Longevity Symposium
As populations in countries around the world age, governments, corporations and individuals face an increasing financial risk. Because people are living longer, there is a growing concern that state and corporate pension systems may be inadequate and that many seniors may end their lives in poverty.
According to Richard MacMinn, Edmondson-Miller Chair in Insurance and Financial Services at Illinois State. when major corporations back away from their defined benefits plans because they fear they cannot cover the longevity risk, individuals have to devote more of their income to retirement saving. This results in a drop in consumer spending and economic growth. The symposium will present valuable information on capital market solutions to longevity risk.
These risks will be examined in the 8th Bowles Symposium and Second International Longevity Risk and Capital Market Solutions Symposium held in Chicago on Monday, April 24, at the Sheraton Chicago Hotel and Towers, 301 East North Water St. The event runs from 8 a.m. to 5 p.m.
The one-day symposium is aimed at representatives from pension funds, actuarial consultancies, the insurance industry, investment banks, government departments and academics from the fields of actuarial science, pensions, financial economics, insurance and public policy. Other symposium speakers will include actuaries, demographers, financial economists and industry experts from the United States and United Kingdom. Sessions throughout the day will focus on issues such as the demographics of longevity risk, government and private industry-issued longevity bonds and the costs associated with longevity risk.
The event is organized by Richard MacMinn, the Edmondson-Miller Chair in Insurance and Financial Services at Illinois State University and editor of the Journal of Risk and Insurance, and David Blake of the Pensions Institute at the Cass Business School in London. For more information and a complete list of speakers, topics and times visit http://journalofriskandinsurance.org/Longevity.
