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Pension Systems
Provider: Faculty of Science

Activity no.: 5506-18-50-23 
Enrollment deadline: 23/04/2019
Tilmelding : Pension Systems
ECTS credits7.50
PlaceDepartment of Mathematical Sciences
Universitetsparken 5, 2100 København Ø
Date and time23.04.2019, at: 09:00 -
23.06.2019, at: 16:00
 
Regular seats50
ECTS credits7.50
Contact personNina Weisse    E-mail address: weisse@math.ku.dk
Enrolment Handling/Course OrganiserMogens Steffensen    E-mail address: mogens@math.ku.dk
Teaching languageEnglish partially in English
Semester/BlockBlock 4
Scheme groupC
Exam formWritten assignment
Exam formWritten assignment
Exam detailsWritten assignment, 7 days Written report demonstrating the ability to model and analyze a specific pension system. The analysis is based on an R implementation of the pension system model. Code developed during the course can be used. All aids allowed.
Course workload
Course workload categoryHours
Lectures28.00
Exercises21.00
Preparation120.00
Exam37.00
Sum206.00
Learning outcome
At the end of the course the student is expected to have:

Knowledge: An understanding of the defining design characteristics of different pension systems, including funded vs pay-as-you-go systems, individual vs collective systems, key sources of risk, profit sharing mechanisms, and smoothing and buffer techniques

Skills: The ability to model and analyze pension systems at an aggregate scale based on (simple) models for capital markets, longevity and demographics implemented in R. The ability to present a qualitative and quantitative assessment of a given pension system.

Competences: Understanding and relating concepts of pension system design, such as funded vs pay-as-you-go systems, individual vs collective systems, different levels of risk sharing, e.g. financial, biometric and inter-generational. Formulating and implementing (simple) models for capital markets, longevity and demographics in R. Simulating, analyzing and comparing different pension system designs. Specific knowledge of selected global pension systems, e.g. from Denmark, Sweden, Holland and North America.

Content
Defined contribution and defined benefit pension systems, funded vs pay-as-you-go systems, individual vs collective systems, financial and biometric risks, intergenerational risk sharing, profit sharing, smoothing and buffer techniques

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