Global ETD Search
Search theses and dissertations gathered from participating repositories worldwide. Every result links back to the library that holds it. No account is needed.
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Showing 1 to 20 of 36 for “"Defined Benefit"”.
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Risk management and decision making in defined benefit pension schemes
stochastic approach to decision-making in defined benefit pension schemes is presented. Existing decision-making tools in the form of actuarial valuations and asset and liability modelling are discussed. These tools are shown to be inadequate to fully address the objectives of the various …
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An exploration of the governance and accountability of UK defined benefit pension schemes
… booklets, the pension scheme web-site and annual benefit statements. In doing so, the evidence suggests that, in terms of Stewart’s (1984) model, accountability for probity and legality, process, performance and policy accountability is discharged. The evidence also suggests that, with the …
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Estimating the risks in defined benefit pension funds under the constraints of PF117
… regulation required valuation assumptions for defined benefit pension funds to be on a best-estimate basis. Allowance for prudence was to be made through explicit contingency reserves, in order to increase reporting transparency. These reserves for prudence, however, were not permitted to put …
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The impact of second pillar pensions on a Maltese family-run business
… business's financial statements, focusing on Defined Benefit and Defined Contribution plans. It uses IAS 19 accounting rules and various scenarios to analyse the financial implications of each pension plan possibility. Design: The actuary meticulously documented their thought process in a …
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Dynamic pension funding models
… stochastic dynamic pension funding models for defined benefit schemes within the mathematical framework of optimal control theory and dynamic programming. The practical implementation of these dynamic models into one of the largest Egyptian defined, benefit occupational pension schemes - as a …
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AN EMPIRICAL ANALYSIS OF PENSIONS FOR THE LABOR MARKET
… on firm productivity when a firm terminates a defined benefit plan and replaces it with a defined contribution plan. The empirical analysis was done using the data set discussed in Chapter 1. The empirical results show that when performing two-step estimations and comparing one group of firms …
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Three essays on consumer finance
… Little empirical evidence exists about the benefits of these laws to consumer outcomes, relative to the potential compliance costs. This chapter studies the effect of two common types of consumer protection laws: seller standards of conduct, enforced through ex post lawsuits by prosecutors …
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Pensions, corporate finance, and public policy
… The first chapter exploits the funding rules for defined benefit pension plans in order to identify the dependence of corporate investment on internal financial resources. Capital expenditures decline with mandatory pension contributions, even when allowing for very generalized correlations …
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An Examination of the Effect of Disclosures Concerning Unfunded Pension Benefits on Market Risk Measures
… of the financial risk of firms sponsoring defined benefit pension plans. This study was undertaken to determine (1) if firms subject to the mandates of ERISA experienced shifts in systematic risk subsequent to the passage of ERISA; (2) if unfunded pension benefit measures appear to be …
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Creating an adaptive asset allocation fund to outperform inflation in the South African financial market
… a balanced fund and a hedge fund. The move from defined benefit to defined contribution pension funds and the impact this has had on consulting actuaries risk appetites is visited. My concern in this regard is that capital preservation is being maximised, at the expense of capital growth, without …
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Anlagestrategien für Pensionsvermögen im Rahmen von Contractual Trust Arrangements
Die vorliegende Arbeit behandelt die Anlage von Pensionsvermögen im Rahmen von Contractual Trust Arrangements. Es wird untersucht, welche Anlagestrategien sich unter Berücksichtigung bilanzieller, verpflichtungs- und vermögensseitiger Rahmenbedingungen zur Anlage von Pensionsvermögen eignen. Anhand …
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Anlagestrategien für Pensionsvermögen im Rahmen von Contractual Trust Arrangements
Die vorliegende Arbeit behandelt die Anlage von Pensionsvermögen im Rahmen von Contractual Trust Arrangements. Es wird untersucht, welche Anlagestrategien sich unter Berücksichtigung bilanzieller, verpflichtungs- und vermögensseitiger Rahmenbedingungen zur Anlage von Pensionsvermögen eignen. Anhand …
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Racial differences in households' financial asset allocation, 1992-2004
… (income, wealth, working status, having defined benefit plans vs. having defined contribution plans, inheritance, homeownership and business ownership) and an attitudinal factor (risk tolerance). Race has four categories: white, black, Hispanic and others. To fully analyze racial …
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A comparison of the returns of 'Regulation 28' compliant and non-compliant funds in South Africa
The shift from defined benefit to defined contribution plans has exposed pensioners to a number of new risks which the South African government has been encouraged to mitigate through the aggressive implementation of retirement fund regulations. This study specifically focuses on the effect of …
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Management Survival Strategies and the Decision to Reduce Pension Plan Funding: An Empirical Test (Tax)
Many firms have reduced funding of defined benefit pension plans by either contracting or terminating the plans. These actions have raised both accounting and regulatory concerns. From an accounting standpoint, the nature of the transaction must be reported in a fair and representationally faithful …
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A mathematical model for managing equity-linked pensions
… return for their contributions, members expect a benefit at termination of their contract. Due to the volatile nature of returns that pension funds attain, pension companies started attaching a minimum guaranteed amount to member’s benefits. In this mini-thesis we look at the pioneering work of …
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Asset Liability Management (ALM) em RPS: uma análise do Instituto de Previdência dos Servidores Municipais de Cabedelo - PB (IPSEMC)
… pension fund of social security, specifically in defined benefit plans. In this regard, risk management becomes an important tool in the process, in order to avoid the risk of mismatch between assets and liabilities and thus maintain the financial and actuarial balance. The choice of management …
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On modelling volatility and mortality for pension schemes
… of volatility and mortality were analysed on defined benefit (DB), defined contribution (DC) and hybrid schemes to evaluate the fund value and actuarial liabilities. This research underlined the important role that econometric volatility modelling and stochastic mortality modelling can play in …
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Discrete and continuous time methods of optimization in pension fund management
… its own set of rules when calculating the benefits of the fund’s members at retirement. Whichever plan the manager chooses for the members,he/she will have to invest their contributions in the financial market. The manager is therefore faced with the daunting task of selecting the most …
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Christmas in July: How Pension Funding Changes of the 2012 Budget Created a Second Set of Abnormal Returns for Firms
… on research by others regarding the potential benefits this legislation created by these pension funding changes for companies and their shareholders. Reduction of pension contributions provides firms additional dollars that are available to be used at the firm’s discretion. Possible uses of …
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