Wharton Pension Research Council Working Papers

Document Type

Working Paper

Date of this Version



The paper will discuss the proposed regulatory frameworks (market valuation of liabilities) in Europe and the implications it will have on pension provision. The impact on current DB pension schemes and insured solutions with guarantees will be discussed in detail especially on the sustainability of the current guaranteed products. Collective solutions that are capital efficient under the proposed regulatory framework will be outlined as a viable alternative to Individual DC.


The published version of this Working Paper may be found in the 2014 publication: Recreating Sustainable Retirement: Resilience, Solvency, and Tail Risk.

Working Paper Number


Copyright/Permission Statement

All opinions, errors, findings, interpretations, and conclusions of this paper represent the views of the authors and not those of the Wharton School or the Pension Research Council. © 2013 Pension Research Council of the Wharton School of the University of Pennsylvania. All rights reserved.

Included in

Economics Commons



Date Posted: 26 June 2019