Contemporary pension systems face a major fiscal challenge. In China, whose population
has been aging rapidly, such a challenge is of extreme importance. This article finds that, in …

Over the past half-decade, pension plans in the US have seen their ample surpluses turn
into massive deficits. Many pension trusts in early 2006 possess funding ratios below 75 per …

We discuss pension system risk in the USA, focusing on the investment policy and the
methodology for the valuation of the liabilities of the Pension Benefit Guaranty Corporation …

The adoption of pension funds in the Italian social security policy has increased the offer of
several investment funds. Workers have to decide what kind of investment to perform, the …

The aim of the paper is to develop a technique for rebalancing pension fund portfolios in
function of their point wise level of risk. The performance of pension funds is often measured …

The adoption of pension funds in the social security policy constitutes an important
transformation in the social life; in fact, workers have a pension based on an investment fund …

Much has been written recently, particularly after 2000–2002 left pensions in tatters, about
the challenge of meeting pension obligations. The challenge discussed here is interesting …

Approximately 16% of the world's population lives in countries with some concept of a
financial retirement plan. Of the remaining population, many do not have access to a …

Stochastic programming methods can be applied to portfolio optimization in the context of
pension fund management. In this paper we apply stochastic programming wherein the …

The goal of this paper is to give an overview of the voluntary private pension system. In the
beginning it presents both the features and the legal framework that guide the functioning of …