Selected Payout Products of the Old-Age Pension Saving Scheme

This book discusses the payout phase of the old-age pension saving scheme, the effective premium, and offers detailed actuarial models and analyses of five old-age pension saving products used in practice. It aims to determine future old-age pensions and present the advantages and disadvantages of such a pension, emphasizing the role of profitability testing. It is primarily intended for students of actuarial and financial mathematics and future economists.

Format: Paperback / softback
Length: 70 pages
Publication date: 22 February 2023
Publisher: Springer International Publishing AG

This comprehensive book delves into the intricate realm of old-age pension saving schemes, focusing specifically on the payout phase, known as the effective premium. It presents detailed actuarial models and comprehensive analyses of five widely used old-age pension saving products in practice. These products encompass a range of options, including basic permanent monthly annuities, which provide a fixed income without benefits for survivors, as well as variations that offer additional benefits for survivors or authorized individuals in the event of the pensioner's passing.

The primary objective of this book is to elucidate the methodology for calculating future old-age pensions based on accumulated old-age pension savings. It also highlights the advantages and disadvantages of such pension arrangements. Moreover, the book underscores the critical importance of profitability testing in evaluating the effectiveness of old-age pension savings and insurance products.

Designed primarily for students of actuarial and financial mathematics, as well as aspiring economists, this book offers a valuable resource for understanding the intricacies of old-age pension systems and their financial implications. It provides a solid foundation in actuarial analysis and financial modeling, enabling readers to grasp the complex concepts and principles involved in retirement planning and investment strategies.

With its comprehensive coverage, practical examples, and insightful discussions, this book is an essential tool for anyone interested in exploring the world of old-age pension saving and its potential for securing a comfortable retirement. Whether you are a professional in the financial industry or a student seeking to expand your knowledge in this field, this book will provide you with the necessary insights and tools to navigate the complexities of retirement planning effectively.

Weight: 147g
Dimension: 235 x 155 (mm)
ISBN-13: 9783031238482
Edition number: 1st ed. 2023