Opleiding: Actuarial Science of Pensions

Leerdoelen

After successful completion of this course, the student will be able to:

• Explain the pension systems that are present in the Netherlands and in other countries, and put them into economic, legal, historical, and international perspective.
• Explain the main theoretical foundations concerning pension system design.
• Conduct actuarial computations to determine an individual's pension accrual, premium and reserve at an advanced level.
• Explain the macroeconomics of pensions;
• Analyse, at an advanced level, intergenerational risk sharing schemes;
• Explain the solvency and regulatory frameworks for pension funds in the Netherlands and in Europe;
• Analyse state-of-the-art stochastic mortality models. 

Inhoud

Part 1. Introduction and Actuarial Science of Pensions

• The three pillars in global pension systems;
• actuarial and financial aspects of pension system design and also some legal and institutional aspects;
• actuarial equivalence principles and actuarial and financial valuation of pension liabilities and received premiums;
• advanced calculations of technical provisions for pension liabilities;

Part 2. Risk Sharing Across Generations

• some demographic notions;
• macroeconomics of pensions;
• intergenerational risk sharing;

Part 3. Regulation and Supervision; Mortality and Longevity Modeling

• the new Financial Assessment Framework (nFTK) and European Solvency II;
• stochastic mortality modeling and longevity risk.