Description: Provides perspective on how risk has been shared in a variety of retirement and insurance arrangements, and suggestions some ideas for innovations and different risk sharing in the future. Traditional retirement program are defined benefit and defined contribution, which have very different methods of risk sharing. The new ideas share risk differently. Offers some history of retirement and risk sharing. Goal is to improve retirement security.

Description: There are two main equity release plans for retirement financing: reverse mortgage plan and home reversion plan. Both plans entitle the home owners to release cash from their properties without leaving their home. In the lease buyback scheme (LBS) recently introduced rin Singapore, the home owner sells the tail-end of the property lease to the government in exchange for a cash payment upfront. Unlike the two main equity release plans, the LBS only allows the owner to stay in the property during the front part of the lease but not for life. In this paper, we propose a hybrid home equity release plan that incorporates both features of the home reversion plan and the LBS. We provide an actuarial framework to analyse the pricing of the hybrid plan. Some numerical illustrations are presented to show the actuarial values of the plan under different parameter choices, such as lease period and portion of property values sold. The hybrid plan provides enhanced flexibility to plan takers to meet their retirement needs.

Description: Many factors contribute to one’s ability to save and prepare for retirement. This essay examines the influence family structure has on retirement preparedness.

Description: Offers an overview of how family contributes to retirement security. Discusses transfers between generations, high-age issues, divorce, what people expect and caregiving.

Description: This report develops a financial fragility index to determine how fragile Americans are and also to explore characteristics of the financially fragile.

Description: Update to longitudinal study measuring whether pension plan contributions paid down unfunded liabilities or met other benchmarks, such as regulatory requirements

Description: An interview Mary Hardy, FSA, CERA, FIA, Ph.D., on retirement issues in Canada.

Description: Read the September 2019 issue of Retirement Section News published by the Retirement Section. Newsletters provide practical information for the working actuary, articles on trends that impact sections and news about section activities.

Description: American Federation of Musicians and Employers’ Pension Fund and Subsidiary has provided pension benefits since 1959. Benefits are related to service and compensation (up to the maximum allowed to be recognized for pension benefits under federal law)

Description: Research material that developed a Liability-Driven Investment (LDI) benchmark framework.