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Title:	退休後之最適投資策略及年金化時間點
Authors:	陳俊宇
Contributors:	黃泓智陳俊宇
Keywords:	退休規劃靜態資產配置半動態式資產配置生命年金尾端條件期望值
Date:	2009
Issue Date:	2016-05-09 11:51:47 (UTC+8)
Abstract:	近年來由於醫療技術之進步再加上物價不斷調漲的影響，使得老年人在退休時需要更多的財富來因應及保障基本的生活支出，故退休規劃對於老年人而言是個不可不重視的議題，且年金保險的設計就是在保障老年人的經濟生活不虞匱乏的一種方式，故本文主要採取之策略為自我資產配置一段期間後再將所有的財富轉換成年金。本篇使用靜態及半動態式的資產配置並配合退休者的風險容忍程度，找出退休者在退休後最適的投資策略及最適購買年金保險的時點。本文中，風險控制之設定乃是採用尾端條件期望值(CTE)的概念，且會設定兩種不同的目標函數，一個為有考慮遺產動機之函數，另一個則無考慮，最後再找出各個之結果。最後，本文也有考慮兩個比較符合實務的例子。第一，當保險公司銷售年金商品時加入附加費用率，對於退休者最適年金化年齡之影響。第二，實務上，一般退休者對於自我資金上的運用可能會拆成兩部分，一部分之資產用於購買年金保險，剩下另一部分為自我做資產配置，最後再比較此策略與全部自我資產配置再年金化策略之結果。
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Description:	碩士國立政治大學風險管理與保險研究所 95358026
Source URI:	http://thesis.lib.nccu.edu.tw/record/#G0095358026
Data Type:	thesis
Appears in Collections:	[Department of Risk Management and Insurance] Theses

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