<p>Under det gångna århundradet ökade den förväntade livslängden avsevärt såväl i Sverige som i övriga världen. 1900-talets förbättrade livslängd drevs inledningsvis av en minskad barnadödlighet medan de senare årtiondena kännetecknades av minskad dödlighet i höga åldrar.</p><p>En åldrande befolkning innebär ökade krav på sjukvård, äldreomsorg och inte minst pensionssystem. Pålitliga prognoser för vår framtida livslängd behövs för att beräkna de resurser som nämnda verksamheter kommer att ta i anspråk och utgör förutsättningen för en rättvis prissättning av försäkringsprodukter med levnadsrisk.</p><p>Lee-Carter-modellen är en av vår tids tongivande modeller för mortalitetsprognostisering. Modellen används här för att göra livslängdsprognoser utifrån svenska mortalitetsdata; prognoserna jämförs sedan med observerade utfall.</p><p>Mot bakgrund av resultatet diskuteras levnadsrisk med fokus på pensioner.</p><p>Inte oväntat presterar prognoserna ingen felfri bild av verkligheten och prognosfelet varierar i storlek mellan skattningarna; att använda dem som underlag för pensionsberäkningar hade i förlängningen varit ohållbart. Exemplet illustrerar på samma gång vår osäkerhet inför framtidens livslängdsutveckling och svårigheten i att prognostisera den.</p> / <p>During the past century, Sweden along with many other countries experienced a sharp decline in mortality rates. The increased life expectancy was initially propelled by mortality reductions among infants and subsequently by a survival improvement in advanced ages.</p><p>An ageing population has large implications for those providing services to the elderly, such as medical care and pensions, whilst also addressing the need for accurate and reliable mortality forecasts and projection methods.</p><p>The Lee-Carter model is the current gold standard for mortality forecasting and has been widely adopted in several studies. Here, the model is applied on Swedish mortality data; the projections are then compared to the observed lifespan development. Against this backdrop, a discussion on longevity risk in pensions schemes follows.</p><p>The forecasts performed in this study do not perfectly reflect the observed mortality change in the examined period; furthermore, the variation of the estimation errors limits the actuarial value of the projections. The findings illuminate the uncertainty that surrounds our future life expectancy as well as the difficulties associated with forecasting it.</p>

<p>Pension fund companies manage and invest large amounts of money on behalf of their members. In 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&rsquo / s benefits. In this mini-thesis we look at the pioneering work of Brennan and Schwartz [10] for pricing these minimum guarantees. The model they developed prices these minimum guarantees using option pricing theory. We also look at the model proposed by Deelstra et al. which prices minimum guarantees in a stochastic financial setting. We conclude this mini-thesis with new contributions where we look at simple alternative ways of pricing minimum guarantees. We conclude this mini-thesis with an approach, related to the work of Brennan and Schwartz [10], whereby the member&rsquo / s benefit is maximised for a given minimum guaranteed amount, which comprises of multi-period guarantees. We formulate a method to find the optimal stream of these multi-period guarantees.</p>

Master Thesis Analysis of Old-age Pension Schemes provides comparison of pay-as-you-go system and funding pensions from the theoretical point of view. Comparison is made assuming constant population and population under demographic crisis as well. Next issue is a demographic development of the Czech republic. The thesis answers the question whether demographic crisis in the Czech republic occurs. The last part of the thesis analyses the current pension system of the Czech republic assuming analysed development of population growth.

There have been a great deal of ways for old age security, who is expected and individual situation. Old age signify loss of income from economics activity. We can compare ways of securing for old age by their liquidity, rate of profit and diversification, but it is impossible to administratively determine composition of the optimal old age security portfolio, whereas administrative favoured one's way, entails limitation of the others. One of the oldest way of securing for old age is child care and enlinghtenment. The research pointed to existence disputation between theories of fertility development. These theories are attaching different importance to the particular biological, socioeconomic and cultural factors. Empirical research of fertility development and its factors in czech lands, represents pure administrative character of the pension insurance development. Spending on pension insurance and some other factors are influencing development of fertility. This influence is analyzed in years 1930- 2009. Analysis provides evidence of pension insurance influencing level of fertility significantly. Theories of fertility development often impeaching this influence. The work apply findings to the primary objectives for pension reform in Czech republic. This pension reform provides sustainable pension system position and possibility for individuals to set up their optimal old age security portfolio.

My thesis is concerned to old age pension scheme issue in the Czech republic conditions. There is an analyse of PAYG and funded system from individual point of view. The aim of this work is to construct a model which would be able to inform individuals about the effectiveness of each current pension pillar. Model of comparison defined pension age break-even point, which represent age when the total amount of contributions payd are equal to retired pay received. By using original model, it is possible to find minimum desired value of returns from private pension funds.

Made available in DSpace on 2016-04-26T20:48:32Z (GMT). No. of bitstreams: 1 Camila Kimie Ugino.pdf: 684425 bytes, checksum: f3348c8c79ff8693b69dcb15c748907c (MD5) Previous issue date: 2011-03-02 / Coordenação de Aperfeiçoamento de Pessoal de Nível Superior / The aim of this study is to analyze the Brazilian pension reform implemented since the 1990s. The current characteristics of the Social Security system were built in the 1988 Federal Constitution and gradually modified in the reforms. Soon after the promulgation of the Charter, several proposals for Social Pension reform were discussed on the grounds of financial crisis and exhaustion of the system. This debate focuses on the guidelines of a neoliberal state that has gained greater acceptance from the government of Fernando Collor de Melo. Reforms of the Fernando Henrique Cardoso and Luis Inácio Lula da Silva are analyzed mainly with regard to access to pensions, the roofs of retirement, the age limits. Among the consequences this study analyzes the significant changes in Social Security and limited expansion of pension funds. Moreover, given the backdrop of globalized finance, it is concluded that these reforms jeopardized the achievements of social protection built in the 1988 Constitution / Este trabalho tem como objetivo analisar as reformas previdenciárias brasileiras implantadas no Brasil a partir da década de 1990. As características atuais do sistema previdenciário brasileiro foram construídas na Constituição de 1988 e aos poucos modificadas nas reformas. Logo após a promulgação da Carta, várias propostas de reforma da Previdência Social foram discutidas sob o discurso de crise financeira e de esgotamento do seu sistema. Esse debate contempla as diretrizes de um Estado neoliberal que ganhou maior aceitação a partir do governo Fernando Collor de Melo. As reformas dos governos Fernando Henrique Cardoso e Luís Inácio Lula da Silva são analisadas principalmente no que se refere ao acesso às aposentadorias, aos tetos das aposentadorias, aos limites de idade. Entre as conseqüências, são analisadas as alterações significativas na Previdência Social e a expansão limitada dos fundos de pensão no Brasil. Ademais, dado o cenário das finanças mundializadas, conclui-se que essas reformas colocaram em risco as conquistas da proteção social construídas na Constituição de 1988

by Wong Sai Tat, Patrick, Leung Chi Keung, Edmond. / Thesis (M.B.A.)--Chinese University of Hong Kong, 1988. / Bibliography: leaf 87.

Submitted by Sara Ribeiro (sara.ribeiro@ucb.br) on 2018-11-16T19:20:20Z No. of bitstreams: 1 CarolinaSimaoOdisioHissaDissertacaoParcial2017.pdf: 870756 bytes, checksum: d3591c0091847353b09d3a7117d67af6 (MD5) / Approved for entry into archive by Sara Ribeiro (sara.ribeiro@ucb.br) on 2018-11-16T19:20:34Z (GMT) No. of bitstreams: 1 CarolinaSimaoOdisioHissaDissertacaoParcial2017.pdf: 870756 bytes, checksum: d3591c0091847353b09d3a7117d67af6 (MD5) / Made available in DSpace on 2018-11-16T19:20:34Z (GMT). No. of bitstreams: 1 CarolinaSimaoOdisioHissaDissertacaoParcial2017.pdf: 870756 bytes, checksum: d3591c0091847353b09d3a7117d67af6 (MD5) Previous issue date: 2018-12-01 / The present paper undertakes an analysis of the principle of isonomy in relation to the tax treatment provided to the Federal Public Servants' Supplementary Pension Foundation - Funpresp and to the private pension funds. Preliminarily, it traces the historical evolution of Social Security in Brazil, as well as the influence of the consolidation of the Social Welfare State in the realization of fundamental social rights, including complementary pension. This, in turn, is understood as the most recent significant change in the civil service pension scheme, which culminated in the creation of a closed private pension entity of a public nature and private legal personality to administer and execute the pension plans of the federal public servants. The legal nature attributed to Funpresp generates a mismatch in relation to private pension funds, insofar as their public character may lead to the incidence of reciprocal immunity, when private foundations of supplementary pensions are not presumed to have a similar immune standard, identical regulatory activities. / O presente trabalho empreende uma análise do princípio da isonomia frente ao tratamento tributário dispensado à Fundação de Previdência Complementar dos Servidores Públicos Federais - Funpresp e aos fundos de pensão privados. Preliminarmente, traça-se a evolução histórica da Previdência Social no Brasil, bem como a influência da consolidação do Estado do Bem-estar Social na concretização dos direitos sociais fundamentais, incluindo a previdência complementar. Esta por sua vez, compreendida como a mais recente alteração significativa no regime de previdência do funcionalismo público, que culminou com a criação de uma entidade fechada de previdência complementar de natureza pública e personalidade jurídica de direito privado para administrar e executar os planos de benefícios dos servidores públicos federais. Calha que a natureza jurídica atribuída à Funpresp gera um descompasso em relação aos fundos de pensão privados, na medida em que seu caráter público pode ensejar na incidência da imunidade reciproca, quando as fundações privadas de previdência complementar não são prestigiadas com norma imunitória similar, malgrado exerçam atividades regulamentares idênticas.

nÃo hà / O ordenamento jurÃdico brasileiro, à partir de 1998, permitiu que os entes federativos estados e municÃpios pudessem migrar do Regime Geral de PrevidÃncia (RGPS), capitaneado pelo INSS, para um Regime PrÃprio de PrevidÃncia Social (RPPS) tomando o cuidado para os aportes financeiros necessÃrios para a harmonia do equilÃbrio atuarial de modo a garantir, no futuro, o pagamento dos benefÃcios a quem de direito (massa laboral incluÃda nos regimes previdenciÃrios), de sorte que dos 5.509 municÃpios brasileiros, 1.957 instituÃram os seus RPPS e, 55 municÃpios no Estado do CearÃ, dos 184 existentes. O objetivo principal desta pesquisa foi apurar o resultado atuarial dos RPPS instituÃdos nos municÃpios cearenses por meio de um software construÃdo pelo autor e confrontÃ-lo com o resultado atuarial contido nos Demonstrativos de Resultado das AvaliaÃÃes Atuariais â DRRAÂs. De acordo com os cÃlculos realizados os RPPS municipais cearenses apresentam dÃficit atuarial no montante de R$ 3.361.632.976,77, enquanto o valor do resultado atuarial demonstrados nos DRAAÂs apresentam dÃficit atuarial no valor de R$ 10.344.705.187,76. Em ambas as apuraÃÃes o resultado deficitÃrio tem concentraÃÃo nos municÃpios de Fortaleza, CanindÃ, MaracanaÃ, Juazeiro do Norte e Itapipoca. Na 1. e 2. apuraÃÃo os municÃpios de Amontada e Caucaia se mostraram superavitÃrios, acrescentando-se, tambÃm, que os municÃpios de Cruz e Fortim se revelaram superavitÃrios no cÃlculo realizado pelo autor. O dÃficit atuarial do MunicÃpio de Itapipoca apresentou-se preciso, tanto no cÃlculo formulado pelo autor, quanto no demonstrado no DRRA do ente. Conclui-se que os entes previdenciÃrios deficitÃrios nÃo oferecem sistema de estrutura para o acÃmulo de recursos para o pagamento de compromissos definidos nos planos de benefÃcios. / The Brazilian legal system , starting from 1998 revealed that the federative states and municipalities could migrate from the General Provident Fund Scheme ( RGPS ) , headed by the INSS , for its Own Social Security System ( RPPS ) taking care to financial contributions necessary for the harmony of actuarial balance to ensure in the future payment of benefits to those eligible ( work force included in pension schemes ) , so that the 5,509 Brazilian municipalities, 1,957 have instituted their RPPS and 55 towns in State of Cearà , the existing 184 . The main objective of this research was to determine the actuarial results of RPPS established in municipalities of Cearà through a software built by the author and confront him with the actuarial results contained in the statements of income of the Actuarial Reviews - DRRA 's. According to the calculations the Cearà municipal RPPS present actuarial deficit in the amount of R $ 3,361,632,976.77 , while the value of actuarial results demonstrated in the present DRAA 's actuarial deficit of R $ 10,344,705,187.76 . In both calculations the deficit result has concentration in the cities of Fortaleza, CanindÃ, MaracanaÃ, Juazeiro and Itapipoca. In 1. & 2. calculating the municipalities of Amontada and Caucaia proved surplus, also adding to the towns of Cruz and Fortim, the surplus calculation performed by the author. The actuarial deficit of the municipality of Itapipoca presented itself takes both the calculation made by the author, as in shown in the DRRA one. It is concluded that the pension deficit loved not offer structural system for the accumulation of resources for the payment of obligations defined benefit plans. There is evidence that there is no consistency in the figures to the MPAS during transport of the DRAA 's MPAS is recommending the external control bodies investigate that the reason pointed out the differences.

Made available in DSpace on 2016-03-15T19:34:12Z (GMT). No. of bitstreams: 1 Lillian Castilho Menini.pdf: 785521 bytes, checksum: 96bd03df2c0f7c965bae92cba6d4e76c (MD5) Previous issue date: 2014-08-05 / This study aims to evaluate the control and supervision of investment process of pension resource by the Pension Funds whose purpose should be to ensure the future payment of pension contracted by the participants. The Pension Funds are overseen by Previc and should have enough internal controls and governance to avoid actuarial deficit in the benefit plans that manage. The lack of control can lead to civil and administrative liability for entities, its officers, sponsors and other entities in the market who advise Pension Funds on the implementation of the investment process. The ascertainment of liability of the entities and its officers, within the Previc, begins with an administrative process that clears irregularities. After administrative level, who feel harmed can start a lawsuit. Despite the strong accountability framework of guilty, which should pursue is effective compensation of benefit plans arising from damage caused by mismanagement of resources that will complement the future income of the worker at the time that their workforces are reduced. The employee, who expects to receive his supplemental retirement, is the keystone of the closed private pension market. / O presente estudo pretende avaliar o controle e fiscalização do processo de aplicação dos recursos previdenciários por parte dos Fundos de Pensão cuja finalidade deve ser garantir o pagamento futuro do benefício contratado pelos participantes. Os Fundos de Pensão são fiscalizados pela Previc e devem possuir controles internos e governança suficiente para evitar déficit atuarial nos planos de benefício que administram. A falta desse controle pode acarretar responsabilidade civil e administrativa às entidades, seus dirigentes, patrocinadores e demais entes do mercado que assessoram os Fundos de Pensão no processo de aplicação dos investimentos. A apuração de responsabilidade em relação às entidades e dirigentes, no âmbito da Previc, tem início com um processo administrativo que apura irregularidades cometidas. Encerrada a esfera administrativa, aquele que se sentir prejudicado pode iniciar um processo judicial. Não obstante a forte estrutura de responsabilização de culpados, o que se deve perseguir é o efetivo ressarcimento dos planos de benefício decorrentes dos prejuízos causados pela má gestão dos recursos que servirão de complemento de renda futura do trabalhador no momento em que suas forças laborais estiverem reduzidas. O trabalhador, que espera receber sua complementação de aposentadoria, é a peça fundamental do mercado de previdência complementar fechada.