publication . Research . Book . 2018

Simulating pension income scenarios with penCalc : an illustration for India's national pension system

Renuka Sane; William Price;
Open Access English
  • Published: 17 Jan 2018
  • Publisher: World Bank, Washington, DC
  • Country: United States
Abstract
This paper sets out initial results from a new modeling exercise for Defined Contribution (DC) pensions. It develops a package called penCalc based on the open source software language R, which is popular in the academic and modeling communities. All the coding is made freely available. The tool is illustrated for India's DC National Pension System. The aim is not to present the perfect model for India, but to show how the tool works so that policy makers and regulators can see its potential advantages and develop it for their own uses. It generates scenarios for future assets and income dependent on user-defined and changeable assumptions for asset returns, con...
Subjects
free text keywords: PENSIONS, PENSION FUNDS, RETIREMENT INCOME, FORECASTING, SIMULATION, MODELING, DEFINED CONTRIBUTION, Equity premium puzzle, Actuarial science, Risk premium, Investment strategy, Computer science, Rate of return, Expected return, Pension, Retirement age, National Pension
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publication . Research . Book . 2018

Simulating pension income scenarios with penCalc : an illustration for India's national pension system

Renuka Sane; William Price;