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Anti-Deficit Management Of Private Defined Benefit Schemes

Author

Listed:
  • Stoyan Kirov

    (University of Economics - Varna)

Abstract
The defined benefit schemes need urgent anti-deficit measures, with which to guaranteetheir solvency under crisis conditions. Although there are no "painless solutions", they must renovate their risk management and mark the direction of their future development. Until the appropriate reforms are selected, their customers and sponsors will lose confidence in them and will create prerequisites for worsening their financial status. That is why in the current work there isassessed the possibility for DB schemes to use some techniques for anti-deficit management, applied by commercial banks and insurance companies, including the ALM model, LDI strategies,etc. These approaches are considered in the context of the specific investment restrictions and standards. Unfortunately, the DB schemes are highly limited by government regulation and canhardly, by way of the market, solve all their problems on their own.

Suggested Citation

  • Stoyan Kirov, 2010. "Anti-Deficit Management Of Private Defined Benefit Schemes," An Annual Book of University of Economics - Varna, University of Economics - Varna, vol. 82(1), pages 208-237, January.
    • Handle: RePEc:vrn:yrbook:y:2010:i:1:p:208-237
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    More about this item

    Keywords

    Anti-Deficit Management; government regulation; risk management; reforms;
    All these keywords.

    JEL classification:

    • G23 - Financial Economics - - Financial Institutions and Services - - - Non-bank Financial Institutions; Financial Instruments; Institutional Investors
    • G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill

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