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How fgts would become an efficient defined contribution retirement plan investing in selfies. A solution focused on future real income
This article proposes changes in the General Fund for Length of Service (FGTS) rules based on Relative Asset Pricing Model (RAPM) theory, having a New Brazilian Government Bond (NBGB), based on SeLFIES (Standard of Living Indexed, Forward-starting, Income-only Securities), as its main asset. This proposal results from an inductive research of Brazilian Laws ruled mandatory investments of Defined Contribution (DC) plans in the past. ; This article proposes changes in the General Fund for Length of Service (FGTS) rules based on Relative Asset Pricing Model (RAPM) theory, having a New Brazilian Government Bond (NBGB), based on SeLFIES (Standard of Living Indexed, Forward-starting, Income-only Securities), as its main asset. This proposal results from an inductive research of Brazilian Laws ruled mandatory investments of Defined Contribution (DC) plans in the past.
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How Brazil's RendA Bond Could Render DC Retirement Risk Obsolete: A Case Study
In: Retirement Management Journal, Forthcoming
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How Brazil's RendA Bond Could Render DC Retirement Risk Obsolete: A Case Study
In: Retirement Management Journal, Band 12, Heft 1, S. 32-43
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SeLFIES Can Help Brazil Create a SUPER Supplementary Pension
In: Revista Brasileira de Previdência, 11ª edição – Primeiro Semestre I-2020
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SeLFIES Can Help Brazil Create a SUPER Supplementary Pension ; Selfies Can Help Brazil Create a Super Supplementary Pension
Brazilian policy makers and researchers have discussed the introduction of a complementary pension system to complement the Regime Geral de Previdência Social (RGPS), specially for those that want a retirement income above the RGPS ceiling. This article first recommends that the complementary system must be SUPER (Simple, Universal, Portable, Efficient with low cost and Robust Regulatation). It then proposes the adoption of a financial innovation called SeLFIES (Standard-of-Living, Forward-starting, Income-only Securities), as the default investment option for a modern capitalization regime. Brazil presents an interesting opportunity to be the first country to adopt and implement SeLFIES given the initial conditions, especially the innovations introduced in the market for government bonds. This financial innovation would help the Brazilian government address two challenges simultaneously: improve retirement security (by including even the most financially illiterate people and those in the informal sector in retirement plans) and boost infrastructure financing. ; Brazilian policy makers and researchers have discussed the introduction of a complementary pension system to complement the Regime Geral de Previdência Social (RGPS), specially for those that want a retirement income above the RGPS ceiling. This article first recommends that the complementary system must be SUPER (Simple, Universal, Portable, Efficient with low cost and Robust Regulatation). It then proposes the adoption of a financial innovation called SeLFIES (Standard-of-Living, Forward-starting, Income-only Securities), as the default investment option for a modern capitalization regime. Brazil presents an interesting opportunity to be the first country to adopt and implement SeLFIES given the initial conditions, especially the innovations introduced in the market for government bonds. This financial innovation would help the Brazilian government address two challenges simultaneously: improve retirement security (by including even the most financially illiterate people and those in the informal sector in retirement plans) and boost infrastructure financing.
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