UCL - PENSION FUNDING

[ACTU2040]

[30h + 15h] 5 credits

This course is taught in the 2d semester.

Teacher(s): Pierre Devolder

Language: French

Level: Second

Aims
Main themes
Content and teaching methods
Other information (prerequisite, evaluation (assessment methods), course materials recommended readings, ...)

Aims

This course aims to familiarise students with the main principles that underpin public and private provident fund schemes (mainly social security and pension funds). A deep comparison between pay as you go and funding methods is presented. At the end of the course, the students must be able to establish the funding scheme of a pension.

Main themes

The purpose of the course is to provide students with basic skills to the funding principles of public and private pension scheme.

Content and teaching methods

Content
The following topics will be developed:
1. Pension scheme
2. Elements of demography
3. General funding schemes
4. Basic concepts of social security
5. Fund of equilibrium
6. Pay as you go and defined contributions
7. Funding methods
8. Individual methods
9. Collective methods
10. Actuarial gain and loss
11. Accounting standards

Methods
In-class activities
X0 Lectures
X0 Exercices/PT

At home activities
X0 Exercices to prepare the lecture
X0 Paper work

Other information (prerequisite, evaluation (assessment methods), course materials recommended readings, ...)

Evaluation : Class participation and written examination, in French

Support : Slides provided through icampus

References : The course is based on the book : "le financement des régimes de retraites" (Pierre Devolder, Economica, Paris)