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Theoretical Old-Age Pension Benefits and Replacement Rates in the Baltic States: A Retrospective Simulation

References Aggarwal, R., & Goodell, J. W. (2013). Political-economy of pension plans: Impact of institutions, gender, and culture. Journal of Banking & Finance, 37 (6), 1860-1879. http://dx.doi.org/10.1016/j.jbankfin.2012.05.008 Axelsson, R., Wadensjo, E. & Baroni, E. (2010). ASISP Annual National Report 2010. Pensions, Health and Long-term Care. Sweden. Retrieved August 20, 2015, from http://socialprotection.eu/files_db/1145/asisp_ANR10_Sweden.pdf Dārziņa, L. (2014). Mainīta pensijas aprēķina koeficienta G

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Pension provision by small employers in Ireland: an analysis of Personal Retirement Savings Account (PRSA) using bounded rationality theory

Introduction Pension coverage refers to the percentage of people in employment contributing to an occupational or personal pension scheme. The last major initiative to increase pension coverage in Ireland occurred following the enactment of the Pension (Amendment) Act 2002 that introduced Personal Retirement Savings Account (PRSA). The legislation required all employers who did not offer a pension as a benefit to organise access to a PRSA for their employees. Policy makers were particularly interested in small employers because reports dating back to 1995

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Mandatory pension funds in Chile: decline of the arrangement?

R eferences Barr, N., Diamond, P. (2016). Reforming Pensions in Chile. Polityka Społeczna, No.1, 4-9. Retrieved from: https://www.ipiss.com.pl/?lang=enecon.lse.ac.uk/staff/nb/Barr_and_Diamond_2016_Chile.pdf . Barr, N., Diamond, P. (2010). Pension Reform. A Short Guide. New York: Oxford University Press. Barr, N., Diamond, P. (2008a). Reforming Pensions. ISSR Draft, November. Retrieved from http://econ.lse.ac.uk/staff/nb/Barr_Diamond_crr.pdf [13.03.2015]. Barr, N., Diamond, P. (2008b). Reforming Pensions: Principles and Policy

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Factors Affecting the Development of Voluntary Pension Schemes in CEE Countries: A Panel Data Analysis

1 Introduction In the late 1990s and at the beginning of the 2000s, most of the countries from Central and Eastern Europe (CEE) started reforming their pension systems, urged by the high fiscal pressure on public finances as a result of unfavourable demographics. Their old pension systems, based solely on the PAYG formula and inherited from the era before democratic and economic transformation, were no longer sustainable. Most of the CEE countries implemented a three-pillar pension model, promoted by the World Bank (see World Bank 1994; Holzmann and Hinz 2005

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Does Risk Aversion Matter for Foreign Asset Holdings of Pension Funds – The Case of Poland

. (2006), Revisiting Legal Limitations on Foreign Investing by Pension Funds, unpublished manuscript, available at: http://www.law.harvard.edu/programs/about/pifs/llm/sp12.pdf, [accessed on 28 July 2013] CampbellJ .Y., Serfaty-de Medeiros K., Viceira L.M. (2007).Global Currency Hedging,‘NBER Working Papers’ 13088 Deng L., Ma C., Yang W. (2011), Portfolio Optimization via Pair Copula-GARCH-EVT-CVaR Model, ‘Systems Engineering Procedia’ 2 Dimson E., Marsh P., Staunton M. (2006), The Worldwide Equity Premium: A Smaller

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Modeling the Diffusion of Private Pension Provision

References Administrator of the Pension Fund “Center of Personified Accounting”, 2017. Pension funds. from http://acpo.com.ua/ Arza, C., 2008. Changing European welfare: The new distributional principles of pension policy. In C. Arza and M. Kohli (Eds.), Pension Reform in Europe: Politics, policies and outcome (pp. 109-131). New York: Routledge. Baltac, A. G., and Dinca (Nicola), Z., 2013. Companies’ Role in the Evolution of the Romanian Economy in the Period 2011-2013. Romanian Statistical Review, 61 (4), 113-117. Bass, F. M., 1969. A

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Open Pension Funds in Poland: The Efects of the Pension Privatization Process

References Antia F., Lanzara A.P., 2011, Multi-pillared Social Systems: Te Post-reform Picture in Chile, Uruguay and Brazil, International Social Security Review, Vol. 64, No. 1 Barley R., 2010, Hungary`s Unorthodox Economic Bet, Te Wall Street Journal (Eastern edition, New York), Dec. 4 Barr N., 2001, Te Truth About Pension Reform, Finance and Development, September, Vol. 38, No. 3 CENDA, 2010, La Gran Ilusión. Perspectiva de la rentabilidad de lago plazo de los fondos de pensiones AFP comparada con los mercados fnancieros internacionales, Centro de

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Individual Pension Funds and Capital Market Development in Turkey

R eferences 1. Allianz (2014), 2014 Pension Sustainability Index , https://www.allianz.com/v_1396002521000/media/press/document/2014_PSI_ES_final.pdf [Accessed 03.05.2015] 2. Aras, G., Müslümov, A. (2005), “Institutional Investors and Stock Market Development: A Causality Study”, ISE Review , Vol.29, pp.1–14. 3. Barna, F., Mura, P.O. (2010), “Capital Market Development and Economic Growth: The Case Of Romania”, Annals of the University of Petrosani-Economics , Vol.10, No.2, pp.31-42. 4. Ben-David, D., Lumsdaine, R.L., Papell, D

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Controlling a demographic wave in defined contribution pension systems

References [1] M. ANGRISANI. Funded and unfunded systems: two ends of the same stick. 28th International Congress of Actuaries PARIS: ICA , 2006. [2] M. ANGRISANI. The logical sustainability of the pension system. Pure Mathemathics and Applications , 19:67–81, 2008. [3] M. ANGRISANI, A. ATTIAS, S. BIANCHI, and Z. VARGA. Sustainability of a pay-as-you-go pension system by dynamic immigration control. Applied Mathematics and Computation , 219(5):2442–2452, 2012. [4] M. ANGRISANI and C. DI PALO. An extension of aaron’s sustainable rate of

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Pension Funds, the Requirement of Providing the Minimum Guaranteed Return and Excessive Legislative Restrictions of Pension Fund Investments

References Boender, C.G.E., van Aalst, P.C. and Heemskerk, F. 1998. Modelling and management of assets and liabilities of pension plans in the Netherlands. In Worldwide Asset and Liability Modeling, edited by W.T.Ziemba, J.M.Mulvey, 561-580, Cambridge: Cambridge University Press. Consigli, G. and Dempster, M.A.H. 1998. Dynamic stochastic programming for asset liability management, Annals of Operations Research 81:131-162. Cox, J.C., Ingersoll, J.E. and Ross, S.A. 1985. A theory of the term structure of

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