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. A 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

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

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

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

Other credits in programs