Summary |
As pension fund systems decrease and dependency ratios increase, risk management is becoming more complex in public and private pension plans. Pensions Fund Risk Management: Financial and Actuarial Modeling sheds new light on the current state of pension fund risk management and provides new technical tools for addressing pension risk from an integrated point of view.
Divided into four parts, the book first deals with financial risk management and asset and liability management strategies. It discusses fund dynamics, defined benefit (DB) and defined contribution (DC) pension funds, stakeholders’ risks, and value-at-risk (VaR) methodology. The second section focuses on technical risk management topics, including uncertainty and longevity risk. In the third part on regulation and solvency, the book examines employers’ risks, accountability rules, actuarial analysis instruments, and risk-based solvency. The final part takes an international perspective, covering the social security systems of Italy and Greece and the returns of Spanish balanced pension plans and portfolio performance.
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