Projections of Pension Fund Solvency under Alternative Accounting Regimes
AbstractThis paper examines the impact of three alternative accounting regimes on perceived pension fund solvency. Deterministic accounting assumes actuarially smoothed valuation of assets and liabilities. National accounting is based on market valuation of assets and on actuarial valuation of liabilities. International accounting books assets and liabilities to market values. Using closed-form methods based on the funding ratio return, we exemplify the dramatic effect that the choice of accounting approach has on long-horizon solvency projections.
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Bibliographic InfoPaper provided by Hanken School of Economics in its series Working Papers with number 517.
Length: 14 pages
Date of creation: 13 Sep 2006
Date of revision:
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Postal: Hanken School of Economics, Arkadiankatu 22, P.O.B. 479; FIN 00101 Helsinki, Finland
Phone: +358-9-431 331
Fax: +358-9-431 33 333
Web page: http://www.hanken.fi
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pension fund; solvency; long-horizon return; asset liability management; accounting standards;
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Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Forsman, Maria & Solitander, Nikodemus, 2004. "The Context and Diffusion of Knowledge in the Finnish Jewellery Industry - The role of The House of Fabergé," Working Papers 506, Hanken School of Economics.
- Ekholm, Anders & von Nandelstadh, Alexander, 2004. "Do Analysts Leak Information to Preferred Customers?," Working Papers 505, Hanken School of Economics.
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