The Role of Guarantees in Defined Contribution Pensions:
This paper examines the role of guarantees in DC pension plans, in particular minimum investment return guarantees during the accumulation phase. The main goal is to assess the cost and benefits of different return guarantees. The report uses a stochastic financial market model where guarantee claim...
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| Weitere Verfasser: | , , |
| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
Paris
OECD Publishing
2011
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| Schriftenreihe: | OECD Working Papers on Finance, Insurance and Private Pensions
no.11 |
| Schlagworte: | |
| Online-Zugang: | Volltext |
| Zusammenfassung: | This paper examines the role of guarantees in DC pension plans, in particular minimum investment return guarantees during the accumulation phase. The main goal is to assess the cost and benefits of different return guarantees. The report uses a stochastic financial market model where guarantee claims are calculated as a financial derivative in a financial market framework (like e.g. the valuation of a put option). In this context, the report highlights the value of capital guarantees that protect the nominal value of contributions in DC pension plans. However, such guarantees can only be introduced relatively easily in the very specific context considered in this report. Allowing plan members vary contribution periods or investment strategies, or change providers, would raise major challenges for an effective and efficient implementation of return guarantees in a DC context. This would increase the complexity and cost of administering the guarantee. |
| Beschreibung: | 1 Online-Ressource (31 p.) 21 x 29.7cm. |
| DOI: | 10.1787/5kg52k5b0v9s-en |
Internformat
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| indexdate | 2024-11-26T14:56:02Z |
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| spelling | Antolín, Pablo VerfasserIn aut The Role of Guarantees in Defined Contribution Pensions Pablo, Antolín ... [et al] = Le rôle de garanties dans les plans de retraite à cotisations définies / Pablo, Antolín ... [et al] Le rôle de garanties dans les plans de retraite à cotisations définies Paris OECD Publishing 2011 1 Online-Ressource (31 p.) 21 x 29.7cm. Text txt rdacontent Computermedien c rdamedia Online-Ressource cr rdacarrier OECD Working Papers on Finance, Insurance and Private Pensions no.11 This paper examines the role of guarantees in DC pension plans, in particular minimum investment return guarantees during the accumulation phase. The main goal is to assess the cost and benefits of different return guarantees. The report uses a stochastic financial market model where guarantee claims are calculated as a financial derivative in a financial market framework (like e.g. the valuation of a put option). In this context, the report highlights the value of capital guarantees that protect the nominal value of contributions in DC pension plans. However, such guarantees can only be introduced relatively easily in the very specific context considered in this report. Allowing plan members vary contribution periods or investment strategies, or change providers, would raise major challenges for an effective and efficient implementation of return guarantees in a DC context. This would increase the complexity and cost of administering the guarantee. Finance and Investment Social Issues/Migration/Health Payet, Stéphanie MitwirkendeR ctb Whitehouse, Edward MitwirkendeR ctb Yermo, Juan MitwirkendeR ctb FWS01 ZDB-13-SOC FWS_PDA_SOC https://doi.org/10.1787/5kg52k5b0v9s-en Volltext |
| spellingShingle | Antolín, Pablo The Role of Guarantees in Defined Contribution Pensions Finance and Investment Social Issues/Migration/Health |
| title | The Role of Guarantees in Defined Contribution Pensions |
| title_alt | Le rôle de garanties dans les plans de retraite à cotisations définies |
| title_auth | The Role of Guarantees in Defined Contribution Pensions |
| title_exact_search | The Role of Guarantees in Defined Contribution Pensions |
| title_full | The Role of Guarantees in Defined Contribution Pensions Pablo, Antolín ... [et al] = Le rôle de garanties dans les plans de retraite à cotisations définies / Pablo, Antolín ... [et al] |
| title_fullStr | The Role of Guarantees in Defined Contribution Pensions Pablo, Antolín ... [et al] = Le rôle de garanties dans les plans de retraite à cotisations définies / Pablo, Antolín ... [et al] |
| title_full_unstemmed | The Role of Guarantees in Defined Contribution Pensions Pablo, Antolín ... [et al] = Le rôle de garanties dans les plans de retraite à cotisations définies / Pablo, Antolín ... [et al] |
| title_short | The Role of Guarantees in Defined Contribution Pensions |
| title_sort | role of guarantees in defined contribution pensions |
| topic | Finance and Investment Social Issues/Migration/Health |
| topic_facet | Finance and Investment Social Issues/Migration/Health |
| url | https://doi.org/10.1787/5kg52k5b0v9s-en |
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