El problema del superávit por dependencia en los planes de pensiones de empleo

  1. J. Iñaki De La Peña 1
  2. Iratxe D. Martín 1
  1. 1 Universidad del País Vasco/Euskal Herriko Unibertsitatea

    Universidad del País Vasco/Euskal Herriko Unibertsitatea

    Lejona, España

    ROR https://ror.org/000xsnr85

Anales del Instituto de Actuarios Españoles

ISSN: 0534-3232

Year of publication: 2022

Issue: 28

Pages: 39-65

Type: Article


More publications in: Anales del Instituto de Actuarios Españoles

Sustainable development goals


Within the complementary social welfare products, we find both definedcontribution and defined-benefit employee pension plans. Their purpose is to compensate the worker for retirement, death, survival or disability. Dependence status is not taken into account either at the time of contracting or during working life, but it is taken into account when the worker becomes a benefit recipient. If the individual decides to receive a periodic pension, the capital sum at retirement age is converted into a life annuity (in the case of defined contribution) or the pension beneficiary starts receiving the initially determined life annuity directly (defined benefit). In these cases, it is calculated on a specific technical basis that takes into account a specific mortality expectancy. However, international experience shows that the mortality rate of the dependent is higher than that of the general and insured population, so that the dependent will receive the same pension for a longer period of time. The aim of this paper is to determine the economic impact of the change in the beneficiary's status when receiving this annuity. It should be stressed that, in the life annuity, the biometric risk is assumed by the insurer and that a lower payment expectancy due to the pension beneficiary's change to dependent status entails an economic benefit, as this gain is not distributed to the beneficiary's family. A surplus is created by paying the same benefit. Thus, the use of an appropriate mortality assumption results in a reduction of the mathematical provision for payment, which frees up capital and results in a lower solvency capital requirement.

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