Financial fairness and conditional indexation

Collective pension contracts can generate advantages for their participants by implementing forms of risk sharing. To ensure the continuity of a collective scheme, it has to be monitored whether the contracts offered to participants are financially fair in terms of market value. In this paper, Torsten Kleinow (Heriot-Watt University) and Hans Schumacher (TiU) use a stylized overlapping generations model to study financial fairness for a conditional indexation scheme.

Netspar, Network for Studies on Pensions, Aging and Retirement, is a thinktank and knowledge network. Netspar is dedicated to promoting a wider understanding of the economic and social implications of pensions, aging and retirement in the Netherlands and Europe.

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