Demand for life annuities: a Brazilian perspective
Autor(a) principal: | |
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Data de Publicação: | 2012 |
Outros Autores: | , |
Tipo de documento: | Artigo |
Idioma: | eng |
Título da fonte: | BAR - Brazilian Administration Review |
Texto Completo: | http://old.scielo.br/scielo.php?script=sci_arttext&pid=S1807-76922012000400005 |
Resumo: | Because pension plans have been marketed using outdated technical premises, Brazilian insurance companies find themselves required to identify additional resources to ensure their ability to meet future benefit payments obligations. When calculating the additional amount of this provision, the parameters used are: mortality and disability decrements, the structure of interest rates, financial performance, cancellation fees and conversion rates. The aim of this study is to present the estimation of conversion rates based on a Probit Model. The data for this study was obtained through the transfer of restricted data from the portfolio of a company with relevant activity in the Brazilian insurance market, including a group of 14,511 individuals eligible for retirement in the period between January 1, 2005 and December 31, 2009. The resulting analysis of the data allows us to conclude that two factors - the volume of accumulated reserves and the classification of prices as actuarially fair - increase the propensity of an individual to convert resources upon retirement. In turn, retirement age and the need for liquidity reduce the propensity to convert resources upon retirement. |
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Demand for life annuities: a Brazilian perspectiveretirementannuityprovision for insufficient contributionsPROBITBecause pension plans have been marketed using outdated technical premises, Brazilian insurance companies find themselves required to identify additional resources to ensure their ability to meet future benefit payments obligations. When calculating the additional amount of this provision, the parameters used are: mortality and disability decrements, the structure of interest rates, financial performance, cancellation fees and conversion rates. The aim of this study is to present the estimation of conversion rates based on a Probit Model. The data for this study was obtained through the transfer of restricted data from the portfolio of a company with relevant activity in the Brazilian insurance market, including a group of 14,511 individuals eligible for retirement in the period between January 1, 2005 and December 31, 2009. The resulting analysis of the data allows us to conclude that two factors - the volume of accumulated reserves and the classification of prices as actuarially fair - increase the propensity of an individual to convert resources upon retirement. In turn, retirement age and the need for liquidity reduce the propensity to convert resources upon retirement.ANPAD - Associação Nacional de Pós-Graduação e Pesquisa em Administração2012-12-01info:eu-repo/semantics/articleinfo:eu-repo/semantics/publishedVersiontext/htmlhttp://old.scielo.br/scielo.php?script=sci_arttext&pid=S1807-76922012000400005BAR - Brazilian Administration Review v.9 n.4 2012reponame:BAR - Brazilian Administration Reviewinstname:Associação Nacional de Pós-Graduação e Pesquisa em Administração (ANPAD)instacron:ANPAD10.1590/S1807-76922012005000003info:eu-repo/semantics/openAccessVaz,Thalita AmorimMachado,Sérgio JurandyrBortoluzzo,Adriana Bruscatoeng2012-10-04T00:00:00Zoai:scielo:S1807-76922012000400005Revistahttp://www.scielo.br/scielo.php?script=sci_serial&pid=1807-7692&lng=pt&nrm=isohttps://old.scielo.br/oai/scielo-oai.php||bar@anpad.org.br1807-76921807-7692opendoar:2012-10-04T00:00BAR - Brazilian Administration Review - Associação Nacional de Pós-Graduação e Pesquisa em Administração (ANPAD)false |
dc.title.none.fl_str_mv |
Demand for life annuities: a Brazilian perspective |
title |
Demand for life annuities: a Brazilian perspective |
spellingShingle |
Demand for life annuities: a Brazilian perspective Vaz,Thalita Amorim retirement annuity provision for insufficient contributions PROBIT |
title_short |
Demand for life annuities: a Brazilian perspective |
title_full |
Demand for life annuities: a Brazilian perspective |
title_fullStr |
Demand for life annuities: a Brazilian perspective |
title_full_unstemmed |
Demand for life annuities: a Brazilian perspective |
title_sort |
Demand for life annuities: a Brazilian perspective |
author |
Vaz,Thalita Amorim |
author_facet |
Vaz,Thalita Amorim Machado,Sérgio Jurandyr Bortoluzzo,Adriana Bruscato |
author_role |
author |
author2 |
Machado,Sérgio Jurandyr Bortoluzzo,Adriana Bruscato |
author2_role |
author author |
dc.contributor.author.fl_str_mv |
Vaz,Thalita Amorim Machado,Sérgio Jurandyr Bortoluzzo,Adriana Bruscato |
dc.subject.por.fl_str_mv |
retirement annuity provision for insufficient contributions PROBIT |
topic |
retirement annuity provision for insufficient contributions PROBIT |
description |
Because pension plans have been marketed using outdated technical premises, Brazilian insurance companies find themselves required to identify additional resources to ensure their ability to meet future benefit payments obligations. When calculating the additional amount of this provision, the parameters used are: mortality and disability decrements, the structure of interest rates, financial performance, cancellation fees and conversion rates. The aim of this study is to present the estimation of conversion rates based on a Probit Model. The data for this study was obtained through the transfer of restricted data from the portfolio of a company with relevant activity in the Brazilian insurance market, including a group of 14,511 individuals eligible for retirement in the period between January 1, 2005 and December 31, 2009. The resulting analysis of the data allows us to conclude that two factors - the volume of accumulated reserves and the classification of prices as actuarially fair - increase the propensity of an individual to convert resources upon retirement. In turn, retirement age and the need for liquidity reduce the propensity to convert resources upon retirement. |
publishDate |
2012 |
dc.date.none.fl_str_mv |
2012-12-01 |
dc.type.driver.fl_str_mv |
info:eu-repo/semantics/article |
dc.type.status.fl_str_mv |
info:eu-repo/semantics/publishedVersion |
format |
article |
status_str |
publishedVersion |
dc.identifier.uri.fl_str_mv |
http://old.scielo.br/scielo.php?script=sci_arttext&pid=S1807-76922012000400005 |
url |
http://old.scielo.br/scielo.php?script=sci_arttext&pid=S1807-76922012000400005 |
dc.language.iso.fl_str_mv |
eng |
language |
eng |
dc.relation.none.fl_str_mv |
10.1590/S1807-76922012005000003 |
dc.rights.driver.fl_str_mv |
info:eu-repo/semantics/openAccess |
eu_rights_str_mv |
openAccess |
dc.format.none.fl_str_mv |
text/html |
dc.publisher.none.fl_str_mv |
ANPAD - Associação Nacional de Pós-Graduação e Pesquisa em Administração |
publisher.none.fl_str_mv |
ANPAD - Associação Nacional de Pós-Graduação e Pesquisa em Administração |
dc.source.none.fl_str_mv |
BAR - Brazilian Administration Review v.9 n.4 2012 reponame:BAR - Brazilian Administration Review instname:Associação Nacional de Pós-Graduação e Pesquisa em Administração (ANPAD) instacron:ANPAD |
instname_str |
Associação Nacional de Pós-Graduação e Pesquisa em Administração (ANPAD) |
instacron_str |
ANPAD |
institution |
ANPAD |
reponame_str |
BAR - Brazilian Administration Review |
collection |
BAR - Brazilian Administration Review |
repository.name.fl_str_mv |
BAR - Brazilian Administration Review - Associação Nacional de Pós-Graduação e Pesquisa em Administração (ANPAD) |
repository.mail.fl_str_mv |
||bar@anpad.org.br |
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1754209123345367040 |