Researchers from the Actuarial Science & Mathematical Finance group of the UvA’s Amsterdam School of Economics have been awarded a Netspar research grant of €500,000 for the research proposal ‘Risk Management in Funded Pension Systems’.
The recent financial crisis and the ongoing increases in life expectancy have sparked a debate in the Netherlands concerning the future of the Dutch pension system. In this project, several researchers from the Universities of Amsterdam, Tilburg and Edinburgh will cooperate with partners from AEGON, APG and Cardano to work on the new challenges facing Dutch retirement provisions.
The project will be coordinated by Prof. Michel Vellekoop of the FEB. The main aim of the three-year study is to ‘quantify the effects of changes in pension contracts, in risk measurement procedures and in the regulatory framework for different stakeholders in both the second and third pillar, using models which take explicit account of uncertainties in financial and demographic parameters’.
Netspar, the research network for studies on pensions, aging and retirement, was established in 2005. The network aims to bring together academic researchers and professionals working for pension funds, insurance companies and regulators.