volume 7, issue 4, P605-662 2001
DOI: 10.1017/s1357321700002488
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R.J. Chapman, T.J. Gordon, C.A. Speed

Abstract: In this paper, we identify the economic system in which occupational pension schemes operate. This system includes all parties to the pension arrangement, particularly the members of the scheme and the shareholders of the sponsoring company. This requires us to model the pension scheme not as a self-contained fund, but simultaneously alongside the company, and to recognise its interaction with other parties with financial interests in the scheme. Under this method, the stakes of the various parties aggregate …

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