Actuarial Pension Funding Theory

Pierre Devolder is professor of mathematical finance and actuarial science at the Catholic University of Louvain (UCL) (Institute of Statistics, Biostatistics and Actuarial Science, ISBA/LIDAM).  He has a PhD in mathematics from the University of Brussels. He is also an actuary and academic member of the Belgian Institute of actuaries (IABE).  His main research activities are focused on stochastic finance, life insurance and pension theory. He has published 6 books, mainly on pensions and finance, and numerous papers in various actuarial journals. He has given regular courses at the universities of Brussels, Strasbourg, Rabat and Lyon.  He is a member of the Belgian “Conseil Académique des Pensions” and chairman of the board of REACFIN (actuarial consulting).Sébastien de Valeriola is a professor of Digital Humanities at the Université libre de Bruxelles. He holds a PhD in mathematics from the Université catholique de Louvain, as well as master's degrees in actuarial science and history from the same university.

• - Part I: General Pension Theory.- 1. The Pension Challenge.- 2. Pension Schemes.- 3. Introduction to Demography.- 4. General Funding Systems.- Part II: Pay-As-You-Go Pension Schemes.- 5. Pay-As-You-Go Social Security Schemes.- 6. Notional Defined Contributions Schemes.- 7. Hybrid DB/DC Systems.- 8. Point Systems.- Part III: Fully Funded Pension Schemes.- 9. General Logic of Fully Funded Pensions Plan.- 10. Induvidual Funding Menthods.- 11. Collective Funding Methods.- 12. Actuarial Gains and Losses.