Course co-ordinator(s): Peter Ridges (Edinburgh).
Aims:
The aims of this course are:
- To provide an understanding of the roles and needs of the parties involved in the provision of pensions, including social security
- To provide a thorough understanding of alternative systems of pension provision, and their financing
- To provide an understanding of the factors involved in pension scheme design
- To provide an understanding of issues relating to sponsor covenants in occupational pension schemes
Detailed Information
Pre-requisites: none.
Linked course(s): F71PD Pensions B .
Location: Edinburgh.
Semester: 1.
Syllabus:
Different Types of Pension scheme
- Defined Benefit
- Defined Contribution
- Hybrid
- Social Security
- Individual Accounts
- Personal Pensions
Key Stakeholders
- State
- Employers
- Individuals
Timing of Contributions
- Pay-As-You-Go
- Funding
- Book Reserving
Types of Investment
- Direct Investment
- Insurance Products
Sponsor Covenant
- Measurement
- Monitoring
Scheme Design
- Eligibility
- Benefits
- Contributions
Learning Outcomes: Subject Mastery
On completion of this course the student should be able to:
- Define the principal terms used in the provision of pensions
- Describe the role that the various parties may play in the provision of pensions and other benefits
- Compare alternative systems of social security, mandatory individual accounts, occupational pension schemes and personal pensions
- Describe the various ways in which the parties may meet their needs
- Discuss the implications, for the various parties of the environment in which benefits are provided
- Describe the ways in which providers may be able to finance the benefits to be provided
- Discuss the issues surrounding sponsor covenant
- Discuss the factors to consider in determining a suitable design, in terms of benefits and contributions
Learning Outcomes: Personal Abilities
- Show an appreciation of the interface between academic theory and industrial practice
- Demonstrate the ability to learn independently and as part of a group
- Manage time, work to deadlines and prioritise workloads
- Present results in a way that demonstrates that they have understood the technical and broader issues of the pensions environment
- Show an appreciation of the various potential conflicts between pensions stakeholders
Assessment Methods:
Assessment:
Examination: (Weighting at least 80%)
Coursework: (weighting up to 20%)
SCQF Level: 11.
Credits: 15.
Other Information
Help: If you have any problems or questions regarding the course, you are encouraged to contact the lecturer
VISION: further information and course materials are available on VISION