Description: The Defined Benefit 'DB' underpin Defined Contribution hybrid pension plan offers an attractive combination of benefit security and upside potential for pension plan members, and offers cost containment for employers, whilst still ensuring the provision of adequate equitable benefits. The DB underpin guarantee is valued and hedged as a financial option within the traditional funding paradigms of actuarial science. However, the average monthly hedging costs are time dependent and can be unstable when employees are close to retirement. This is the abstract of a paper that proposes some cost control approaches to reduce the volatility of the hedging cost.

Description: Development of annuities markets is a critical element of any private system. In Mexico, when the new pension regimen came into existence in 1997, the Mexican Institute of Social Security [IMSS] was supposed to buy a single premium annuity for all the people who become eligible under the new regime. Disability pensions represent 37% of total pensions sold up to date. Mortality of disables show substantial differences against the mortality table use to compute the annuity. Most of the differences can be explained by looking at the disability causes. Using information for social security for 2001 and 2002, regarding mortality and disability, this is the abstract of a paper that presents the main causes of disability among disables and the main causes of mortality of those disables who died in their first and second year of disability. The analysis of those cases apart from explaining the important differences between the expected mortality and the observed mortality during the first two years of disability, also explains some of the latter changes in the operational rules of IMSS.

Description: This is the abstract of a paper that addresses the question of how an employer can offer phased retirement in such a way that, indeed, employees work longer before fully retiring.

Description: What is the 'best' post-retirement financial strategy for a particular participant of a defined contribution plan? The answer to this question must accommodate a number of risks, the most obvious of which are related to longevity, inflation, investment, and health. Moreover, what makes this question especially intriguing is that its solution must be molded to the wealth, features and agenda of a particular individual and/or family. Many of the constraints and goals are qualitative, and standard market and population metrics may have limited significance. This is the abstract of a paper that deals with implementation issues, qualitative goals and constraints, and tailor-made solutions.

Description: This abstract describes a study that sets up an experience rating system to determine next year’s premium.

Description: This abstract describes a paper that introduces a bivariate compound loss model describing the aggregate losses from two lines of insurance businesses.

Description: This abstract describes a paper that develops by line of business forecasts of the relativity to the Property/Casualty industry Loss Ratio.

Description: This abstract describes a paper that develops a risk-neutral valuation methodology that takes different tax structures into consideration and applies it to a simplified withdrawal guarantee as well as a representative empirical Variable Annuity contract.

Description: This abstract describes a presentation that presents an overview of the current predictive modeling practices in the auto insurance industry, the challenges telematics presents in the current analytics environment and how the actuaries need to evolve to meet the challenges.

Description: This abstract describes a paper that considers the Guaranteed Minimum Withdrawal Benefits (GMWB) variable annuity rider under a static withdrawal strategy but allowing for early surrenders.