Risk Archives - Page 33 of 37 - Pension Policy International

19JulJuly 19, 2019

Longevity: a new asset class

By David Blake A little over a decade ago, a new asset classemerged, one linked to longe vity risk, i.e., unanticipatedchanges in life expectancy. The Life Market has two seg-ments: a macro-segment with assets linked to groups of lives,such as members of a pension plan or a book of annuitants;and a micro-segment with assets linked to individual lives,such as life settlements. For the market to become global,certain market requirements need to be satisfied, such asunderstanding the causal factors underlying...

July 19, 2019

Articles, Investing, Pension design, Savings2018, Risk

12JulJuly 12, 2019

Must an Occupational Pension Scheme Take Into Account ESG Factors Even If There Is a Risk of Financial Detriment to the Pension Fund?

By Philip Bennett This paper outlines the legal rules that regulate the investment of the assets of an English law occupational pension scheme set up under trust where the investment powers over those assets are held by the scheme trustee. Those rules derive from a combination of EU Directives (in particular, Article 18 of Directive 2003/41/EC (the “IORP I Directive”) replaced by Article 19 of Directive 2016/2341 (the “IORP II Directive”)), UK legislation transposing those Directives and adding further...

July 12, 2019

Articles, Investment, Pension designESG, Rate of Return, Risk

21JunJune 21, 2019

The Future Shape of Insurance and Risk Management in the Cyber-Physical Space

By W. Jean Kwon For years, the insurance industry was essentially about mathematical quantification and financial transformation of physical risks. But our world has become more interconnected with the advent of the internet, blockchain etc.: as a consequence, cyber risk is expanding rapidly. Here, Prof. W. Jean Kwon looks at how the insurance industry will adapt to the “cyber-physical” world order. Source: SSRN

June 21, 2019

Articles, Pension Management2019, Risk, Technology

14JunJune 14, 2019

The Future of Public Employee Retirement Systems (Pensions Research Council) (English Edition)

By Gary Anderson, Olivia S. Mitchell People covered by public pensions are often the subject of 'pension envy:' that is, their benefits might seem more generous and their contributions lower than those offered by the private sector. Yet this book points out that such judgments are often inaccurate, since civil servants hold jobs with few counterparts in private industry, such as firefighters, police, judges, and teachers. Often these are riskier, dirtier, and demand more loyalty and discretion than would...

June 14, 2019

Books, System Sustainability2019, Funding, Public Pensions, Risk, US

14JunJune 14, 2019

The Effects of Pension-Related Policies on Household Spending

By Susana Párraga Rodríguez This paper estimates the impact of pension-related policies on household spending. The identification strategy exploits the deviation in pensioner income and expenditure caused by the introduction of a new pension system during the 1980s and 1990s in Spain and constructs a new narrative series of legislated pension changes. I present a variety of estimates, some of them imply that increases in the average pension have a roughly one-for-one effect on pensioner spending. The strongest effects...

June 14, 2019

Articles, System SustainabilityFunding, Public Pensions, Risk, Spain

31MayMay 31, 2019

Ensuring Retirement Security with Simple GLIDeS

By Adam Kobor, Arun Muralidhar There is a growing retirement crisis and most of the focus has been on the fact that individuals are not saving enough for retirement, may not have access to pension schemes, or are financially illiterate. More critically, assets/financial products available to investors, may not be appropriate for the typical individual saving for retirement. The goal of retirement is to try to guarantee a target level of income ideally from retirement till death. Current glide...

May 31, 2019

Articles, Investing, Pension design, Savings2019, Income, Replacement Rate, Risk

31MayMay 31, 2019

50 States of Gray: An Innovative Solution to the Defined Contribution Retirement Crisis

By Arun Muralidhar Another retirement crisis is looming as one-third of private-sector, typically poor and unsophisticated workers, probably have little to no pension security. The fifty states have decided to enact reforms, but they are unwilling to assume any liability. Effective reform should ensure a target, guaranteed, inflation/standard-of-living-indexed retirement income through death. The book proposes a four-step reform process that articulates roles, responsibilities, and sequencing of steps to effectively address the looming retirement crisis. Current reform models potentially expose...

May 31, 2019

Books, Investing, Pension design2018, DC Pensions, Funding, Risk

24MayMay 24, 2019

Pension Fund Risk Management: Financial and Actuarial Modeling

By Marco Micocci, Greg N Gregoriou, Giovanni Batista Masala As pension fund systems decrease and dependency ratios increase, risk management is becoming more complex in public and private pension plans. Pension Fund Risk Management: Financial and Actuarial Modeling sheds new light on the current state of pension fund risk management and provides new technical tools for addressing pension risk from an integrated point of view. Divided into four parts, the book first presents the correct measurement of risk...

May 24, 2019

Books, Investing, Pension design2010, Management, Risk

24MayMay 24, 2019

Fundamentals of Investment: A Practitioner’s Guide (English Edition)

By Brian O'Loughlin, Frank O'Brien Post the Financial Crash, the role of regulation and the impact of regulation on all aspects of the financial industry has broadened and intensified. This book offers a comprehensive review of the operations of the industry post-financial crisis from a variety of perspectives. This new edition builds upon the authors’ predecessor book, Fundamentals of Investment: An Irish Perspective. The core of the original text is retained particularly concerning fundamental concepts such as discounted...

May 24, 2019

Books, Investing, Management2019, Risk

17MarMarch 17, 2019

Actuarial Finance: Derivatives, Quantitative Models and Risk Management

By Mathieu Boudreault, Jean-Francois RenaudA Drs. Boudreault and Renaud answer the need for a clear, application-oriented guide to the growing field of actuarial finance with this volume, which focuses on the mathematical models and techniques used in actuarial finance for the pricing and hedging of actuarial liabilities exposed to financial markets and other contingencies. With roots in modern financial mathematics, actuarial finance presents unique challenges due to the long-term nature of insurance liabilities, the presence of mortality or other contingencies...

March 17, 2019

Books, Investing, Management2019, Risk

July 2019

Longevity: a new asset class

Must an Occupational Pension Scheme Take Into Account ESG Factors Even If There Is a Risk of Financial Detriment to the Pension Fund?

June 2019

The Future Shape of Insurance and Risk Management in the Cyber-Physical Space

The Future of Public Employee Retirement Systems (Pensions Research Council) (English Edition)

The Effects of Pension-Related Policies on Household Spending

May 2019

Ensuring Retirement Security with Simple GLIDeS

50 States of Gray: An Innovative Solution to the Defined Contribution Retirement Crisis

Pension Fund Risk Management: Financial and Actuarial Modeling

Fundamentals of Investment: A Practitioner’s Guide (English Edition)

March 2019

Actuarial Finance: Derivatives, Quantitative Models and Risk Management