The Study on Investment Strategies of the Labor Pension System

• Main Authors: Yu-Ping Lan, 藍榆萍
• Other Authors: Cheu-Yu Miao
• Format: Others
• Language: zh-TW
• Published: 2005
• Online Access: http://ndltd.ncl.edu.tw/handle/13669445122077940736

碩士 === 淡江大學 === 保險學系保險經營碩士班 === 93 === The Labor Pension System is a individual retirement account system. The retirement benefit will depend on the investment performance. Choosing appropriate investment strategies will make the retirement benefits sufficient .If the accumulated value is below two-year deposit rate, the administration has to make up the balance. This research constructs the model under the Labor Pension System. Investment strategies are 50/50、BPFA、TPFA、Lifestyle、Threshold、CPPI、γ=1、γ=3 andγ=5. We find that: (1) The more the contribution is, the higher the average replacement rate is. (2) For 20 age and 30 age labors, the appropriate contribution rate is a way to achieve the target replacement rate. For 40 age and 50 age labors , the average replacement rate is insufficient. (3) The mean and standard deviation of subsidy increase with the contribution. (4) In scenario 1, the average subsidy of γ=3 is lowest, but CPPI or BPFA is highest. In scenario 2, the average subsidy of 50/50 is lowest, but BPFA is highest.(5) The probability of subsidy in scenario 1 is very low, but BPFA and TPFA in scenario 2 is higher than fifty percent.