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The pension costs from a defined benefit to individual pension accounts: do they cost more in the case of Taiwan?

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This article develops a market-based liability valuation model to price individual pension costs of a Defined Benefit (DB) pension plan. The purpose is to compare them with the new labour pension plan, Individual Pension Accounts (IPAs), in the case of Taiwan. The results based on the numerical approach show that the new IPAs cost a company more than the old DB plan, except if the average wage growth relative to the risk-free interest rate is high enough.
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Document Type: Research Article

Affiliations: Department of Economics, Tamkang University, 151 Ying-chuan Road, Tamsui, Taipei County, Taiwan 251, ROC

Publication date: 2010-08-01

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