Webinar: Lifting the lid on intergenerational investment risk-sharing

Event Type
Web session
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Virtual event
Members Only Event
You must be a member of the Society of Actuaries in Ireland to attend this event.

Start time: 12.30 pm

End time: 1.45 pm

Online: zoom

Investment risk-sharing is a fundamental part of whole-life collective defined contribution (CDC) pension schemes, such as the Royal Mail CDC.  But how does investment risk-sharing benefit members?  And does it favour some groups of members over others?  These are important questions as members bear the risk in the CDC scheme, yet do not make any decisions about the management of their money.

The benefit design of the CDC scheme has a large impact on the benefits paid to members and how it varies across members.  For example, whether to use a constant or age-related benefit accrual.  If an age-related benefit accrual is used, then how should the benefit accrued by each contribution be calculated - should it reflect current predictions of investment returns or a set of predictions which don't change over time?  

The results of an attribution analysis to understand the impact of the CDC scheme benefit design are presented, in a simplified CDC model

This event will be run as a live webinar using Zoom. Click here for information on using Zoom.

NB: As a security measure, there is a two-step registration process before you receive the link to join any webinar.  The first step is to register your interest in attending a webinar by making a reservation for an event via the Society’s website.  You will receive a link to then register via the Zoom platform.  It is after this second registration step that you will receive the link to join the webinar. 

Professor Catherine Donnelly (Heriot-Watt University)

Biographical details

A qualified actuary and a Professor in the Department of Actuarial Mathematics and Statistics at Heriot-Watt University and Director of the Risk Insight Lab. Catherine has previously worked in the pensions industry and her research interests lie in pensions and life insurance.