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Pension plans: technical and financial perspectives

In: Introduction to Insurance Mathematics

Author

Listed:
  • Annamaria Olivieri

    (Università di Parma, Dipartimento di Economia)

  • Ermanno Pitacco

    (Università di Trieste, Dipartimento di Scienze Economiche, Aziendali, Matematiche e Statistiche)

Abstract

In this Chapter we examine some features of private pension programmes, namely those arrangements providing a post-retirement income in addition to the public pension. As we will see, a private pension plan can be designed either on an individual or a group basis. Although in the modern forms the funding of benefits is always realized on individual basis, group pension plans allow for a funding arrangement based on solidarity principles. The post-retirement income is the basic benefit of a pension plan; however, several rider benefits can be underwritten, covering risks to which an individual is exposed either before or after retirement.

Suggested Citation

  • Annamaria Olivieri & Ermanno Pitacco, 2011. "Pension plans: technical and financial perspectives," Springer Books, in: Introduction to Insurance Mathematics, chapter 0, pages 373-393, Springer.
  • Handle: RePEc:spr:sprchp:978-3-642-16029-5_8
    DOI: 10.1007/978-3-642-16029-5_8
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