A Simulation Study of Khorasanee Pension Plan under a Stationary Population

• Main Authors: Wan-Jung Lo, 羅婉容
• Other Authors: Wen-Chiung Lee
• Format: Others
• Language: zh-TW
• Published: 2000
• Online Access: http://ndltd.ncl.edu.tw/handle/60078686104897639920

碩士 === 逢甲大學 === 統計與精算研究所 === 88 === According to the progress of medical technology and the prosperity in economics and the improvement of the human beings’ life, all these factors lead to human beings’ life become longer and longer. Also, as a result of the changes in people’s working habits, the age of retirement becomes earlier and earlier. And this let the life after retirement becomes longer. We all know that the pension fund plays an important role in the quality of the life after retirement. To sum up, whether the pension system is good or not deeply influences the employees’ life after retirement. Because both the defined benefit approach and the defined contribution plan have their own advantages and shortcomings, an English scholar-Khorasanee, first proposed an integrated pension plan (Khorasanee pension plan ) for assembling the advantages of both methods.But the simulation situation was too simple and too idealistic. For instance, the assumption of the employees’ distribution in his pension plan was too simple. Also, he didn’t take into account the increasing rate of salary and the employee can receive different percentage of his pension fund by the age of retirement. The purpose of this article is to change some of the simulate assumptions in the Khorasanee pension plan, and let the simulaton situation becomes more realistic. The first thing we want to do is comparing the Khorasanee pension plan with the traditional defined benefit approach by simulation. Second, we observe the results in different retire-withdraw rates. Also,we observe the results of he Khorasanee pension plan under different investment strategies in Taiwan’s investment environment. Finally, compare it with the money purchase plan.