Abstracts Category : Other

Essays on retirement income provision

by Lei Shu

This dissertation examines three topics out of the broad range of old-age supporting. The dissertation consists of three papers. In the first paper, we analyze the sustainability of a new regulatory framework, the nFTK, for the Dutch pension funds. Based on a simulation study, we explore to what extent the pension fund can provide full indexation under the nFTK, and whether the full indexation is fulfilled without overfunding. In the second paper, we investigate the model risk in the pricing of the reverse mortgage products using two different models for the house price process, i.e., the Geometric Brownian Motion model and the Vector Auto-Regression model. We calibrate the models using prices of regular mortgages and determine the corresponding price ranges for reverse mortgages. In the third paper, using a two-wave nationwide survey data from CHARLS, we investigate the impact of a newly introduced rural pension system, the New Rural Social Pension Insurance program (NRSPI), on the retirement and old-age labor supply pattern in China.Advisors/Committee Members: De Waegenaere, A.M.B., Melenberg, B., Schumacher, H., Center Ph. D. Students.