Veranstaltungen

31. Mai 2022, 17:00 bis 18:00

Actuarial Modelling Club: „Automatic balancing mechanisms for state pensions: Past, present and future“

Vortrag

Dr. Carmen Boado-Penas, University of Liverpool, UK

Public pension systems are usually financed on a pay-as-you-go (PAYG) basis where pensions for retirees are paid by the contributions of the working-age population. With continuous improvements in life expectancy and a decrease in birth rate, pensions are paid over a longer time horizon while the income from contributions becomes smaller. In this respect, in PAYG schemes, automatic balancing mechanisms (ABMs) can be designed to restore the financial sustainability of the system. ABMs can be defined as a set of pre-determined measures established by law to be applied immediately as required according to an indicator that reflects the financial health of the system Most countries around the world have already legislated and included different types of mechanisms in their pension systems. This work aims to explore different mechanisms that have been set up and analyse their effectiveness. A theoretical construction for the ABM is also proposed and different methods, based on mixed pension systems, are suggested to guide the system back onto the road to long-term financial stability and at the same time ensure pension adequacy. (After the talk slides will be provided to registered participants.) Zur Person / short CV: Dr. Carmen Boado-Penas is currently a Reader in Actuarial and Financial Mathematics Mathematical Sciences at University of Liverpool (UoL), but she has already accepted the offer of a professorship at the Heriot Watt University. Dr. Boado-Penas holds a Ph.D. in Economics/Actuarial Science (Doctor Europeus and Extraordinary Award) from the University of Valencia (Spain) and a degree in Actuarial Sciences from the University of the Basque Country (Spain). She is the liaison of the UoL with the Institute and Faculty of Actuaries (the association of actuaries in the UK). Her research interests are focused on Notional Defined Contribution Accounts (NDCs), Actuarial Balance and Automatic Balance Mechanisms for the pay-as-you-go pension finance, and she has published several articles on public pension systems in prestigious international reviews and has cooperated on various projects related to pension systems at the Swedish Social Insurance Agency in Stockholm and at the Spanish Ministry of Labor and Immigration. For her work, she was awarded a prize by the Foundation of Spanish Savings Banks for her PhD 'Instruments for improving the equity, transparency and sustainability of pay-as-you-go pension systems'. In 2020, she received the BBVA Longevia award (first prize on the economics section) to support pension research.

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Kalendereintrag

Veranstaltungsort

Freihaus der TU Wien
1040 Wien
Wiedner Hauptstraße 8-10

 

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FAM @ TU Wien gemeinsam mit Anerkannten Aktuaren der AVÖ
FAM-office
fam@fam.tuwien.ac.at

 

Info-Link

https://fam.tuwien.ac.at/vr/20220531.php

 

Öffentlich

Ja

 

Kostenpflichtig

Nein

 

Anmeldung erforderlich

Ja

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