Actuarial management of closed defined benefit retirement schemes using stochastic simulations
The provision of retirement payouts to employees through the use of defined benefits has been diminishing in popularity amongst employers for some time. One way in which this has been realised is through the closure of defined benefit schemes to new entrants, creating a subset of schemes that rapidly increase in maturity as the closed membership ages. The actuarial monitoring of these schemes is vitally important; due to their fixed time horizon the security of members' benefits is paramount....[Show more]
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