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Can professors afford to retire? Evidence from a survey of Canadian university pension plans

机译:教授可以负担退休吗?来自加拿大大学退休金计划调查的证据

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摘要

I explore the diversity among pension plans offered to faculty at 52 Canadian universities. Far from displaying homogeneity, I find marked differences between the plans, both in their structure (DB, DC, and hybrid) and in the replacement ratios from those plans. Using financial simulations I construct representative pension payoff profiles for each plan and find expected replacement ratios (the annual annuity stream available at retirement expressed as a percentage of final wages) ranging from 54.3% to 88.2% and internal rates of return on contributions varying from 10.39% to 18%.
机译:我探讨了加拿大52所大学向教师提供的退休金计划之间的差异。除了显示同质性外,我还发现计划之间在结构(数据库,DC和混合)以及这些计划的替换率方面存在明显差异。通过财务模拟,我为每个计划构建了代表性的养老金支付配置文件,并找到了预期的替代率(退休时可获得的年金流,以最终工资的百分比表示)在54.3%至88.2%之间,内部收益率在10.39之间变化。 %至18%。

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