A mathematical model for managing equity-linked pensions.
Pension fund companies manage and invest large amounts of money on behalf of their members. In return for their contributions, members expect a benefit at termination of their contract. Due to the volatile nature of returns that pension funds attain, pension companies started attaching a minimum guaranteed amount to member’
School Location:South Africa
Source Type:Master's Thesis
Keywords:pension fund defined benefit contribution minimum guarantee maximum return on investment sharing rule in funds call option put lagrangian
Date of Publication:01/01/2007