教師資料查詢 | 類別: 期刊論文 | 教師: 陳炤良 Chen Chao-liang (瀏覽個人網頁)

標題:Pricing of a resettable guarantee of a salary-connected individual pension account
學年105
學期1
出版(發表)日期2016/10/01
作品名稱Pricing of a resettable guarantee of a salary-connected individual pension account
作品名稱(其他語言)
著者CHEN, CHAO-LIANG
單位淡江大學經濟學系
出版者Cambridge: Cambridge University Press
著錄名稱、卷期、頁數Journal of Pension Economics and Finance 15(4), p.357-378
摘要The present paper numerically prices a resettable guarantee of a salary-connected individual pension account (IPA). The results indicate that a principal guarantee without a reset feature is not worth much unless the volatility of assets in the IPA is huge, while the death benefit contributes a very small proportion to the guarantee value. Deferred proportional funding is an alternative to reducing problems from the difficulty in modeling salary behavior, because the required deferred proportional cost is impacted less by the salary behavior. Moreover, if the lapse from a guarantee is possible, then the guarantee is not necessarily more valuable for a younger individual.
關鍵字Individual pension account;salary-connected;reset feature
語言英文
ISSN1474-7472
期刊性質國外
收錄於SSCI;
產學合作
通訊作者
審稿制度
國別英國
公開徵稿
出版型式,紙本
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