{"id":"https://openalex.org/W2129460009","doi":"https://doi.org/10.1787/5kg52k5b0v9s-en","title":"The Role of Guarantees in Defined Contribution Pensions","display_name":"The Role of Guarantees in Defined Contribution Pensions","publication_year":2011,"publication_date":"2011-09-01","ids":{"openalex":"https://openalex.org/W2129460009","doi":"https://doi.org/10.1787/5kg52k5b0v9s-en","mag":"2129460009"},"language":"en","primary_location":{"id":"doi:10.1787/5kg52k5b0v9s-en","doi":"https://doi.org/10.1787/5kg52k5b0v9s-en","is_oa":false,"landing_page_url":"https://doi.org/10.1787/5kg52k5b0v9s-en","pdf_url":null,"source":{"id":"https://openalex.org/S4210213477","display_name":"OECD working papers on finance, insurance private pensions","issn_l":"2079-7117","issn":["2079-7117"],"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":null,"host_organization_name":null,"host_organization_lineage":[],"host_organization_lineage_names":[],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"OECD Working Papers on Finance, Insurance and Private Pensions","raw_type":"report"},"volume":null,"type":"report","is_traditional":false,"indexed_in":["crossref"],"open_access":{"is_oa":false,"oa_status":"closed","oa_url":null,"any_repository_has_fulltext":false},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5056740895","display_name":"Pablo Antol\u00edn","orcid":"https://orcid.org/0000-0001-9715-7044","observed_orcids":["https://orcid.org/0000-0001-9715-7044"]},"institutions":[{"id":"https://openalex.org/I1288051870","display_name":"Organisation de Coop\u00e9ration et de D\u00e9veloppement Economiques","ror":"https://ror.org/0438wbg98","country_code":"FR","type":"government","lineage":["https://openalex.org/I1288051870"]}],"countries":["FR"],"is_corresponding":false,"raw_author_name":"Pablo Antol\u00edn","raw_affiliation_strings":["OECD","OECD France"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"OECD","institution_ids":["https://openalex.org/I1288051870"]},{"raw_affiliation_string":"OECD France","institution_ids":["https://openalex.org/I1288051870"]}]},{"author_position":"middle","author":{"id":"https://openalex.org/A5013089361","display_name":"St\u00e9phanie Payet","orcid":null,"observed_orcids":[]},"institutions":[{"id":"https://openalex.org/I1288051870","display_name":"Organisation de Coop\u00e9ration et de D\u00e9veloppement Economiques","ror":"https://ror.org/0438wbg98","country_code":"FR","type":"government","lineage":["https://openalex.org/I1288051870"]}],"countries":["FR"],"is_corresponding":false,"raw_author_name":"St\u00e9phanie Payet","raw_affiliation_strings":["OECD","OECD France"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"OECD","institution_ids":["https://openalex.org/I1288051870"]},{"raw_affiliation_string":"OECD France","institution_ids":["https://openalex.org/I1288051870"]}]},{"author_position":"middle","author":{"id":"https://openalex.org/A5064705828","display_name":"Edward Whitehouse","orcid":null,"observed_orcids":[]},"institutions":[{"id":"https://openalex.org/I1288051870","display_name":"Organisation de Coop\u00e9ration et de D\u00e9veloppement Economiques","ror":"https://ror.org/0438wbg98","country_code":"FR","type":"government","lineage":["https://openalex.org/I1288051870"]}],"countries":["FR"],"is_corresponding":false,"raw_author_name":"Edward Whitehouse","raw_affiliation_strings":["OECD"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"OECD","institution_ids":["https://openalex.org/I1288051870"]}]},{"author_position":"last","author":{"id":"https://openalex.org/A5069162235","display_name":"Juan Yermo","orcid":null,"observed_orcids":[]},"institutions":[{"id":"https://openalex.org/I1288051870","display_name":"Organisation de Coop\u00e9ration et de D\u00e9veloppement Economiques","ror":"https://ror.org/0438wbg98","country_code":"FR","type":"government","lineage":["https://openalex.org/I1288051870"]}],"countries":["FR"],"is_corresponding":false,"raw_author_name":"Juan Yermo","raw_affiliation_strings":["OECD","OECD France"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"OECD","institution_ids":["https://openalex.org/I1288051870"]},{"raw_affiliation_string":"OECD France","institution_ids":["https://openalex.org/I1288051870"]}]}],"institutions":[],"countries_distinct_count":1,"institutions_distinct_count":1,"corresponding_author_ids":[],"corresponding_institution_ids":["https://openalex.org/I1288051870"],"apc_list":null,"apc_paid":null,"fwci":null,"has_fulltext":false,"cited_by_count":29,"citation_normalized_percentile":null,"cited_by_percentile_year":null,"biblio":{"volume":null,"issue":null,"first_page":null,"last_page":null},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T10517","display_name":"Financial Literacy, Pension, Retirement Analysis","score":0.9937000274658203,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T10517","display_name":"Financial Literacy, Pension, Retirement Analysis","score":0.9937000274658203,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T10067","display_name":"Stochastic processes and financial applications","score":0.002199999988079071,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T12394","display_name":"Insurance and Financial Risk Management","score":0.0010999999940395355,"subfield":{"id":"https://openalex.org/subfields/2002","display_name":"Economics and Econometrics"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/defined-contribution-pensions","display_name":"defined contribution pensions","score":0.968999981880188},{"id":"https://openalex.org/keywords/capital-guarantee","display_name":"capital guarantee","score":0.8640000224113464},{"id":"https://openalex.org/keywords/accumulation-phase","display_name":"accumulation phase","score":0.6200000047683716},{"id":"https://openalex.org/keywords/investment-strategy","display_name":"investment strategy","score":0.3720000088214874}],"concepts":[{"id":"https://openalex.org/C186027771","wikidata":"https://www.wikidata.org/wiki/Q4008379","display_name":"Valuation (finance)","level":2,"score":0.7030543088912964},{"id":"https://openalex.org/C2780899237","wikidata":"https://www.wikidata.org/wiki/Q156223","display_name":"Pension","level":2,"score":0.6469491720199585},{"id":"https://openalex.org/C2779343474","wikidata":"https://www.wikidata.org/wiki/Q3109175","display_name":"Context (archaeology)","level":2,"score":0.5859681367874146},{"id":"https://openalex.org/C162118730","wikidata":"https://www.wikidata.org/wiki/Q1128453","display_name":"Actuarial science","level":1,"score":0.5404033064842224},{"id":"https://openalex.org/C144133560","wikidata":"https://www.wikidata.org/wiki/Q4830453","display_name":"Business","level":0,"score":0.5139431357383728},{"id":"https://openalex.org/C2991981721","wikidata":"https://www.wikidata.org/wiki/Q156223","display_name":"Pension plan","level":3,"score":0.5096352100372314},{"id":"https://openalex.org/C169549615","wikidata":"https://www.wikidata.org/wiki/Q939134","display_name":"Return on investment","level":3,"score":0.42902541160583496},{"id":"https://openalex.org/C27548731","wikidata":"https://www.wikidata.org/wiki/Q88272","display_name":"Investment (military)","level":3,"score":0.4277309775352478},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.4259995222091675},{"id":"https://openalex.org/C2776291640","wikidata":"https://www.wikidata.org/wiki/Q2912517","display_name":"Value (mathematics)","level":2,"score":0.42079320549964905},{"id":"https://openalex.org/C10138342","wikidata":"https://www.wikidata.org/wiki/Q43015","display_name":"Finance","level":1,"score":0.4197380840778351},{"id":"https://openalex.org/C175444787","wikidata":"https://www.wikidata.org/wiki/Q39072","display_name":"Microeconomics","level":1,"score":0.3770506680011749},{"id":"https://openalex.org/C41008148","wikidata":"https://www.wikidata.org/wiki/Q21198","display_name":"Computer science","level":0,"score":0.22166001796722412},{"id":"https://openalex.org/C17744445","wikidata":"https://www.wikidata.org/wiki/Q36442","display_name":"Political science","level":0,"score":0.0},{"id":"https://openalex.org/C86803240","wikidata":"https://www.wikidata.org/wiki/Q420","display_name":"Biology","level":0,"score":0.0},{"id":"https://openalex.org/C2778348673","wikidata":"https://www.wikidata.org/wiki/Q739302","display_name":"Production (economics)","level":2,"score":0.0},{"id":"https://openalex.org/C119857082","wikidata":"https://www.wikidata.org/wiki/Q2539","display_name":"Machine learning","level":1,"score":0.0},{"id":"https://openalex.org/C151730666","wikidata":"https://www.wikidata.org/wiki/Q7205","display_name":"Paleontology","level":1,"score":0.0},{"id":"https://openalex.org/C199539241","wikidata":"https://www.wikidata.org/wiki/Q7748","display_name":"Law","level":1,"score":0.0},{"id":"https://openalex.org/C94625758","wikidata":"https://www.wikidata.org/wiki/Q7163","display_name":"Politics","level":2,"score":0.0}],"mesh":[],"locations_count":1,"locations":[{"id":"doi:10.1787/5kg52k5b0v9s-en","doi":"https://doi.org/10.1787/5kg52k5b0v9s-en","is_oa":false,"landing_page_url":"https://doi.org/10.1787/5kg52k5b0v9s-en","pdf_url":null,"source":{"id":"https://openalex.org/S4210213477","display_name":"OECD working papers on finance, insurance private pensions","issn_l":"2079-7117","issn":["2079-7117"],"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":null,"host_organization_name":null,"host_organization_lineage":[],"host_organization_lineage_names":[],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"OECD Working Papers on Finance, Insurance and Private Pensions","raw_type":"report"}],"best_oa_location":null,"sustainable_development_goals":[],"study_designs":[],"awards":[],"funders":[],"has_content":{"pdf":false,"grobid_xml":false},"content_urls":null,"referenced_works_count":1,"referenced_works":["https://openalex.org/W3141253330"],"related_works":["https://openalex.org/W4254280345","https://openalex.org/W2499545578","https://openalex.org/W3123212683","https://openalex.org/W2266510291","https://openalex.org/W2290884341","https://openalex.org/W4409903942","https://openalex.org/W3122333460","https://openalex.org/W1607473980","https://openalex.org/W2992622156","https://openalex.org/W2120390432"],"abstract_inverted_index":{"This":[0,134],"paper":[1],"examines":[2],"the":[3,18,27,59,68,71,78,97,137,143],"role":[4],"of":[5,31,61,73,81,127,141],"guarantees":[6,16,75,89,129],"in":[7,11,52,83,96,102,130],"DC":[8,84,132],"pension":[9,85],"plans,":[10],"particular":[12],"minimum":[13],"investment":[14,112],"return":[15,33,128],"during":[17],"accumulation":[19],"phase.":[20],"The":[21,35],"main":[22],"goal":[23],"is":[24],"to":[25],"assess":[26],"cost":[28,140],"and":[29,124,139],"benefits":[30],"different":[32],"guarantees.":[34],"report":[36,69],"uses":[37],"a":[38,49,53,62,131],"stochastic":[39],"financial":[40,50,54],"market":[41,55],"model":[42],"where":[43],"guarantee":[44],"claims":[45],"are":[46],"calculated":[47],"as":[48],"derivative":[51],"framework":[56],"(like":[57],"e.g.":[58],"valuation":[60],"put":[63],"option).":[64],"In":[65],"this":[66,103],"context,":[67],"highlights":[70],"value":[72,80],"capital":[74],"that":[76],"protect":[77],"nominal":[79],"contributions":[82],"plans.":[86],"However,":[87],"such":[88],"can":[90],"only":[91],"be":[92],"introduced":[93],"relatively":[94],"easily":[95],"very":[98],"specific":[99],"context":[100],"considered":[101],"report.":[104],"Allowing":[105],"plan":[106],"members":[107],"vary":[108],"contribution":[109],"periods":[110],"or":[111,114],"strategies,":[113],"change":[115],"providers,":[116],"would":[117,135],"raise":[118],"major":[119],"challenges":[120],"for":[121],"an":[122],"effective":[123],"efficient":[125],"implementation":[126],"context.":[133],"increase":[136],"complexity":[138],"administering":[142],"guarantee.":[144]},"counts_by_year":[{"year":2024,"cited_by_count":2},{"year":2021,"cited_by_count":4},{"year":2020,"cited_by_count":2},{"year":2019,"cited_by_count":4},{"year":2018,"cited_by_count":2},{"year":2017,"cited_by_count":1},{"year":2016,"cited_by_count":5},{"year":2015,"cited_by_count":3},{"year":2014,"cited_by_count":5},{"year":2013,"cited_by_count":1}],"updated_date":"2026-11-07T11:25:07.637180","created_date":"2016-06-24T00:00:00"}