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Recreating Sustainable RetirementResilience, Solvency, and Tail Risk$
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Olivia S. Mitchell, Raimond Maurer, and P.Brett Hammond

Print publication date: 2014

Print ISBN-13: 9780198719243

Published to Oxford Scholarship Online: December 2014

DOI: 10.1093/acprof:oso/9780198719243.001.0001

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PRINTED FROM OXFORD SCHOLARSHIP ONLINE (oxford.universitypressscholarship.com). (c) Copyright Oxford University Press, 2020. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in OSO for personal use. date: 03 December 2020

Developments in European Pension Regulation:

Developments in European Pension Regulation:

Risks and Challenges

(p.186) Chapter 10 Developments in European Pension Regulation:
Recreating Sustainable Retirement

Stefan Lundbergh

Ruben Laros

Laura Rebel

Oxford University Press

The chapter discusses the proposed regulatory frameworks for market valuation of liabilities in Europe and its implications for pension provision. The aim is to outline how changes in regulatory frameworks may develop, given the underlying demographic and societal trends. Because the rules are still under development, the chapter focuses on the key principles involved, rather than specific details. The impact on defined benefit pensions and insured solutions with guarantees is discussed in detail, especially with regard to the sustainability of the current guaranteed products. Collective solutions that are capital-efficient under the proposed regulatory framework are outlined as a viable alternative to individual defined contribution plans.

Keywords:   Deferred annuities, regulatory risk, Basel III, market valuation, European pensions

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