Beschreibung:
The issue of unfunded public pension systems has moved to the centre of public debate all over the world. Unfortunately, a large part of the discussions have remained on a qualitative level. This book seeks to address this by providing detailed knowledge on modelling pension systems.
Introduction PART I: MICRO LEVEL Life Cycle Life Insurance with Life Annuity Fully Funded Systems Unfunded Systems Mixed Systems Contributions, Taxes and Inflation PART II: MACRO LEVEL Demographic Processes Macroeconomics of Pension Systems Transition Between Pension Systems Distribution of Pensions PART III: SPECIAL TOPICS Optimal consumption Path Flexible Retirement A Closed Model of Overlapping Cohorts Macroeffects of Combined Indexation