| 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 | en |
| ISSN | 1474-7472 |
| 期刊性質 | 國外 |
| 收錄於 | SSCI |
| 產學合作 | |
| 通訊作者 | |
| 審稿制度 | 是 |
| 國別 | GBR |
| 公開徵稿 | |
| 出版型式 | ,紙本 |
| 相關連結 |
機構典藏連結 ( http://tkuir.lib.tku.edu.tw:8080/dspace/handle/987654321/100148 ) |
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