August 2020

07Aug

Defined Benefit Pension Schemes in the UK: Asset and Liability Management

By Philippe-N. Marcaillou The goal of Asset-Liability Management (ALM) of a Defined Benefit Pension Scheme (DB) is to properly manage the risks related to variation in its building blocks on both sides of the balance sheet whilst maintaining the same expected return. This book provides a step-by-step methodology to maximize the complete restructuring and monitoring of the ALM of DB schemes. It is a product of the author's 25 years of experience and technical knowledge in ALM of...

August 7, 2020
Books, Pension Management, Regulation, System Sustainability, , ,
Read more...

June 2020

26Jun

Actuarial and Financial Risks in Life Insurance, Pensions Pensions and Household Finance

By Luca Regis The recent regulatory changes, together with the increasing awareness of the variety of sources of uncertainty that affect the activities of insurance and pension funds, have generated increasing attention towards insurance risk management theory and practice. Against this background, this Special Issue collects relevant contributions on a variety of issues encompassing longevity risk modelling, solvency requirements, risk management, and risk sharing. This collection of papers provides insights, from both a theoretical and a practical perspective,...

June 26, 2020
Books, Pension Management, ,
Read more...
12Jun

UK Pension Market Report 2020

By Research and Markets In 2019, UK pension funds received total contributions of £241 billion, representing a 10% rise over the level of 2018. In 2019, contributions to workplace pensions represented 70% of total contributions and this is expected to rise to 71% in 2020. In 2019, the publisher estimates that 2.4 million new pension products were sold to members of the public. In 2019, just over 21 million employees in the UK had a workplace pension with most of...

June 12, 2020
Books, Investment, Pension Management, Reports, , , , ,
Read more...

May 2020
22May

How People React to Pension Risk

By Nicolas Salamanca, Andries De Grip, Olaf Sleijpen We show that people exposed to greater pension risk are less likely to invest in risky assets. We exploit a reform that links people’s future pension benefits to their pension funds’ funding ratio — a measure of the fund’s financial health — making funding ratios a fund-specific measure of pension risk. The effect of pension risk is stronger for people who are better informed about their pensions, for retirees and pension-age...

May 22, 2020
Articles, Investment, Pension Management, , , ,
Read more...
15May

Firm Behaviour in Pension Funding – An Analysis of Corporate Debt Issuing

By Marion Boddy This study investigates the commonality of United States firms using the issuance of corporate debt as a tool to fund their pension plans. The results suggest a prominence of firms in the sample utilizing debt issuances to transition their fund from underfunded to overfunded. These results are indicated through a statistically significant negative relationship between the cost of debt and an underfunded indicator when regressors are lagged by one year. Results also indicate that equity issuances...

May 15, 2020
Articles, Pension Management, , ,
Read more...

April 2020

18Apr

Pension markets in focus

By OECD The 2019 edition of Pension Markets in Focus provides an overview of the funded and private components of pension systems in 88 jurisdictions and outlines latest developments in the markets worldwide. It exhibits an extensive range of indicators relevant to funded and private pension arrangements, harmonised and standardised across jurisdictions. It monitors the key financial aspects of these arrangements, such as the amount of accumulated assets, the way these assets are invested and their investment performance, both...

April 18, 2020
Books, Pension Management, System Sustainability,
Read more...
18Apr

Pension Funding Index April 2020

By Charles J. Clark and Zorast Wadia Milliman analysis: Corporate pensions in March see surprising $93 billion funded status gain from massive surge in discount rates, despite heavy investment losses Milliman 100 PFI funded ratio improves to 85.6% The funded status of the 100 largest corporate defined benefit pension plans rose by $93 billion during March as measured by the Milliman 100 Pension Funding Index (PFI). The funded status deficit improved to $255 billion at the end of March...

April 18, 2020
Books, Investment, Pension Management, Reports,
Read more...
08Apr

Economic Challenges of Pension Systems : A Sustainability and International Management Perspective

By Marta Peris-Ortiz, José Álvarez-García, Inmaculada Domínguez-Fabián, Pierre Devolder This book examines the major economic challenges associated with the sustainability of public pensions, specifically demographic change, labor-market relations, and risk sharing. The issue of public pensions occupies the political and economic agendas of many major governments in the world. International organizations such as the World Bank and the OECD warn that the economic changes driven by an aging society negatively affects the sustainability of pension systems. This book...

April 8, 2020
Books, Pension Management, System Sustainability,
Read more...

March 2020

20Mar

Insurance against Long-Run Volatility Risk: Demand, Supply, and Pricing

By Chuck Fang Despite its importance implied in asset pricing and macroeconomic models, insurance against long-run volatility risk has received little empirical documentation regarding its demand, supply, or pricing. This paper bridges the gap. First, I show that households have directly purchased large quantities of insurance against long- run volatility risk through the minimum return guarantees available in variable annuities, a form of retail retirement and savings product offered by life insurance companies. Total net assets with such insurance...

March 20, 2020
Articles, Investment, Pension Management
Read more...
13Mar

Public Health and Disasters: Health Emergency and Disaster Risk Management in Asia

By Emily Ying Yang Chan, Rajib Shaw This book presents the health emergency and disaster risk management (H-EDRM) research landscape, with examples from Asia. In recent years, the intersection of health and disaster risk reduction (DRR) has emerged as an important interdisciplinary field. In several landmark UN agreements adopted in 2015–2016, including the Sendai Framework for Disaster Risk Reduction 2015–2030, the 2030 Sustainable Development Goals (SDGs), the Paris climate agreement, and the New Urban Agenda (Habitat III), health is...

March 13, 2020
Books, Pension Management, Savings, ,
Read more...