The Life Cycle Model with Recursive Utility: Defined Benefit vs Defined Contribution?

Classical public pension schemes combine usually PAYG mechanism and Defined Benefit architecture. Aging threatens clearly this kind of structure and motivates the development of hybrid solutions mixing on one side PAYG and Fully funding and on the other side DB and DC (Defined Contribution). The purpose of this presentation is to develop some of these hybrid plans and introduce actuarial tools in order to implement inter-generational and intra generational fairness and sustainability in these public programs.

Speaker: Pierre Devolder
Session Moderator: Jennifer Alonso Garcia

Unlock how Artificial Intelligence is reshaping pensions and social security work. Join us for an insightful session featuring leading actuarial AI expert Ronald Richman, who will share practical applications of AI in longevity modelling, experience analysis, and actuarial workflow automation. This webinar will highlight real-world use insights, emerging opportunities, and what actuaries doing work in pensions and social security need to know to stay ahead in an AI-driven future.

Be sure to join us for what promises to be an informative and engaging discussion.

Speaker: Ronald Richman
Moderator: John Anderson

Introducing AI in Pension Planning: A Comparative Study of Deep Learning and Fuzzy Mamdani Inference Systems for Estimating Replacement Rates
Funded pensions have gained considerable attention as a strategy for securing supplementary income in retirement. This presentation aims to provide a comparative analysis of two methods for estimating the replacement rate: a deep learning model and a Fuzzy Mamdani Inference System (FIS). Since AI has gained considerable ground in the actuarial universe, an obvious step would be to investigate AI techniques, such as neural networks and fuzzy logic, in the realm of pension planning. Initial results indicate that these methods provide accurate estimations, warranting further analysis.
Speaker: Georgios Symeonidis
Moderator: Jennifer Alonso Garcia

This webinar will explore the pioneering legislation of the European Union’s AI Act, the world’s first comprehensive regulatory framework for artificial intelligence. It delves into the AI Act’s risk-based approach to categorising AI systems, its implications for the insurance and risk management sectors, and its specific relevance to actuarial practices, offering actionable insights for actuaries to align compliance efforts with responsible AI deployment. The discussion emphasises the role of actuaries in ensuring AI systems are transparent, ethical, and aligned with societal and organisational goals. The insights provided aim to guide professionals in navigating the complexities of AI governance while leveraging its potential to innovate and manage risks effectively.


Speakers: Bogdan Tautan and Esko Kivisaari
Session Moderator: Raffaello Marcelloni