Jump to ContentJump to Main Navigation
Recreating Sustainable RetirementResilience, Solvency, and Tail Risk$
Users without a subscription are not able to see the full content.

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

Show Summary Details
Page of

PRINTED FROM OXFORD SCHOLARSHIP ONLINE (oxford.universitypressscholarship.com). (c) Copyright Oxford University Press, 2021. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in OSO for personal use. date: 15 January 2021

Risk Budgeting and Longevity Insurance:

Risk Budgeting and Longevity Insurance:

Strategies for Sustainable Defined Benefit Pension Funds

(p.247) Chapter 12 Risk Budgeting and Longevity Insurance:
Recreating Sustainable Retirement

Amy Kessler

Oxford University Press

The extreme losses incurred in defined benefit pension plans during the financial crisis have called into question the conventional approach to managing pension risk. Defined benefit pension plans around the world are closing in response to years of intense market volatility and dramatic increases in life expectancy. The key question today is whether the defined benefit plans that remain open and continue to accrue benefits for employees can be sustained. Risk budgeting and disciplined risk management, combined with new techniques to insure longevity risk, can be used to sustain more pension funds and safeguard the health of the plan sponsors.

Keywords:   Longevity risk, intergenerational risk, pension risk transfer, mortality shocks, financial crisis

Oxford Scholarship Online requires a subscription or purchase to access the full text of books within the service. Public users can however freely search the site and view the abstracts and keywords for each book and chapter.

Please, subscribe or login to access full text content.

If you think you should have access to this title, please contact your librarian.

To troubleshoot, please check our FAQs , and if you can't find the answer there, please contact us .