Pension fund participants and fund managing company shareholder relations in Lithuania second pillar pension funds

Strumskis, Mindaugas; Balkevičius, Artūras

doi:10.1016/j.intele.2016.06.004

Cited by 6 publications

(5 citation statements)

References 1 publication

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“…In Estonia, the mandatory date for participation in the scheme is 1 January of the year after the person has reached the age of 18 (Pensionikeskus.ee, s.a.). Strumskis and Balkevicius (2016) analysing the pension system in Lithuania have pointed that Pillar II is voluntary and an employee may freely choose the contributions and pension fund manager. Yet, the situation has changed after the Pension Reform in Lithuania and participation in Pillar II pension scheme is mandatory from 2019 (Pivoriene & Ambrazeviciute, 2020).…”

Section: Three-tier Pension Systemmentioning

confidence: 99%

Research for Rural Development 2023 : annual 29th international scientific conference proceedings

2023

Research for Rural Development

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Section: Three-tier Pension Systemmentioning

confidence: 99%

Research for Rural Development 2023 : annual 29th international scientific conference proceedings

2023

Research for Rural Development

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“…Coincidences in all SDs and all distributions 6 5 4 To reveal the differences in SD comparison results, it is enough to compare Figures 8 and 11, where matrices C and C St are presented. It can be clearly seen that mainly cases with entry values equal to 1 coincide if under the student-t distributional assumption only TSD was identified.…”

Section: Overall Pairwise Stochastic Dominance Comparison Assuming Al...mentioning

confidence: 99%

“…Consequently, the difficulties in making comparisons between funds constitute a second reason fund selection is challenging. Finally and crucially, pension funds managed by different companies usually exhibit different performance results, even though all of them operate under the same market conditions [6,7], which means that the actual investment performance might be different according to the specified investment strategy. As such, it might be assumed that the targets achieved by private pension funds depend on how well they are managed.…”

Section: Introductionmentioning

confidence: 99%

Dominance-Based Decision Rules for Pension Fund Selection under Different Distributional Assumptions

et al. 2020

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The pension landscape is changing due to the market situation, and technological change has enabled financial innovations. Pension savers usually seek financial advice to make a personalised decision in selecting the right pension fund for them. As such, decision rules based on the assumed risk profile of the decision maker could be generated by making use of stochastic dominance (SD). In the paper, the second-pillar pension funds operating in Lithuania and Slovakia are analysed according to SD rules. The importance of the distributional assumption is explored while comparing the results of empirical, student-t, Hyperbolic and Normal Inverse Gaussian distributions to generate SD-based rules that could be integrated into an advisory solution. Moreover, due to the differences in SD results under different distributional assumptions, a new SD ratio is proposed that condenses the dominance-based relations for all considered dominance orders and probability distributions. The empirical results indicate that this new SD ratio efficiently characterises not only the preference of each fund individually but also of a group of funds with the same attributes, thus enabling multi-risk and multi-country comparisons.

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“…PSAK 24 is a financial accounting standard that regulates post-work remuneration such as retirement, retirement money, and health benefits (Financial Accounting Standards Board, 2010). Evaluation of post-employment remuneration programmes is crucial to companies as it is an important part of their long-term financial obligations (Josa-Fombellida & Navas, 2020a;Strumskis & Balkevičius, 2016;Williams et al, 2018). This valuation is set out in Financial Accounting Standards Statement No.…”

Section: A Introductionmentioning

confidence: 99%

Employee Benefits Program Valuation with Multiple Decrement Model Based on PSAK 24 Post-COVID-19 Pandemic

Ekasasmita,

Rahmi,

Iskandar

2024

JTAM

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In this article, we evaluate the post-labor compensation program based on PSAK-24 in the new normal era of the COVID-19 pandemic. In order to create a table multiple decrements based on a single table decrement namely, death, withdrawal, total permanent disability, and retirement. In the new normal era of the COVID-19 pandemic, the benefits of death, death caused by COVID-19, withdrawal, total permanent disability, and retirement were then aggregated. The method used in this study is a quantitative method with a case study approach of COVID-19. The data used is secondary data on the number of COVID-19 positive cases in Indonesia from January 2021 to December 2022. In this study, an actuarial model, the Multiple Decrement Model, was applied to calculate the valuation of the post-labor compensation program based on PSAK-24 using five decrements as the cause of claims consisting of death, death cause of COVID-19, withdrawal, total permanent disability and retirement. The calculation results that can be seen that large annual net premiums multiple decrement cases that provide benefits according to the cause of failure getting bigger as that person gets older.

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Pension fund participants and fund managing company shareholder relations in Lithuania second pillar pension funds

Cited by 6 publications

References 1 publication

Research for Rural Development 2023 : annual 29th international scientific conference proceedings

Research for Rural Development 2023 : annual 29th international scientific conference proceedings

Dominance-Based Decision Rules for Pension Fund Selection under Different Distributional Assumptions

Employee Benefits Program Valuation with Multiple Decrement Model Based on PSAK 24 Post-COVID-19 Pandemic

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