Zur Eigenmittelunterlegung von Leistungszusagen in der Auszahlphase bei investmentfondsbasierten Altersvorsorgeverträgen: Ein Gestaltungsvorschlag
The present study focuses on the defined financial benefits capital investors have undertaken to pay to their contracting parties during the withdrawal phase under contracts making provision for old age (also referred to as Riester contracts in Germany). The Alterszertifizierungsgesetz requires product providers to make sure that benefits, equal or even increasing in amount over time, are paid to the holders of such Riester contracts during the entire withdrawal phase. In cases of doubt, investors would be liable in respect of their total assets and therefore be required to hold own funds appropriate in amount. At present, there are not any explicit supervisory-law rules covering own fund requirements during the withdrawal phase under investment-based contracts making provision for old age. The present study is aimed at closing this gap. To this end, it begins by enlisting the special financial and economic characteristics of defined benefits during the withdrawal phase; this is followed by a discussion of a conceptual proposal as well as of specific methodological proposals pertaining to a supervisory law-based own fund system; finally it demonstrates the way such a system would work within the framework of a simulation study.
To our knowledge, this item is not available for
download. To find whether it is available, there are three
1. Check below under "Related research" whether another version of this item is available online.
2. Check on the provider's web page whether it is in fact available.
3. Perform a search for a similarly titled item that would be available.
When requesting a correction, please mention this item's handle: RePEc:kuk:journl:v:42:y:2009:i:2:p:277-312. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Credit and Capital Markets)
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.