Financial Inclusion Through Insurance & Pension Schemes

Financial Optimization Problems in Life and Pension Insurance

Acknowledgements I would like to thank Hanspeter Schmidli for encouragement and support, and for comments on early versions of the published papers. I am deeply indebted to Mogens Steffensen for his encouragement, support, and general guidance, and for many valuable discussions in relation to my work as well as to other matters. He has played a role of great significance as a supervisor, collea...

The Financial Impact of Advanced Kidney Disease on Canada Pension Plan and Private Disability Insurance Costs

BACKGROUND Many working-age individuals with advanced chronic kidney disease (CKD) are unable to work, or are only able to work at a reduced capacity and/or with a reduction in time at work, and receive disability payments, either from the Canadian government or from private insurers, but the magnitude of those payments is unknown. OBJECTIVE The objective of this study was to estimate Canada ...

International Social Security Association Seminar on financial and actuarial bases of pension schemes

Pension Risk, Retirement Saving and Insurance

Using a representative sample of Italian investors, we estimate the risk associated with pension benefits by eliciting for each individual the subjective distribution of the replacement rate as a summary indicator of social security wealth. We find substantial heterogeneity of pension risk and show that it is consistently related to observable features in the pension system that have different ...

Pension Funds, Financial Intermediation and the New Financial Landscape

Pension funds are analysed as financial intermediaries using a functional approach to finance which encompasses traditional theories of intermediation. Funds fulfil a number of the functions of the financial system more efficiently than banks or direct holdings. Their growth complements that of capital markets and they have acted as major catalysts of change in the financial landscape. Financia...