1,720,969 research outputs found
Real demography and pension system sustainability
No full textThis paper analyzes the issue of pension system sustainability in a logical mathematical key with great relevance to the rules of the demographic aspects.
A mathematical formalization of a defined contribution pension scheme in a partially funded framework is given. In this framework a demographic representation of pension system collectivity, not based on fictitious assumptions but founded on actual reality, is used.
Logical and mathematical conditions of sustainability, which are deduced by evolution equations of differential type, are given to control the pension system financial state
L'indicatore di sostenibilità del sistema svedese:aspetti caratteristici e punti critici
No full textLa Svezia nel 2001 ha attuato la riforma del suo sistema pensionistico
adottando uno schema di tipo NDC. Gli Orange Report, forniti
annualmente dal National Social Insurance Board di Stoccolma, descrivono
i principi di funzionamento del nuovo sistema e l’utilizzo di
un meccanismo di riequilibrio automatico per far fronte ad eventuali
debolezze nella gestione finanziaria del sistema.
L’introduzione concreta del concetto di Contribution Asset ed il
suo uso nella stima dell’indicatore di controllo della sostenibilità finanziaria,
definito Balance Ratio, sono i punti centrali e innovatori del
modello.
Restano comunque da rilevare alcune criticità nell’uso
dell’indicatore di sostenibilità, che manifesta limiti oggettivi in presenza
di situazioni di forte “concentrazione” nella distribuzione per
classi di età della popolazione
STRATEGIES FOR MANAGING LONGEVITY RISK IN RETIREMENT PLANS
No full textIn our work we study the problem of Longevity Risk management and particular interest is given to “revaluating” life annuities. We propose a life annuity model where the payout payment changes dynamically in relation to the fluctuations in the investment return and to the actual mortality trends. The model proposed is effective because, at every annual expiry, the Insurance Company is able to guarantee the life benefit liabilities to an insured collectivity, homogeneous in age and contract model; moreover, it is efficient because, at every annual expiry, also in the presence of unforeseen variations of mortality rates, the Insurance Company has exactly got the mathematical reserve useful to pay annuities to the collectivity members who are still living
A necessary sustainability condition for partially funded pension systems
No full textThis paper presents a necessary condition on the sustainability for defined contribution
pension systems with a funded component under the assumption of a constant contribution
rate and in the stabilisation phase.
The work finds classification in the framework of “logically sustainable pension systems”,
introduced in Angrisani (2006; 2008), which are pension systems whose sustainability is
founded on logical-mathematical rules rather than on actuarial forecasting.
On the base of this theory and by assuming an efficient rule on the rate of return on the
pension liability, we give the condition relative to the “minimum level” of the constant
contribution rate, only necessary for the sustainability of pension systems in the stabilisation
phase. The paper also gives the numerical example where the necessary condition of
sustainability is applied
An extension of Aaron’s sustainable rate of return to partially funded pension systems
No full textThe sustainability of defined contribution pension schemes with a funded component is studied under the assumption of a constant contribution rate. To this aim, we use the new methodology introduced in Angrisani (2006) and Angrisani (2008) for the analysis and the management of partially funded pension systems: assuming the rule on the rate of return on the pension liability and by means of the necessary and sufficient condition of sustainability stated in the previous cited references, we provide a new theorem for the defined contribution pension schemes with a funded component; it establishes a necessary condition for the sustainability under hypotheses of general stabilisation and constant contribution rate. The Aaron’s rule on the sustainable rate of return for unfunded pension schemes constitutes a particular case of the rule on the sustainable rate of return for partially funded pension systems used in our theorem
Dinamiche demografiche e sistemi pensionistici.
No full textIl lavoro si propone di sviluppare un modello matematico formale che sia descrittivo delle funzioni di un sistema pensionistico senza far ricorso ad ipotesi semplificatrici. La descrizione della realtà demo-grafica di tale modello considera un istante attuale di osservazione, cioè un istante rispetto al quale la collettività del sistema risulta sud-divisa in due classi, rispettivamente della popolazione attiva e della popolazione dei pensionati. A partire dalla situazione osservata nell’istante attuale, il modello analizza l’evoluzione nel tempo della struttura demografica delle due collettività ed evidenzia l’impatto che tale evoluzione ha sulle funzioni descrittive dello stato del sistema pensionistico.
L’obiettivo del lavoro è di “superare” la semplificatrice ipotesi di stabilità economica e demografica (ipotesi di steady state), e definire un contesto logico – matematico entro il quale poter affrontare l’analisi della sostenibilità dei sistemi pensionistici in modo efficace e realistico. Questo studio risulta anche preparatorio per poter esplici-tare analiticamente le condizioni di sostenibilità logica introdotte in Angrisani, The logical sustainability of the pension system, 2008
Going Beyond Counting First Authors in Author Co-citation Analysis
Full text linkThe present study examines one of the fundamental aspects of author co-citation analysis (ACA) - the way co-citation
counts are defined. Co-citation counting provides the data on which all subsequent statistical analyses and mappings
are based, and we compare ACA results based on two different types of co-citation counting - the traditional type that
only counts the first one among a cited work's authors on the one hand and a non-traditional type that takes into
account the first 5 authors of a cited work on the other hand. Results indicate that the picture produced through this non-traditional author co-citation counting contains more coherent author groups and is therefore considerably clearer. However, this picture represents fewer specialties in the research field being studied than that produced through the traditional first-author co-citation counting when the same number of top-ranked authors is selected and analyzed. Reasons for these effects are discussed
Fractionation of polar polyaromatic hydrocarbons present in industrial emissions and atmospheric samples and their determination by gas chromatography/mass spectrometry
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