Target benefit plan modelling
Our current research focuses on target benefit plans, a type of collective pension plan gaining popularity in Canada under which a particular level of pension income is targeted but not guaranteed. Similar plan designs have existed or are being explored in other countries such as the Netherlands, Denmark, Iceland, the UK and the US. We propose to summarize international experience to date and supplement it with the results of stochastic simulations appropriate to the Canadian context. In the first half of the project, the student will assist by organizing information about international experience. In the second half the student will run and modify R code, catalogue results, and prepare visual summaries (tables, figures).