Milliman analysis: Competitive pension risk transfer cost increased from 99.6% to 99.7% during July
Milliman, Inc., a premier global consulting and actuarial firm, today announced the latest results of its Mill ...
Global pension asset allocations and debt markets
Pension fund investors have been typically viewed as some of the most dependable investors in global bond mark ...
Australia. Age pension dependence down
Australians are relying less on the age pension to fund their retirement as their super balances grow, accordi ...
What does good pension scheme performance look like?
When assessing pension scheme performance, the familiar question ‘what does good look like?’ is particularly a ...
Asia’s aging population will redefine retirement, care—and independence
Over the next decade, Asian families will transfer an estimated $10 trillion—nearly twice the size of Germany’ ...
ECB warning of AI bubble: Contagion and concentration risk spreads
Warnings of a potential AI bubble have not exactly been thin on the ground lately. All the same, a blog post o ...
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ARTICLES
Risk Sharing and Asset Pricing under Alternative Retirement Systems
By Li Wei We examine what happens to financial markets and how generations share risk when defined benefit (DB) pension plans are incorporated into an asset pricing model with imperfect markets. We look at how important it is for pension fund growth, changes in asset demand, and return-driven volatility channels to use an adjusted macroeconomic […]
Healthy Longevity as Regenerative Capital: AI-Enabled Prevention, Senior Re-employment, and Climate Risk
By Jules SADEFO KAMDEM Population ageing and climate change jointly threaten the functional capacity that sustains autonomy, labour supply, productivity, and fiscal resilience. This paper develops a continuous- time, age-structured model in which healthy longevity is a regenerative form of human capital. Cohort health is exposed to biological depreciation, a standardised heat-stress state, diffusion risk, […]
Optimal Investment for Retirement with Intergenerational Benchmarking
By Luke Servat & Antoon Pelsser Countries have demonstrated a tendency to switch their second pillar toward defined contribution plans, increasing the market-sensitivity of pensions. This can lead to large differences across generations within a pension fund, as otherwise similar cohorts may experience different market conditions during accumulation. In this paper, we investigate how each […]
NEWS
Milliman analysis: Competitive pension risk transfer cost increased from 99.6% to 99.7% during July
Milliman, Inc., a premier global consulting and actuarial firm, today announced the latest results of its Milliman Pension Buyout Index (MPBI). During July, the estimated cost to transfer retiree pension risk to an insurer in a competitive bidding process inched up by 10 basis points, from 99.6% to 99.7% of a plan’s accounting liabilities (accumulated […]
Global pension asset allocations and debt markets
Pension fund investors have been typically viewed as some of the most dependable investors in global bond markets. Their long-term obligations make government and corporate debt a natural fit: bonds offer predictable income which matches future retirement payments, and support relatively stable portfolios. However, that relationship is changing. Recent research has shown that demand shifts […]
Australia. Age pension dependence down
Australians are relying less on the age pension to fund their retirement as their super balances grow, according to Association of Superannuation Funds of Australia (ASFA) research. The study revealed about 56 per cent of people aged 65 or over now receive a full or part age pension compared to 70 per cent in 2012. […]
What does good pension scheme performance look like?
When assessing pension scheme performance, the familiar question ‘what does good look like?’ is particularly apt. Having spent many years evaluating investment performance in asset management, I am clear on one principle: performance must be judged against objectives. For an investment manager running a mandate or fund, the objective may be relatively simple: outperform a […]