirement age, allow the participant to choose between a single life annuity and a joint and survivor annuity. We compare two plans that differ in terms of how pension rights are... more
All of Zambia's pension schemes are deficient in design, financing, and administration. This report urges that Zambia restructure its social protection system to complement its new economic strategy. That restructuring must address... more
In the UK and elsewhere, defined benefit (DB) schemes are being replaced by defined contribution (DC) schemes. However DC schemes have some substantial weaknesses, and a continuation of current policies will probably lead to another... more
The call for enhanced financial literacy amongst consumers is a global phenomenon, driven by the growing complexity of financial markets and products, and government concerns about the affordability of supporting an ageing population.... more
Most countries have separate pension plan for public sector employees. The future fiscal burden of these plans can be substantial as the government usually is the largest employer, pension promises in the public sector tend to be... more
This paper investigates the motivations for and consequences of including a broad group of employees in leveraged buyouts by comparing employee buyouts (EBOs) to transactions where only top level managers participate, or management... more
THE SWEDISH PENSION REFORM DATES BACK TO THE SUMMER OF 1992 when the Parliamen- tary Working Group on Pensions published a "sketch" containing almost all the essential elements of the reform. The working group was formed at the... more
This paper provides a stylised assessment of the impact of investment-relevant pension fund regulations and accounting rules on contribution and investment strategies within the context of an asset-liability model (ALM) specifically... more
The Canadian three-tier pension system consists of the Old Age Security (OAS), the Canada and Quebec Pension Plans (CPP/QPP) and workplace registered pension plans (RPPs). This three-tier system has improved and ensured the security and... more
This paper offers an assessment of broad social, economic, and demographic trends affecting the US labor force now—in,this time of strong economic,growth—and,in the future. The focus is on demographic trends, work and family issues,... more
Croatia's transition toward independence, and the market economy in the 1990s, exacerbated problems in the pay-as-you-go (PAYG) system, and ultimately led to its financial collapse. Although a comprehensive three-pillar reform was... more
This paper aims to review and assess protection afforded by the Social Security System and the Government Service Insurance System, two out of the three agencies tasked with administering social insurance in the country. Like social... more
The primary purpose of the present study was to examine the effect of salary level, amount of leave per year, the extent of cost-sharing for health care insurance coverage, and type of retirement plan on individuals’ job choice within a... more
In this work, we made a presentation regarding to the Israeli pension system which was deeply reformed by passing it from a system based on Defined Benefits with huge actuarial deficits to a system based on Defined Contribution actuarial... more