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“Money Purchase” Pensions: Contract Proposals and Risk Analysis

In: Mathematical and Statistical Methods for Actuarial Sciences and Finance

Author

Listed:
  • Valeria D’Amato

    (University of Salerno, Department of Economics and Statistics)

  • Emilia Di Lorenzo

    (University of Naples Federico II, Department of Economic and Statistical Sciences)

  • Marilena Sibillo

    (University of Salerno, Department of Economics and Statistics)

  • Roberto Tizzano

    (University of Naples Federico II, Department of Economic and Statistical Sciences)

Abstract

The Authors propose a personal pension product, consisting of a non-traditional profit sharing life insurance contract where the insured is allowed to share the profit of the pension’s invested funds all along the contract duration, that is from the issue time till the insured’s death. In its concrete realization, the idea comes true as a sequence of premiums characterized by a level cap, followed by the sequence of benefits characterized by a level floor. The two embedded options are inserted in the basic structure of a pension annuity. Due to the negligibility of the pooling effect in such kind of portfolios, the impact of the accidental demographic risk source is investigated.

Suggested Citation

  • Valeria D’Amato & Emilia Di Lorenzo & Marilena Sibillo & Roberto Tizzano, 2018. "“Money Purchase” Pensions: Contract Proposals and Risk Analysis," Springer Books, in: Marco Corazza & María Durbán & Aurea Grané & Cira Perna & Marilena Sibillo (ed.), Mathematical and Statistical Methods for Actuarial Sciences and Finance, pages 285-288, Springer.
    • Handle: RePEc:spr:sprchp:978-3-319-89824-7_51
    DOI: 10.1007/978-3-319-89824-7_51
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