NDLI: Intergenerational risk sharing within funded pension schemes

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Intergenerational risk sharing within funded pension schemes

Content Provider	Scilit
Author	Cui, Jiajia Jong, Frank D. E. Ponds, Eduard
Copyright Year	2010
Description	Is intergenerational risk sharing desirable and feasible in funded pension schemes? Using a multi-period OLG model, we study risk sharing between generations for a variety of realistic collective funded pension schemes, where pension benefits and contributions may depend on the funding ratio and the asset returns. We find that well-structured intergenerational risk sharing via collective schemes can be welfare-enhancing vis-à-vis the optimal individual benchmark. Moreover, from an ex ante perspective the expected welfare gain of the current entry cohort is not at the cost of the older and future cohorts.
Related Links	http://pdfs.semanticscholar.org/496a/590f3e8b3581e76a14f32b6f53072a486799.pdf https://www.cambridge.org/core/services/aop-cambridge-core/content/view/125103E8FE51D615D3AFA3BC5C4BED1B/S1474747210000065a.pdf/div-class-title-intergenerational-risk-sharing-within-funded-pension-schemes-div.pdf
ISSN	14747472
e-ISSN	14753022
DOI	10.1017/s1474747210000065
Journal	Journal of Pension Economics and Finance
Issue Number	1
Volume Number	10
Language	English
Publisher	Cambridge University Press (CUP)
Publisher Date	2011-01-01
Access Restriction	Open
Subject Keyword	Journal of Pension Economics and Finance Agricultural Economics Asset Allocation Zero Sum Game Market Value Fair Value
Content Type	Text
Resource Type	Article
Subject	Finance Economics and Econometrics Organizational Behavior and Human Resource Management

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