Solvency and performance persistence of defined benefit private and public pension plans

IF 1.4 Q3 ECONOMICS

African Journal of Economic and Management Studies Pub Date : 2022-12-26 DOI:10.1108/ajems-02-2022-0062

Bruvine Orchidée Mazonga Mfoutou, Yuan Xie

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引用次数: 0

Abstract

PurposeThis study aims to examine the solvency and performance persistence of defined benefit private and public pension plans (DBPPs) in the Republic of Congo.Design/methodology/approachThe authors use the 2 × 2 contingency table approach and the time product ratio (TPR)-based cross-product ratio (CPR) on data covering ten years from 2011 to 2020, with variable funded ratios and excess returns, to determine the solvency and performance persistence of defined benefit pension plans.FindingsThe authors document a lack of solvency and performance persistence in DBPP funds. They conclude that the solvency and performance of DBPP funds are not repetitive. The previous year's private and public defined benefit pension funds’ results do not repeat in the current year. Hence, the current solvency and performance of defined benefit pension funds are not good predictors of future funds' solvency and performance.Originality/valueTo the best of the authors’ knowledge, this study is the first to combine solvency and performance to examine the persistence of defined benefit pension plans in sub-Saharan Africa.

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固定收益私人和公共养老金计划的偿付能力和绩效持久性

目的本研究旨在考察刚果共和国固定收益私人和公共养老金计划(DBPPs)的偿付能力和绩效持久性。设计/方法/方法采用2 × 2权变表法和基于时间产品比率(TPR)的跨产品比率(CPR)法，对2011 - 2020年10年的数据，在可变的基金比率和超额回报下，确定了固定收益养老金计划的偿付能力和绩效持续性。作者记录了DBPP基金缺乏偿付能力和绩效持久性。他们的结论是，DBPP基金的偿付能力和绩效不重复。前一年的私人和公共固定收益养老基金的结果不会在今年重复。因此，固定收益养老基金的当前偿付能力和绩效并不能很好地预测未来基金的偿付能力和绩效。原创性/价值据作者所知，本研究首次将偿付能力和绩效结合起来，考察撒哈拉以南非洲地区固定收益养老金计划的持久性。

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来源期刊

African Journal of Economic and Management Studies ECONOMICS-

CiteScore

3.20

自引率

7.70%

发文量

期刊介绍： African Journal of Economic and Management Studies (AJEMS) advances both theoretical and empirical research, informs policies and practices, and improves understanding of how economic and business decisions shape the lives of Africans. AJEMS is a multidisciplinary journal and welcomes papers from all the major disciplines in economics, business and management studies.