Description: 1992 SOA Annual Meeting, Washington, D.C. This session on mergers and acquisitions discussed the impact of pensions, post-retirement costs and fringe benefits on acquisitions as well as the special problems that arise when the parties in a transaction are globally diverse.

Description: Learn industry best practices including challenges faced by retirees, such as needing exposure to growth, most exposed to sequencing risk, and the need for smooth returns to avoid poor investor behavior caused by risk aversion. Other topics will include how to set investment objectives which consider the members’ real-world needs and how to build portfolios and implement risk management strategies to meet those objectives. The speaker will provide real-life examples/case studies.

Description: An overview of the retirement schemes across various Asia markets, looking at each of the 5 pillars of the retirement model. As a result of ageing workforce and increasing life expectancy, retirement savings gap is becoming a major social issue for many countries. An effective retirement systems require all stakeholders including the government, employers, retirement services providers and individuals to understand the risks involved, their roles and responsibilities, and to commit to do their part in tackling the retirement savings gap issue. This presentation will point out where improvements can be made from each stakeholder's perspectives, with a focus on the Asia markets which contain a mix of some of the most populous countries in the world and countries with very small population, developed economies as well as emerging markets, young and old labor force, and finally different cultures, all of which affects how people view and prepare for retirement.

Description: The speakers will share the international experience in the annuity market, discuss the annuity puzzle and the influencing factors of annuity supply and demand, and express their views on the annuity market trend under the aging and longevity trend of China's population and longevity risk management of annuity products.

Description: Retirement benefits, including health benefits, are increasingly being delivered through a DC structure. The presenters will explore how benefits are delivered and utilized, including consideration of tax implications and ordering. DC plan benefits in both the U.S. and Canada will be discussed.

Description: The presenters will provide an update on discount rates developed from the expected return on assets used in going concern pension funding. They will include recent research on discount rates being used for U.S. public sector plans, U.S. Multiple Employer Pension Plans, and Ontario and British Columbia plans. A discussion of the emerging regulatory framework in Canada and the U.S. and changes to ASOP 4 and 27 will also be covered. Components of discount rates such as expenses and margins (PfADs) will also be covered.

Description: Mr. Rallis will discuss trends in the market for risk transfer of defined benefit plans in the US. He will also address implications of increasing longevity.

Description: As China’s population officially ages, the government has now escalated reform of China's social security system to a national strategic level. The report of the 19th National Congress further mentioned construction of an old-age security system and social environment, painting a bright future for development of the pension industry. At the moment, development of China's pension industry is beginning a new journey. Learn about the current status and future development of pillar 2 pension, which is core to China's pension system; framework and operation management overview of Enterprise Annuity and Occupational Annuity; possible evolution paths in contribution payment methods’ investment operation models, and development of professional pension managers.

Description: 1992 SOA Annual Meeting, Washington, D.C. This session addressed changes being seen and anticipated in the pension arena over the coming years. Topics discussed included: 1. An overview of some demographic and economic trends. 2. Cash-balance plans, and the trend from defined benefit to defined-contribution plans. 3. Nondiscrimination. 4. Canadian perspective.