The pension challenge: Risk transfer & retirement income security
This book, in a series produced by the Wharton School of the University of Pennsylvania in collaboration with Oxford University Press, explores ways to enhance retirement security in a volatile financial environment.
The book begins by assessing the myriad retirement risks confronting employees, retirees, employers, and governments, and it shows how stakeholders can work to reinvent pensions that perform well in a competitive global setting. Contributors then indicate how pension systems can be better designed to help protect against these risks.
Of special interest is a discussion of new financial products and structures to meet and manage challenges to old-age security. Examples considered include pension investment guarantees and hedges, adapting catastrophe bonds to the pension context, and key regulatory structures and portfolio requirements designed to protect unwary and unwitting pension participants. The contributors draw important lessons from a wide range of countries, drawing from both developed and developing market experiences.
Contributors include world famous finance experts and risk management faculty, development economists, pension regulators, and pension consultants.