PENSION FUNDING [ LACTU2040 ]

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

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.

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

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)