The relationship between mobility of vested plan participants and the use of reciprocity agreements in multiemployer plans was investigated. The assumption that pension benefit forfeiture retards worker mobility was considered. The assumption that worker mobility is enhanced by benefit preservation is one of the justifications for tax incentives provided retirement plans. Several variables were considered in addition to the use or nonuse of reciprocity agreements; however, none of the variables were found to be significantly related to the turnover rate for vested plan participants in multiemployer plans. The primary conclusion of the research was that the hypothesis that benefit preservation through the use of reciprocity agreements in multiemployer plans is ineffective in increasing turnover for vested plan participants could not be rejected. / Ph. D.

Yes / The redesign of defined benefit pension schemes usually results in a substantial redistribution of wealth between age cohorts of members, pensioners, and the sponsor. This is the first study to quantify the redistributive effects of a rule change by a real world scheme (the Universities Superannuation Scheme, USS) where the sponsor underwrites the pension promise. In October 2011 USS closed its final salary scheme to new members, opened a career average revalued earnings (CARE) section, and moved to ‘cap and share’ contribution rates. We find that the pre-October 2011 scheme was not viable in the long run, while the post-October 2011 scheme is probably viable in the long run, but faces medium term problems. In October 2011 future members of USS lost 65% of their pension wealth (or roughly £100,000 per head), equivalent to a reduction of roughly 11% in their total compensation, while those aged over 57 years lost almost nothing. The riskiness of the pension wealth of future members increased by a third, while the riskiness of the present value of the sponsor’s future contributions reduced by 10%. Finally, the sponsor’s wealth increased by about £32.5 billion, equivalent to a reduction of 26% in their pension costs. / The full text will be available at the end of the publisher's embargo; Oct 16 2017

L'appauvrissement engendré par une séparation ou un divorce fait en sorte que la pension alimentaire pour enfants est indispensable pour maintenir le niveau de vie de l ' enfant. Toutefois, ce ne. sont pas toutes les mères monoparentales qui effectuent la demande d'une pension alimentaire pour enfants auprès du père de leurs enfants. Des organismes communautaires et gouvernementaux étant susceptibles d'avoir des contacts avec ces mères ont donc été rencontrés afin d'obtenir une meilleure compréhension de l'état de la situation au Québec. En effet, les éléments relevés dans la littérature proviennent majoritairement de données américaines, alors que l'état du droit est très différent ici . L'étude a donc permis d'identifier des raisons et contraintes qui expliquent l'absence d'une demande de pension alimentaire pour enfants au Québec, en ce moment, et de relever des pistes de solution qui pourraient éventuellement être mise en oeuvre pour augmenter le nombre de mères monoparentales qui effectuent la demande d'une pension alimentaire pour enfants.

Thesis (MDF (Development Finance))--University of Stellenbosch, 2010. / ENGLISH ABSTRACT: Infrastructure and related services are crucial for facilitating economic activities, creating employment opportunities and generating economic growth. The African continent has a huge infrastructure gap estimated by the World Bank at US$75 billion per annum. However, the current levels of public sector resources and foreign capital inflows in Africa are insufficient to fund this infrastructure gap. Africa, therefore, needs to explore new sources of funding to finance its infrastructure backlog. It is then natural that Africa should encourage the private sector to invest in the infrastructure sector. According to the Organisation for Economic Cooperation and Development (OECD), the worldwide funded pensions market is about US$24.6 trillion of which US$16.2 trillion is held by pension funds (Inderst, 2009). Infrastructure investments provide important benefits including long-term and inflation-hedged cash revenues which are compatible with pension fund interests. Pension funds around the world have been already investing in infrastructure assets, for example in Latin America, Australia, Canada and the United States of America (US) amongst others. However, such experiences of pension fund participation in infrastructure financing in Africa are very rare. Anecdotal evidence suggests that African pension funds currently manage assets of about US$300 billion. If a small portion of the pension fund assets could be invested in infrastructure projects in Africa, the continent’s infrastructure gap could be partly addressed. The New Partnership for Africa’s Development (NEPAD), a programme of the African Union, seeks to address the infrastructure gap and mobilise the necessary resources domestically and from outside the continent. NEPAD, together with the African Development Bank (AfDB) and the regional economic communities, has developed an Infrastructure Plan for Africa. This study explores the possibility of utilising some of the Africa pension fund assets for infrastructure investments especially in the NEPAD infrastructure projects. The global trends in pension fund investments in infrastructure are reviewed to propose a model for infrastructure investments by African pension funds and some recommendations are put forward on how to increase such investments. AFRIKAANSE OPSOMMING: Infrastruktuur en verwante dienste is krities vir die fasilitering van ekonomiese aktiwiteite, die skep van werksgeleenthede en om ekonomiese groei te genereer. Die Afrika-kontinent het ’n groot infrastruktuur-gaping wat deur die Wêreldbank op US$75 biljoen per jaar beraam word. Die huidige vlakke van openbare-sektor hulpbronne en buitelandse kapitaalinvloei is egter onvoldoende om hierdie infrastruktuur-gaping te befonds. Afrika moet daarom nuwe bronne vir befondsing ondersoek om sy infrastruktuur agterstand te befonds. Dit is dan natuurlik dat Afrika die privaatsektor sal aanmoedig om in die infrastruktuur-sektor te belê. Volgens die Organisasie vir Ekonomiese Samewerking en Ontwikkeling (OECD), is die wêreldwye pensioenmark omtrent US$24.6 triljoen waarvan US$16.2 triljoen deur pensioenfondse gehou word (Inderst, 2009). Infrastruktuur-beleggings bied belangrike voordele insluitend langtermyn- en inflasie-verskanste kontantinkomstes wat versoenbaar is met pensioenfonds belange. Pensioenfondse regoor die wêreld het alreeds begin om in infrastruktuurbates te belê, byvoorbeeld in Latyns-Amerika, Australië, Kanada en in die Verenigde State van Amerika. Sulke gevalle van pensioenfonds deelname aan infrastruktuur-finansiering in Afrika is egter seldsaam. Daar word gespekuleer dat Afrika se pensioenfondse tans bates bestuur van ongeveer US$300 biljoen. As ’n klein gedeelte van die pensioenfondsbates in infrastruktuur-projekte in Afrika belê kon word, sou die kontinent se infrastruktuur-gaping gedeeltelik aangespreek word. Die nuwe vennootskap vir Afrika se ontwikkeling (New Partnership for Africa’s Development, NEPAD), ‘n program van die Afrika Unie, streef daarna om die infrastruktuur gaping aan te spreek en die nodige hulpbronne binnelands en van buite die kontinent te mobiliseer. NEPAD, tesame met die Afrika Ontwikkelingsbank (AfDB) en die streek se ekonomiese gemeenskappe, het ’n infrastruktuur-plan vir Afrika ontwikkel. Hierdie studie ondersoek die moontlikheid om ’n gedeelte van Afrika se pensioenfondsbates vir infrastruktuur-beleggings aan te wend, veral in die NEPAD infrastruktuur-projekte. Die wêreldwye neigings in pensioenfondsbeleggings in infrastruktuur word ondersoek om ’n model voor te stel vir infrastruktuur-beleggings deur Afrika pensioenfondse en ’n paar aanbevelings word gemaak om sodanige beleggings te verhoog.

82年台灣已邁入「高齡化」的社會型態，到了96年底時老年人口占人口比例達10.2％。另根據台閩地區2007年簡易生命表台灣男性平均餘命為75.46歲，女性為81.72歲，平均78.38歲，因應台灣進入高齡化及少子女化社會，如何讓勞工安享在60歲以後平均有18多年無工作收入的老年生活，已成為當前最重要問題。 為落實老年照護制度，增進勞工退休權益，陸續完成了勞工退休金條例、國民年金法及勞工保險條例修法之工作，其中將於98年1月1日實施勞工保險老年給付年金制，考量勞工保險已實施50多年，許多資深勞工已符合或將符合老年給付條件，且國人多具「入袋為安」之傳統觀念，在兼顧勞工權益及制度穩定之原則下，採現制一次給付與年金制併行方式，賦予現有被保險人於退職時選擇請領現制或新制之權利。 藉由本研究的撰寫，針對勞工保險老年給付選制行為三大變數，模擬試算出各種組合變數下的理性選擇建議，讓即將辦理退休的勞工能夠更明確更瞭解兩種給付的不同，並做正確的選擇，以確保退休生活品質。 本研究建議增加勞工保險老年給付選制及國民年金給付條件，做為將來修法的參考。 / Abstract In 1993, Taiwan entered the state of aging society. By the end of 2007, the elderly population above the age of 65 years accounted for 10.2% of the total population. The 2007 life table of the Taiwan-Fukien Area gave the life expectancy of 75.46 years for males and 81.72 years for females, averaging 78.36 years for both sexes. How to assure the laborers to live happily in their old age for an average of 18 some more years after retirement without job and incomes in an aged and fewer-children society has become an important issue. To realize the care system for the elderly, and to improve the rights and interests of the laborers after retirement, work has been done to enact the Labor Pension Act and the National Pension Act, and amend the Labor Insurance Act. The Labor Insurance Old-Age Pension system will be implemented in January 2009. The Labor Insurance has been in operation for more than 50 years. Many elderly laborers are eligible to or about to be eligible to the old-age payment. In line with the traditional concept of “safer to have cash in pocket”, and taking in mind the rights and interests of the laborers and the stability of the system, the old-age pension system will have concurrently either the “one-time payment under the current system” and the “monthly pension” system in practice. The retirees will have the choice of either the current system or the new system. The present study uses three variables in the choice of the old-age pension system to simulate the ideal choice and make recommendations under various combinations of variables to help laborers about to retire correctly understand the pros and cons of the two different payment systems and thus to make correct choice, and to assure the quality of their retirement life. The study recommends that, for the future amendments of regulations, more alternative systems for choice for old-age payment and more conditions for the national pension system be made available. Key words: Labor Insurance, National Pension, Labor Pension Act, Labor Standards Act

In the present work we study the economic capital of pension funds and their possible extension into the new concept of Solvency II. The main task is to examine the risks that are characteristic for pension fund activity. We use several modified stress simulations, which we model using a virtual model of pension fund. Primarily we focus on changes in net asset value (NAV) which is used in standard formula for calculation of the solvency capital requirement (SCR). In conclusion, we evaluate the possible impact of applications Solvency II to pension funds, the resulting economic capital and solvency of modeled pension fund.

L’union juridique formée par deux personnes qui vivent en couple se fonde sur l’existence d’une communauté de vie, dont le droit français consacre trois modes d’organisation : le mariage, le pacte civil de solidarité et le concubinage. L’intensité de cette communauté varie selon le mode de conjugalité et chacun constitue, par conséquent, une inégale source de solidarité. Ce soutien, à la fois matériel et moral, ne résiste pas à la dissolution de l’union qui constitue dès lors, dans certains cas, la source d’un préjudice ou d’un état de besoin.Dans le but de les compenser, le droit met en œuvre une indemnisation, lors de la rupture. Ce transfert de valeurs prend la forme de dommages-intérêts, d’une prestation compensatoire et d’une indemnité in rem verso. Toutefois, après avoir assisté au recul de la faute, ainsi qu’à l’avènement d’une responsabilité objective, c’est tout le système de la compensation-indemnisation qui décline et ne semble plus adapté à l’union telle qu’on la conçoit, libéralisée dans sa dissolution et émancipatrice des individus. Ce déclin incite à rechercher l’existence d’une autre méthode de compensation.L’extinction du lien conjugal dissout la communauté de vie, sans que les effets déjà produits ne soient remis en cause. Or, tout au long de la vie commune, l’union provoque la mutualisation d’un certain nombre de richesses, qu’il convient de partager. Cette redistribution, réalisée par l’intermédiaire d’une communauté, d’une indivision ou d’une société a pour effet de compenser l’éventuelle disparité patrimoniale. Lorsque cette compensation est insuffisante ou ne permet pas à l’un des conjoints de subvenir à ses besoins, c’est une redistribution minimale que le droit organise, en tirant profit des biens présents dans le patrimoine de l’un, pour attribuer des droits utiles à l’autre, notamment sur l’immeuble affecté au logement. Ces deux formes de distribution constituent les manifestations d’un nouveau modèle : la compensation-distribution. / The legal union formed by two persons living as a couple is based on the existence of a joint living for which French Law sanctions three modes of organization: marriage, civil partnership and cohabitation. The intensity of this community depends on the nature of conjugality. As a consequence, each of the presented modes of organization consists of an uneven source of solidarity. Solidarity is both material and moral, and does not survive the dissolution of the union, which therefore denotes, in some cases, a source of damage or a state of necessity. In order to compensate this situation, French Law provides for compensation when couples break up. This transfer of value takes the form of damages, of a spousal support or of an in rem verso compensation. However, as a consequence of the decline of fault and the accession of an objective liability, the whole compensation system is deteriorating and no more seems suitable for the union the way it is understood, i.e. liberal in its break up and liberated from individuals. This decline encourages us to look for the existence of other compensation methods. The termination of the marital bond dissolves the joint living without prejudice to the effects already produced. Yet, throughout the shared life, the union causes a certain mutual wealth that needs to be divided. This redistribution, made trough a community, a joint ownership or a company, ends up compensating the possible disparity in property. When the compensation is insufficient or cannot permit one of the spouses to support themselves, the Law organizes a minimal redistribution, taking into account the present assets of a spouse in order to grant a useful right to the other, especially concerning accommodation. Those two forms of distribution represent the expression of a new model: the distributive compensation.

Non contributory periods is one of the key issues in the public discussion on the planned reform of the pension system in the Czech Republic and is being widely discussed by economists, social scientists and political representatives. The PhD thesis focuses on a detailed analysis of non-contributory periods in the Czech pension system and their impact on pension system balance and micro and macro economic connections. It includes an international comparison of non contributory periods and a minute description of one selected non contributory period -- child care in selected European countries. The extent of non contributory periods considered in the pension system represents one of the theoretical possibilities of parametric changes to the pension insurance system. Non contributory periods are taken into account in pension schemes either because the individual is carrying out a non-wage-earning activity beneficial to society or because the individual through no fault of their own finds themselves in an (adverse) social situation which from a humanitarian perspective justifies their participation in pension insurance without making insurance payments. The institution of non contributory periods helps to secure the universality of the pension system, which enables the participation of economically inactive persons in the pension insurance system. The amount of non contributory periods or the proportion between non contributory periods and years worked, or the proportion between paid insurance and non contributory periods (potential loss of insurance contributions) has, to date, merely been estimated in the Czech Republic. This PhD thesis presents the first accurate figures, based on unique individual data on insured persons; methods of analysis, synthesis, comparison, simulations were used and statistical methods were applied. The analysis reveals that non contributory periods are a significant element of the Czech pension system amounting to 22.4% of the total insurance period which is unacceptable especially as regards the principle of equivalence. The average duration of non-contributory periods for current pensioners is 8.7 years. The proportion of hypothetical insurance calculated from the average wage at potential total income from insurance was in the observed year 30% or 13% (calculation based on the minimum wage). Non contributory periods in the Czech pension system have a significant impact on its balance. Paying premiums for non contributory periods (included in pension law) would cause a decrease in the contribution rate to 18% (calculation based on the average wage). If non contributory periods were not considered, the potential savings on pensions paid out would be almost CZK 35 billion in the observed year. That represents 16.5% of expenditure on pension payments and more than twice the deficit of the pension insurance account for the observed year. Therefore the author recommends in the thesis the restriction of non contributory periods and the introduction of payments for such non-contributory periods from those people who will be entitled to a pension from such non contributory periods in the future.

Abstract Authors:Stefan Harrå and Magnus Björk Advisor: Markku Penttinen Title: Accounting Consequences of the change in pension accounting Background to problem: When the revised IAS 19 comes into force January 1, 2013, it means that two of the three accounting principles for defined benefit pension plans are disappearing, including the corridor method. The corridor method has made it possible for companies to defer its actuarial gains and losses. Now that the corridor approach abolished then the unrecognized actuarial gains and losses immediately be covered by equity, which involves very large amounts of some companies. Why the amounts have grown so big is much because of the discount rate. The discount rate is a controversial parameter, and there is disagreement on how it should be fixed. Purpose: The purpose of this thesis is to examine the accounting implications this will have for the company applied the corridor method, and if there is some parameters in the actuarial assumption that is more important than others. Methodology: The thesis has mainly been based on a qualitative research through qualitative interviews with a small sample that is affected by this change. There are quantitative elements to a greater depth by examining the annual reports, discount and deferred pension liabilities of the various companies. The approach is exploratory as it is a qualitative study and there was little knowledge of the subject before the work of it started. Therefore, a study of literature, regulations and previous research before the empirical study. This made it possible to gain a broader understanding of the subject and to shape relevant and essential interview questions. Conclusions: The conclusion shows that the largest accounting consequences for the companies in the study in conjunction with the change is that the unrecognized actuarial gains and losses will now be covered by equity and that the expected return on plan assets is based on the discount rate. The study also shows that it is the discount rate which is considered the most important parameter that the companies are looking at in the actuarial assumption. The conclusion also provides a shared sense of the true and fair picture of the companies after the revised IAS 19. Suggestions for further research: That after 2013 to study how the actual result of this rule change did this compare to the expected. Look at the problem of determining the discount rate. How will the IASB look at it if more and more begin to deviate from the standard? Keywords: "IAS 19", "IAS 19 revised", "corridor method", "pension accounting", "pension liabilities", "defined contribution plans", "actuarial assumptions", "actuarial gains and losses" and "discount rate".

Inledning: Svenska kommuners verksamhet betecknas som säregen. Till detta hör att kommunerna skiljer sig från den privata sektorn i avseende på målsättning och utförande. En utav de särdrag som finns inom kommunerna är deras redovisning av pensionerna som skall ske enligt blandmodellen. Ett flertal studier har lyft upp farhågor om att redovisningen enligt blandmodellen anses leda till diskretionära tolkningsutrymmen som troligtvis kommer utnyttjas av politikerna i syfte att påverka redovisningen. En del av de diskretionära åtgärder som antas vara möjliga är pensionsförvaltning av de förmånsbestämda pensionerna. Syfte: Studiens syfte är att förklara kommunernas val av förvaltning av de förmånsbestämda pensionerna. Metod: En deduktiv ansats har använts i studien för att kartlägga de olika teoretiska förhållandena mellan pensionsförvaltning och pensionsredovisning. Studiens utförande grundar sig i att tillföra en ny inblick i redovisningsforskningen. För att åstadkomma detta har tolv hypoteser sammanställts och prövats utifrån den statistiska analysen. Slutsatser: Studien har visat att variabeln lönsamhet har varit signifikant inom samtliga analyser. Detta har lett till att hypotesen om resultatutjämning har använts som en förklaring till kommunernas val av pensionsförvaltning. Variablerna befolkningsstorlek och befolkningsförändring har även de visat sig påverka valet av pensionsförvaltningen. I den logistiska regressionen har det dock varit problematiskt att införa samtliga variabler i samma modell. Därför har hypoteserna om befolkningsstorlek och befolkningsförändring förkastats tillsvidare. Hypoteserna som utformades har stundom växlat mellan positiv redovisningsteori och institutionell teori för att på så vis ge en mer utförligt förklaring. De anses därför ha bidragit var på sitt sätt till att förklara valet av pensionsförvaltningen. / Introduction: Swedish municipalities’ operations are described as being distinctive. This means that the municipalities differ from the private sector in terms of goal settings and performance. One of the characteristics found in the municipalities is their reporting of pensions that is to be accounted for according to the mixed model. Several studies have brought forward concerns that the accounting according to the mixed model may give rise to discretionary interpretations that assumedly are going to be exploited by the politicians in order to affect the financial reporting. A part of the discretion that is used in the earnings management is assumed to occur in the pension management of the defined benefit pension plans. Aim: The aim of the study is to explain the municipalities’ choice of management of the defined benefit pension plans. Method: A deductive approach has been used in the study to identify different theoretical relationships between the pension management and pension accounting. The study's design was based on providing a new insight into accounting research. To achieve this, twelve hypotheses were formulated and later tested using the statistical analysis. Conclusions: The study has shown that the variable profitability has been significant in the overall analyzes. This has led to the hypothesis that income smoothing could be used as to explain the municipalities’ choice of pension management. The variables population size and population change have also been shown to affect the choice of pension management. Doing the logistical regression with all the variables was however problematic. Therefore, the hypotheses on population size and population change have been rejected for the time being. The hypotheses that were designed have been interchangeable at different points between positive accounting theory and institutional theory, which has led to a more detailed explanation. They are therefore considered to have contributed each in its own way to explain the choice of pension management.