Finance and occupational pensions theories and international evidence /
Occupational pensions are major participants in global financial markets with assets of well over $30 trillion, representing more than 40% of the assets of institutional investors. Some occupational pension funds control assets of over $400 billion, and the largest 300 occupational pension funds eac...
| Main Author: | Sutcliffe, Charles M. S. |
|---|---|
| Other Authors: | SpringerLink (Online service) |
| Format: | eBook |
| Language: | English |
| Published: |
London :
Palgrave Macmillan,
[2016]
London : [2016] |
| Physical Description: |
1 online resource : illustrations (some color) |
| Subjects: |
Table of Contents:
- About the Author; Contents; List of Figures; List of Tables; 1: Introduction to Pension Schemes; 1.1 The Three Pillars; 1.2 Replacement and Coverage Rates; 1.3 Funded Versus Unfunded Schemes; 1.4 Macroeconomic and Inter-generational Considerations; 1.5 Pension Scheme Membership; 1.6 Main Types of Occupational Scheme; 1.7 The Tax Benefits of Pensions; 1.8 Life Expectancy; 1.9 Auto-Enrolment [sic]; References; 2: Selected Pension Scheme Topics; 2.1 Why Do Employers Provide Pension Schemes?; 2.2 The Death of DB Schemes; 2.3 The Shift from DB to DC Schemes; 2.4 Problems with DC Schemes.
- 2.5 Pensions Buy-outs and Buy-ins; 2.6 Closed or Frozen Schemes; 2.7 Dealing with Rising Longevity; 2.8 Pension Scheme Insurance; 2.9 The Design of Pension Schemes; Advantages to the Sponsor of Switching to a CARE Scheme; Advantages to Members of Switching to a CARE Scheme; Disadvantages to the Sponsor of Switching to a CARE Scheme; Disadvantages to Members of Switching to a CARE Scheme; 2.10 Age and Uniform Contribution and Accrual Rates; 2.11 Compulsory Occupational Pension Scheme Membership; 2.12 Redistribution by Pension Schemes; 2.13 Economies of Scale; Chinese Pensions.
- 5.1 A Simple Annuity; 5.2 Voluntary and Compulsory Annuities; 5.3 The Importance of Annuities; 5.4 A Simple Annuity Pricing Model; 5.5 Other Influences on Annuity Prices; 5.6 Mortality Discount, Mortality Credit or Mortality Drag; 5.7 Tontines; 5.8 Reasons for Buying an Annuity; 5.9 The Annuity Puzzle; 5.10 Some Partial Explanations for the Annuity Puzzle; 5.11 Evaluating Annuity Prices; 5.12 Some Other Types of Annuity; 5.13 Annuity Timing Decision; 5.14 The Annuity Decision and the OMO; 5.15 Historical Perspective on Mortality Tables; 5.16 Long-Term Care and Adverse Selection.
- 5.17 Did Joint Life Annuities Indirectly Cause the Credit Crisis?; 5.18 Guaranteed Annuity Rates (GAR); 5.19 Deferred Annuities; 5.20 A Long-Term Solution? Single Premium Deferred Annuities (SPDA); References; Appendix; Appendix 1: Examples of Asset Backed Funding in the UK Over £50 million; Appendix 2: Some Large Buy-outs, Buy-ins and Longevity Swaps; Appendix 3: Example of the Valuation of a Simple Annuity; Appendix 4: Gompertz 9% Rule
- Example for Ages 35-95; References; Index.