Pension funds link generations simply by the time scale of their transactions. Participants pay pension contributions for decades so that getting benefits after retirement, hopefully again for decades. During the course of their career new cohorts start their working life, so there is always active and retired living side-by-side. One group is only paying into the fund and so accruing pension rights, while the other is getting benefit payments from the fund. While this description sounds simple, their relationship is far from that. All the important external determinant factors, being economic or demographic or legal, will change in such a long period of time. These factors change the financial sustainability or benefit adequacy of the pension fund and so favour one group of the members to the others.
Anmeldeschluss: 2025-10-20
Link: https://actuarial-academy.com/seminars/seminar?No=E0513