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BOOK EXCERPT:
This is an open access title available under the terms of a CC BY-NC-ND 4.0 International licence. It is free to read at Oxford Scholarship Online and offered as a free PDF download from OUP and selected open access locations. Notwithstanding the terrible price the world has paid in the coronavirus pandemic, the fact remains that longevity at older ages is likely to continue to rise in the medium and longer term. This volume explores how the private and public sectors can collaborate via public-private partnerships (PPPs) to develop new mechanisms to reduce older people's risk of outliving their assets in later life. As this volume shows, PPPs typically involve shared government financing alongside private sector partner expertise, management responsibility, and accountability. In addition to offering empirical evidence on examples where this is working well, contributors provide case studies, discuss survey results, and examine a variety of different financial and insurance products to better meet the needs of the aging population. This volume will be informative to researchers, plan sponsors, students, and policymakers seeking to enhance retirement plan offerings.
Product Details :
Genre |
: Law |
Author |
: Olivia S. Mitchell |
Publisher |
: Oxford University Press |
Release |
: 2022 |
File |
: 353 Pages |
ISBN-13 |
: 9780192859808 |
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BOOK EXCERPT:
"Notwithstanding the terrible price the world has paid in the Coronavirus pandemic, the fact remains that longevity at older ages is likely to continue to rise in the medium and longer term. This volume explores how the private and public sectors can collaborate via public-private partnerships (PPPs) to develop new mechanisms to reduce older people’s risk of outliving their assets in later life. As we show in this volume, PPPs typically involve shared government financing alongside private-sector partner expertise, management responsibility, and accountability. In addition to offering empirical evidence on examples where this is working well, our contributors provide case studies, discuss survey results, and examine a variety of different financial and insurance products to better meet the needs of the aging population. The volume will be informative to researchers, plan sponsors, students, and policymakers seeking to enhance retirement plan offerings"--Publisher's description.
Product Details :
Genre |
: Longevity |
Author |
: Olivia S. Mitchell |
Publisher |
: |
Release |
: 2022 |
File |
: 0 Pages |
ISBN-13 |
: 0191953105 |
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BOOK EXCERPT:
Regulatory and market developments have transformed the way in which UK private sector pension schemes operate. This has increased demands on trustees and advisors and the trusteeship governance model must evolve in order to remain fit for purpose. This volume brings together leading practitioners to provide an overview of what today constitutes good governance for pension schemes, from both a legal and a practical perspective. It provides the reader with an appreciation of the distinctive characteristics of UK occupational pension schemes, how they sit within the capital markets and their social and fiduciary responsibilities. Providing a holistic analysis of pension risk, both from the trustee and the corporate perspective, the essays cover the crucial role of the employer covenant, financing and investment risk, developments in longevity risk hedging and insurance de-risking, and best practice scheme administration.
Product Details :
Genre |
: Law |
Author |
: Paul Thornton |
Publisher |
: Cambridge University Press |
Release |
: 2011-07-14 |
File |
: 323 Pages |
ISBN-13 |
: 9781139500333 |
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BOOK EXCERPT:
The essential guide to quantifying risk vs. return has been updated to reveal the newest, most effective innovations in financial risk management Written for risk professionals and non-risk professionals alike, this easy-to-understand guide helps readers meet the increasingly insistent demand to make sophisticated assessments of their company’s risk exposure Provides the latest methods for measuring and transferring credit risk, increase risk-management transparency, and implement an organization-wide Enterprise risk Management (ERM) approach The authors are renowned figures in risk management: Crouhy heads research and development at NATIXIS; Galai is the Abe Gray Professor of Finance and Business Asdministration at Hebrew University; and Mark is the founding CEO of Black Diamond Risk
Product Details :
Genre |
: Business & Economics |
Author |
: Michel Crouhy |
Publisher |
: McGraw Hill Professional |
Release |
: 2013-12-06 |
File |
: 669 Pages |
ISBN-13 |
: 9780071821155 |
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Seminar paper from the year 2015 in the subject Business economics - Investment and Finance, grade: 1.7, University of Frankfurt (Main) (Faculty of Economics and Business Administration), language: English, abstract: Assurance companies face two main risk factors in the process of pricing annuity products namely the interest risk and the longevity risk. There are numerous products and possibilities for the insurers to hedge their interest risk using interest derivatives and long bonds. Hedging products against the longevity risk is uncommon but insurers have to take it into account when they are pricing their annuity products. There are two types of longevity risks. On the one hand the idiosyncratic longevity risk and on the other hand the systematic longevity risk. With regards to the idiosyncratic longevity risk, individuals are faced with the issue that they need to invest in assets for their retirement in spite of an uncertain span of lifetime and thus an uncertain investment horizon. Pricing of life annuities could be done according to corresponding mortality tables. If the clients of an insurer die on average according to mortality rates provided by such tables, the revenues of the insurer should be sufficient to ensure the payments for the clients who are still alive. The issue out of a pension fund perspective is that longevity has been improving over time and clients could live longer than anticipated. These improvements occurred in an unpredictable way, especially at higher ages according to Cairns et al. (2006). Insurers therefore made false calculations of the insurance premium and suffered losses due to pensioners living longer than anticipated. The systematic longevity risk is based on the stochastic variation of mortality. The future development of life expectancy will be highly unpredictable due to medical improvements or discoveries in genetic research. For that reason insurers need stochastic models to quantify the systematic mortality changes over time and to make a prediction about future mortality in order to prevent losses caused by longevity risk. This paper will firstly discuss the literature regarding the Lee and Carter one factor model and the relevance of longevity risk for annuity pricing. Second this paper aims to estimate the stochastic two-factor model by Cairns, Blake and Dowd (2006) (CBD) for U.S. males from 1933 to 2010 by running a simulation to predict average mortality for the year 2030. In the further course will this stated prediction be used to price an annuity product followed by a brief conclusion and summary of results.
Product Details :
Genre |
: Business & Economics |
Author |
: Lasse Erdweg |
Publisher |
: GRIN Verlag |
Release |
: 2015-11-24 |
File |
: 24 Pages |
ISBN-13 |
: 9783668094284 |
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Product Details :
Genre |
: OECD countries |
Author |
: |
Publisher |
: |
Release |
: 2012 |
File |
: 244 Pages |
ISBN-13 |
: STANFORD:36105213395168 |
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Product Details :
Genre |
: Dissertations, Academic |
Author |
: |
Publisher |
: |
Release |
: 2007 |
File |
: 614 Pages |
ISBN-13 |
: STANFORD:36105123442522 |
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Product Details :
Genre |
: Industrial management |
Author |
: Institute for Operations Research and the Management Sciences. National Meeting |
Publisher |
: |
Release |
: 2009 |
File |
: 644 Pages |
ISBN-13 |
: CORNELL:31924083441752 |
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Product Details :
Genre |
: Insurance |
Author |
: |
Publisher |
: |
Release |
: 2008 |
File |
: 258 Pages |
ISBN-13 |
: UIUC:30112099255231 |
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BOOK EXCERPT:
Product Details :
Genre |
: Economics |
Author |
: |
Publisher |
: |
Release |
: 2001 |
File |
: 806 Pages |
ISBN-13 |
: UCSD:31822024989147 |