Dynamic microsimulation pension model (Ofer Abarbanel online library)

dynamic microsimulation pension model is a type of a pension model projecting a pension system by means of a microsimulation and generating the complete history of each individual in a data set. The results of such model offer both the aggregate (e.g. total replacement ratio, implicit debt) and individual indicators (e.g. individual cash-flows) of the pension system. Thanks to complexity of results, there is a possibility to investigate the distribution of pensions, poverty of pensioners, impact of the changes of the pension formula, for more examples see e.g. (Deloitte, 2011).[1] Detailed individual set of (administrative) data should serve as a model input. Continue reading “Dynamic microsimulation pension model (Ofer Abarbanel online library)”

Defined contribution plan (Ofer Abarbanel online library)

defined contribution (DCplan is a type of retirement plan in which the employer, employee or both make contributions on a regular basis.[1] Individual accounts are set up for participants and benefits are based on the amounts credited to these accounts (through employee contributions and, if applicable, employer contributions) plus any investment earnings on the money in the account. In defined contribution plans, future benefits fluctuate on the basis of investment earnings. The most common type of defined contribution plan is a savings and thrift plan. Under this type of plan, the employee contributes a predetermined portion of his or her earnings (usually pretax) to an individual account, all or part of which is matched by the employer.[2] Continue reading “Defined contribution plan (Ofer Abarbanel online library)”

Civil Servants Pension Organization (Ofer Abarbanel online library)

Civil Servants Pension Organization (CSPO) is an independent legal entity under the governance of the Ministry of Welfare and Social Security, and run as an insurance company. This organization is responsible for the affairs related to the retirement of Iran’s civil servants.[1] The regular military, law enforcement agencies, and the Islamic Revolutionary Guard Corps, Iran’s second major military organization, have their own pension systems. Continue reading “Civil Servants Pension Organization (Ofer Abarbanel online library)”

Defined benefit pension plan (Ofer Abarbanel online library)

defined benefit pension plan is a type of pension plan in which an employer/sponsor promises a specified pension payment, lump-sum or combination thereof on retirement that is predetermined by a formula based on the employee’s earnings history, tenure of service and age, rather than depending directly on individual investment returns. Traditionally, many governmental and public entities, as well as a large number of corporations, provided defined benefit plans, sometimes as a means of compensating workers in lieu of increased pay.[1] Continue reading “Defined benefit pension plan (Ofer Abarbanel online library)”

Too connected to fail (Ofer Abarbanel online library)

The “too connected to fail” (TCTF) concept refers to a financial institution which is so connected to other institutions that its failure would probably lead to a huge turnover in the whole system.[1] Contrary to the “too big to fail” theory, this approach takes into consideration the highly connected network feature of the financial system rather than the absolute size of one particular institution. Continue reading “Too connected to fail (Ofer Abarbanel online library)”

European Commission Investment Plan for Europe (Ofer Abarbanel online library)

The European Commission’s Investment Plan for Europe (EC IPE) known as the “Juncker Plan” or the “EU Infrastructure Investment Plan” is an ambitious infrastructure investment programme first announced by European Commission President Jean-Claude Juncker in November 2014: it aims at unlocking public and private investments in the “real economy” of at least € 315 billion over a three years fiscal period (Jan. 2015 – Dec. 2017). Continue reading “European Commission Investment Plan for Europe (Ofer Abarbanel online library)”