Underfunding of Defined Benefit Pension Plans and Benefit Guarantee Insurance
An Overview of Theory and Evidence
Bibliographic Data
| ID | 11967251 |
|---|---|
| Authors | Mario Jametti (0009-0006-7461-8884, York University, Toronto, Ontario University of Lugano, Switzerland, and Social and Economic Dimensions of an Aging Population, Hamilton, Ontario, corresponding author) |
| Year | 2008 |
| Volume | 34 |
| Issue | Supplement 1 |
| Pages | S39-S45 |
| Publication date | 2008-11-01 |
| Open Access | No |
| Type | ARTICLE |
| Venue | Canadian Public Policy (JOURNAL) |
| Journal identifiers | ISSN: 0317-0861 • E-ISSN: 1911-9917 |
| Publisher | University of Toronto Press Inc. (UTPress) (PUBLISHER) |
| DOI | 10.3138/cpp.34.supplement.s39 |
| OpenAlex | W4247745048 |
| Language | EN |
| Citations received | 1 |
| References cited | 10 |
I review the theoretical literature on defined-benefit pension plans, particularly focusing on the issue of plan underfunding and benefit guarantee insurance schemes. Under reasonable assumptions underfunding can be an equilibrium outcome even in the absence of benefit insurance. The introduction of benefit guarantee funds was a reaction to the problem of underfunding, and I summarize the ensuing problems of moral hazard and adverse selection. I then discuss the still rather small body of empirical research on the subject and propose directions for future research
Actuarial science · Adverse selection · Business · Economics · Incentive · Microeconomics · Moral hazard · Outcome (game theory · Pension · Plan (archaeology · Public economics · Selection (genetic algorithm · Computer Science · Financial Literacy, Pension, Retirement Analysis · Global Health Care Issues · Healthcare Policy and Management · Finance
| Citations per year | 0.5 |
|---|---|
| Citation span | 2024 - 2024 (1) |
| Highly cited | No |