Optimal Strategies for Long-Term Sustainability in PAYGO Pension Systems using Control Theory in a Dynamic Nonlinear Framework (2024)

Godínez-Olivares, H., Del Carmen Boado-Penas, M., & Pantelous, A. A. (2014). Optimal Strategies for Long-Term Sustainability in PAYGO Pension Systems using Control Theory in a Dynamic Nonlinear Framework. In M. Beer, S.-K. Au, & J. W. Hall (Eds.), Vulnerability, Uncertainty, and Risk: Quantification, Mitigation, and Management (pp. 1214-1223). American Society of Civil Engineers. https://doi.org/10.1061/9780784413609.122

Godínez-Olivares, Humberto ; Del Carmen Boado-Penas, María ; Pantelous, Athanasios A. / Optimal Strategies for Long-Term Sustainability in PAYGO Pension Systems using Control Theory in a Dynamic Nonlinear Framework. Vulnerability, Uncertainty, and Risk: Quantification, Mitigation, and Management. editor / Michael Beer ; Siu-Kui Au ; Jim W. Hall. American Society of Civil Engineers, 2014. pp. 1214-1223

@inproceedings{fe5898d206d9420eb0a5fc93b94037a7,

title = "Optimal Strategies for Long-Term Sustainability in PAYGO Pension Systems using Control Theory in a Dynamic Nonlinear Framework",

abstract = "The aim of this paper is to design an automatic balancing mechanism based on minimizing changes in the main variables that play a part in a Pay-As-You-Go (PAYGO) pension system (contribution rate, normal retirement age and indexation of pensions) using nonlinear programming. This mechanism identifies and applies an optimal path of these variables to a PAYGO system and absorbs fluctuations in longevity, fertility rates, life expectancy, salary growth or any other random events in a pension plan.",

author = "Humberto God{\'i}nez-Olivares and {Del Carmen Boado-Penas}, Mar{\'i}a and Pantelous, {Athanasios A.}",

note = "Publisher Copyright: {\textcopyright} 2014 American Society of Civil Engineers.; 2nd International Conference on Vulnerability and Risk Analysis and Management and 6th International Symposium on Uncertainty Modeling and Analysis 2014, ICVRAM 2014&ISUMA 2014 ; Conference date: 13-07-2014 Through 16-07-2014",

year = "2014",

month = jul,

day = "7",

doi = "10.1061/9780784413609.122",

language = "English",

isbn = "9780784413609",

pages = "1214--1223",

editor = "Michael Beer and Siu-Kui Au and Hall, {Jim W.}",

booktitle = "Vulnerability, Uncertainty, and Risk",

publisher = "American Society of Civil Engineers",

address = "United States",

}

Godínez-Olivares, H, Del Carmen Boado-Penas, M & Pantelous, AA 2014, Optimal Strategies for Long-Term Sustainability in PAYGO Pension Systems using Control Theory in a Dynamic Nonlinear Framework. in M Beer, S-K Au & JW Hall (eds), Vulnerability, Uncertainty, and Risk: Quantification, Mitigation, and Management. American Society of Civil Engineers, pp. 1214-1223, 2nd International Conference on Vulnerability and Risk Analysis and Management and 6th International Symposium on Uncertainty Modeling and Analysis 2014, Liverpool, United Kingdom, 13/07/14. https://doi.org/10.1061/9780784413609.122

Optimal Strategies for Long-Term Sustainability in PAYGO Pension Systems using Control Theory in a Dynamic Nonlinear Framework. / Godínez-Olivares, Humberto; Del Carmen Boado-Penas, María; Pantelous, Athanasios A.
Vulnerability, Uncertainty, and Risk: Quantification, Mitigation, and Management. ed. / Michael Beer; Siu-Kui Au; Jim W. Hall. American Society of Civil Engineers, 2014. p. 1214-1223.

Research output: Chapter in Book/Report/Conference proceeding › Conference contribution

TY - GEN

T1 - Optimal Strategies for Long-Term Sustainability in PAYGO Pension Systems using Control Theory in a Dynamic Nonlinear Framework

AU - Godínez-Olivares, Humberto

AU - Del Carmen Boado-Penas, María

AU - Pantelous, Athanasios A.

N1 - Publisher Copyright:© 2014 American Society of Civil Engineers.

PY - 2014/7/7

Y1 - 2014/7/7

N2 - The aim of this paper is to design an automatic balancing mechanism based on minimizing changes in the main variables that play a part in a Pay-As-You-Go (PAYGO) pension system (contribution rate, normal retirement age and indexation of pensions) using nonlinear programming. This mechanism identifies and applies an optimal path of these variables to a PAYGO system and absorbs fluctuations in longevity, fertility rates, life expectancy, salary growth or any other random events in a pension plan.

AB - The aim of this paper is to design an automatic balancing mechanism based on minimizing changes in the main variables that play a part in a Pay-As-You-Go (PAYGO) pension system (contribution rate, normal retirement age and indexation of pensions) using nonlinear programming. This mechanism identifies and applies an optimal path of these variables to a PAYGO system and absorbs fluctuations in longevity, fertility rates, life expectancy, salary growth or any other random events in a pension plan.

UR - http://www.scopus.com/inward/record.url?scp=84933558034&partnerID=8YFLogxK

U2 - 10.1061/9780784413609.122

DO - 10.1061/9780784413609.122

M3 - Conference contribution

AN - SCOPUS:84933558034

SN - 9780784413609

SP - 1214

EP - 1223

BT - Vulnerability, Uncertainty, and Risk

A2 - Beer, Michael

A2 - Au, Siu-Kui

A2 - Hall, Jim W.

PB - American Society of Civil Engineers

T2 - 2nd International Conference on Vulnerability and Risk Analysis and Management and 6th International Symposium on Uncertainty Modeling and Analysis 2014

Y2 - 13 July 2014 through 16 July 2014

ER -

Godínez-Olivares H, Del Carmen Boado-Penas M, Pantelous AA. Optimal Strategies for Long-Term Sustainability in PAYGO Pension Systems using Control Theory in a Dynamic Nonlinear Framework. In Beer M, Au SK, Hall JW, editors, Vulnerability, Uncertainty, and Risk: Quantification, Mitigation, and Management. American Society of Civil Engineers. 2014. p. 1214-1223 doi: 10.1061/9780784413609.122