Na 50 Nachlass Arthur Schopenhauer - 'Schopenhauer-Archiv', 594 - Empfehlung der englischen Bank "Government life annuity office"

abgedruckt in: Schopenhauer-Jahrbuch 36 (1955), S 93-94

British offices life annuity tables, 1893.

Mode of access: Internet.

Tools for testing the Solvency Capital Requirement for life insurance

Longevity risk is one of the major risks that an insurance company or a pension fund has to deal with and it is expected that its importance will grow in the near future. In agreement with these considerations, in Solvency II regulation the Standard formula furnished for calculating the Solvency Capital Requirement explicitly considers this kind of risk. According to the new European rules in our paper we suggest a multiperiod approach to evaluate the SCR for longevity risk. We propose a backtesting framework for measuring the consistency of SCR calculations for life insurance policies.

Pennförare i periferin : österbottniska sockenskrivare 1721-1868

Modern research on literacy, the scriptualization of the administration and the interaction between the governing and the governed as part of the political culture, has brought to the fore the issue of different scripts and their terms. The present dissertation focuses on the parish scribes in the county of Ostrobothnia during the period 1721–1868. The peasantry had been given the right to pay parish scribes in 1624. The parish scribes who were to assist the peasants in connection with the collection of taxes simultaneously supervised the bailiffs who collected the taxes. Their writing skills made the scribes indispensable also in many other contexts. In Ostrobothnia, the peasantry had use for parish scribes, who worked as mediators between Swedish and Finnish, between the oral and the written and vice versa. The aim of this dissertation is on the one hand to explore the recruitment of parish scribes, and on the other to examine the parish scribes as a professional and social group. The parish scribes’ significance for the peasantry in everyday life, local decision-making and in connection with political processes will be analyzed by examining their work and professional activities. The recruitment of parish scribes and has been analyzed as a decision process where different actors were able to influence the election. The parish scribes’ competence requirements and terms of employment have been analyzed. The parish scribes as a professional body or a social group has not previously been explored. The examination of the 154 parish scribes as a professional and social group has been carried out in the form of a collective biography. Parish scribes’ tasks originally consisted of the collection of taxes, but the duties within the parish administration increased in the eighteenth and nineteenth centuries. The private writing assignments consisted of many different documents: bills of sale, probate inventories and estate distributions, wills, land tenancy agreements, life annuity and crofter agreements, promissory notes, auction records and different survey documents. The interaction with state power has been analyzed by examining five political decision-making processes that the peasants actively participated in.

Chinese Basic Pension Substitution Rate: A Monte Carlo Demonstration of the Individual Account Model

At the end of 2005, the State Council of China passed ”The Decision on adjusting the Individual Account of Basic Pension System”, which adjusted the individual account in the 1997 basic pension system. In this essay, we will analyze the adjustment above, and use Life Annuity Actuarial Theory to establish the basic pension substitution rate model. Monte Carlo simulation is also used to prove the rationality of the model. Some suggestions are put forward associated with the substitution rate according to the current policy.

I vitalizi impropri

Lo studio delle nuove forme di vitalizio diffuse nella prassi giuridica, da sempre oggetto di vivo interesse, ha sollevato l'annosa e complessa problematica degli incerti rapporti con il modello tipico della rendita vitalizia; diverse, nel tempo, sono state le ricostruzioni della dottrina e della giurisprudenza, che hanno animato e tuttora sollecitano il dibattito dottrinale e giurisprudenziale in detta materia, in relazione alle molteplici ipotesi di vitalizi, tradizionalmente identificati come vitalizi impropri, così da tenerli distinti, almeno dal punto di vista classificatorio, dalla matrice della rendita di fonte codicistica. Delineati i tratti salienti dei medesimi vitalizi e ripercorso il lungo processo evolutivo sulla ricostruzione del concetto di causa del contratto - culminante con l'affermazione della causa quale funzione economico-individuale nonché dell'assoluta rilevanza dell'attenta valutazione degli interessi concretamente in gioco ai fini di una corretta analisi di ogni singola figura negoziale - si è pervenuto, facendo impiego di quest'ultimo criterio di indagine nella verifica, in detta materia, della variegata prassi contrattuale, al superamento della contrapposizione dicotomica di tipicità ed atipicità in sede di inquadramento dei vitalizi impropri ed alla consapevolezza della necessità di esaminare, per ciascuna delle fattispecie di vitalizio improprio, la regolamentazione posta dalle parti, al fine di accertare, volta a volta, la compatibilità delle singole norme legislative in tema di rendita con la concreta sistemazione di interessi voluta dai paciscenti.

Magánnyugdíj-járadékok közötti választás (Choice amongst Hungarian pension funds' annuities )

Ebben a cikkben a magánnyugdíj-járadékok közötti választást vizsgálom. Arra vagyok kíváncsi, hogy a racionális döntéshozó hogyan választ a lehetséges járadékokból. A döntéshozó a várható hasznosságátmaximalizálja. A cikkben megvizsgálom azt az esetet is, ha a döntéshozó számára fontos, hogy gondoskodjék az utódairól, és megvizsgálom a házaspárok optimális döntését is. Felhívom a figyelmet, hogy a nemek közötti differenciálás tilalmának az lehet a következménye, hogy a döntéshozók olyan járadékokat választanak, amely a szolgáltatónak összességében veszteséget okoz. Bemutatom, hogy a halasztott járadékkal kombinált ütemezett pénzkivonás a vizsgált környezetben nem rosszabb, mint a többi lehet}oség, a döntéshozó viszont ebben az esetben a befektetési lehet}oségeket maga választhatja meg. _____________ This paper investigates the decision-maker's choice amongst the pension fund's life annuities in Hungary. Hungarian pension funds have not started providing annuities yet, and the environment requires further regulation. The most significant problems is that the annuity providers must not differentiate between sexes. Pension fund members can choose among different types of life annuities (e.g. they can choose guarantee period or joint life annutity), and the member's choice may cause loss to the annuity provider in general. Since differentation between sexes is not allowed member's opportunities may shrink (e.g. they can not choose guarantee period or joint life annuity).

The role of longevity risk in Hungary

In this paper, I analyze the role of longevity risk in Hungary in the public pension system and the life annuity segment of the life insurance market, which are two primary financial sectors of relevance to this special type of actuarial risk, using state-of-the- art econometric methodology. To this end, I present an overview and the mathematical background of several important current mortality forecasting techniques from the Lee–Carter model up to unifying paradigm of the Age–Period–Cohort family of models. After presenting the findings of a case study on the public pension system based on the paper of Bajk ́o, Maknics, T ́oth and V ́ekas, I conclude that longevity risk jeopardizes the sustainability of the Hungarian public pension system in the long run. In another case study, I present an analysis of the role of longevity risk in the pre- mium of private pension annuities, a relevant topic due to recent changes in a law on Hungarian voluntary pension funds, following an earlier analysis of M ́ajer and Kov ́acs. Based on the criterion on out-of-sample forecasting accuracy, I find that the Cairns–Blake– Dowd mortality forecasting model aimed specifically at modeling old-age mortality outperforms the Lee–Carter model applied by M ́ajer and Kov ́acs . Based on numerical results, I finally conclude that the role of longevity risk in the Hungarian life annuity mar- ket has increased significantly in the past decade and is likely to further increase in the future.

Trading death: the implications of annuity replication for the annuity puzzle, arbitrage, speculation and portfolios

Annuities are perceived as being illiquid financial instruments, and this has limited their attractiveness to consumers and their inclusion in financial models. However, short positions in annuities can be replicated using life insurance and debt, permitting long positions in annuities to be offset, or short annuity positions to be created. The implications of this result for the annuity puzzle, arbitrage between the annuity and life insurance markets, and speculation on expected longevity are investigated. It is argued that annuity replication could help reduce the annuity puzzle, improve the price efficiency of annuity markets and promote the inclusion of annuities in household portfolios.

Development And Shelf-life Determination Of Pasteurized, Microfiltered, Lactose Hydrolyzed Skim Milk.

The segment of the world population showing permanent or temporary lactose intolerance is quite significant. Because milk is a widely consumed food with an high nutritional value, technological alternatives have been sought to overcome this dilemma. Microfiltration combined with pasteurization can not only extend the shelf life of milk but can also maintain the sensory, functional, and nutritional properties of the product. This studied developed a pasteurized, microfiltered, lactose hydrolyzed (delactosed) skim milk (PMLHSM). Hydrolysis was performed using β-galactosidase at a concentration of 0.4mL/L and incubation for approximately 21h at 10±1°C. During these procedures, the degree of hydrolysis obtained (>90%) was accompanied by evaluation of freezing point depression, and the remaining quantity of lactose was confirmed by HPLC. Milk was processed using a microfiltration pilot unit equipped with uniform transmembrane pressure (UTP) ceramic membranes with a mean pore size of 1.4 μm and UTP of 60 kPa. The product was submitted to physicochemical, microbiological, and sensory evaluations, and its shelf life was estimated. Microfiltration reduced the aerobic mesophilic count by more than 4 log cycles. We were able to produce high-quality PMLHSM with a shelf life of 21 to 27d when stored at 5±1°C in terms of sensory analysis and proteolysis index and a shelf life of 50d in regard to total aerobic mesophile count and titratable acidity.

Estimated Disability-adjusted Life Years Averted By Long-term Provision Of Long Acting Contraceptive Methods In A Brazilian Clinic.

What is the contribution of the provision, at no cost for users, of long acting reversible contraceptive methods (LARC; copper intrauterine device [IUD], the levonorgestrel-releasing intrauterine system [LNG-IUS], contraceptive implants and depot-medroxyprogesterone [DMPA] injection) towards the disability-adjusted life years (DALY) averted through a Brazilian university-based clinic established over 30 years ago. Over the last 10 years of evaluation, provision of LARC methods and DMPA by the clinic are estimated to have contributed to DALY averted by between 37 and 60 maternal deaths, 315-424 child mortalities, 634-853 combined maternal morbidity and mortality and child mortality, and 1056-1412 unsafe abortions averted. LARC methods are associated with a high contraceptive effectiveness when compared with contraceptive methods which need frequent attention; perhaps because LARC methods are independent of individual or couple compliance. However, in general previous studies have evaluated contraceptive methods during clinical studies over a short period of time, or not more than 10 years. Furthermore, information regarding the estimation of the DALY averted is scarce. We reviewed 50 004 medical charts from women who consulted for the first time looking for a contraceptive method over the period from 2 January 1980 through 31 December 2012. Women who consulted at the Department of Obstetrics and Gynaecology, University of Campinas, Brazil were new users and users switching contraceptive, including the copper IUD (n = 13 826), the LNG-IUS (n = 1525), implants (n = 277) and DMPA (n = 9387). Estimation of the DALY averted included maternal morbidity and mortality, child mortality and unsafe abortions averted. We obtained 29 416 contraceptive segments of use including 25 009 contraceptive segments of use from 20 821 new users or switchers to any LARC method or DMPA with at least 1 year of follow-up. The mean (± SD) age of the women at first consultation ranged from 25.3 ± 5.7 (range 12-47) years in the 1980s, to 31.9 ± 7.4 (range 16-50) years in 2010-2011. The most common contraceptive chosen at the first consultation was copper IUD (48.3, 74.5 and 64.7% in the 1980s, 1990s and 2000s, respectively). For an evaluation over 20 years, the cumulative pregnancy rates (SEM) were 0.4 (0.2), 2.8 (2.1), 4.0 (0.4) and 1.3 (0.4) for the LNG-IUS, the implants, copper IUD and DMPA, respectively and cumulative continuation rates (SEM) were 15.1 (3.7), 3.9 (1.4), 14.1 (0.6) and 7.3 (1.7) for the LNG-IUS, implants, copper IUD and DMPA, respectively (P < 0.001). Over the last 10 years of evaluation, the estimation of the contribution of the clinic through the provision of LARC methods and DMPA to DALY averted was 37-60 maternal deaths; between 315 and 424 child mortalities; combined maternal morbidity and mortality and child mortality of between 634 and 853, and 1056-1412 unsafe abortions averted. The main limitations are the number of women who never returned to the clinic (overall 14% among the four methods under evaluation); consequently the pregnancy rate could be different. Other limitations include the analysis of two kinds of copper IUD and two kinds of contraceptive implants as the same IUD or implant, and the low number of users of implants. In addition, the DALY calculation relies on a number of estimates, which may vary in different parts of the world. LARC methods and DMPA are highly effective and women who were well-counselled used these methods for a long time. The benefit of averting maternal morbidity and mortality, child mortality, and unsafe abortions is an example to health policy makers to implement more family planning programmes and to offer contraceptive methods, mainly LARC and DMPA, at no cost or at affordable cost for the underprivileged population. This study received partial financial support from the Fundação de Amparo à Pesquisa do Estado de São Paulo (FAPESP), grant # 2012/12810-4 and from the National Research Council (CNPq), grant #573747/2008-3. B.F.B., M.P.G., and V.M.C. were fellows from the scientific initiation programme from FAPESP. Since the year 2001, all the TCu380A IUD were donated by Injeflex, São Paulo, Brazil, and from the year 2006 all the LNG-IUS were donated by the International Contraceptive Access Foundation (ICA), Turku, Finland. Both donations are as unrestricted grants. The authors declare that there are no conflicts of interest associated with this study.

[factors Associated With Satisfaction With Life Among Elderly Caregivers And Non-caregivers].

This article seeks to investigate associations between satisfaction with life and sociodemographic variables, health conditions, functionality, social involvement and social support among elderly caregivers and non-caregivers, as well as between satisfaction and the intensity of stress in the caregiver group. A sample of 338 caregivers was selected according to two items of the Brazilian version of the Elders Life Stress Inventory. A comparison-group of elderly non-caregivers was selected at random, with a similar gender, age and income profile. Data were derived from self-reported questionnaires and scales. Elderly caregivers with low levels of satisfaction and high levels of stress revealed more symptoms of insomnia, fatigue, diseases and worse IADL performance. Those with greater satisfaction and less stress revealed a good level of social support. Insomnia, depression and fatigue were associated with low satisfaction among caregivers, and with fatigue, depression and low social support among non-caregivers. It was considered relevant that instrumental, psychological and informative support can improve the quality of life and the quality of care provided by elderly caregivers, especially if they are affected by unfavorable health and psychosocial conditions and low satisfaction with life.

[association Between Physical And Psychosocial Impacts Of Oral Disorders And Quality Of Life Among The Elderly].

This study sought to evaluate the association between the impact of oral disorders in terms of physical/psychosocial dimensions and quality of life among the elderly. It involved a cross-sectional study conducted among the elderly (65-74 years) in 2008/2009. The social impact was assessed using the Oral Health Impact Profile (OHIP 14) and the quality of life using the SF 12 Short-Form Health Survey. Descriptive, univariate and multivariate (logistic regression) analysis was conducted with correction for the design effect, using SPSS(r)18.0 software. Of the 800 individuals approached, 736 elderly individuals participated (TR = 92%), with a mean age of 67.77 years, the majority of whom showed no impact based on the measurement of the prevalence of OHIP. The functional limitation dimension of the OHIP was associated with the physical domain of the SF12, irrespective of the other variables investigated. However, the seriousness of OHIP and its psychological discomfort and disability dimensions was associated with the mental domain of the SF12. The conclusion reached is that some impacts of oral disorders were associated with unsatisfactory quality of life in the physical and mental domains.

Screening The Life Cycle Of Schistosoma Mansoni Using High-resolution Mass Spectrometry.

Schistosomiasis is a common tropical disease caused by Schistosoma species Schistosomiasis' pathogenesis is known to vary according to the worms' strain. Moreover, high parasitical virulence is directly related to eggs release and granulomatous inflammation in the host's organs. This virulence might be influenced by different classes of molecules, such as lipids. Therefore, better understanding of the metabolic profile of these organisms is necessary, especially for an increased potential of unraveling strain virulence mechanisms and resistance to existing treatments. In this report, direct-infusion electrospray high-resolution mass spectrometry (ESI(+)-HRMS) along with the lipidomic platform were employed to rapidly characterize and differentiate two Brazilian S. mansoni strains (BH and SE) in three stages of their life cycle: eggs, miracidia and cercariae, with samples from experimental animals (Swiss/SPF mice). Furthermore, urine samples of the infected and uninfected mice were analyzed to assess the possibility of direct diagnosis. All samples were differentiated using multivariate data analysis, PCA, which helped electing markers from distinct lipid classes; phospholipids, diacylglycerols and triacylglycerols, for example, clearly presented different intensities in some stages and strains, as well as in urine samples. This indicates that biochemical characterization of S. mansoni may help narrowing-down the investigation of new therapeutic targets according to strain composition and aggressiveness of disease. Interestingly, lipid profile of infected mice urine varies when compared to control samples, indicating that direct diagnosis of schistosomiasis from urine may be feasible.

The Real-life Experience With Cardiovascular Complications In The First Dose Of Fingolimod For Multiple Sclerosis.

Fingolimod is a new and efficient treatment for multiple sclerosis (MS). The drug administration requires special attention to the first dose, since cardiovascular adverse events can be observed during the initial six hours of fingolimod ingestion. The present study consisted of a review of cardiovascular data on 180 patients with MS receiving the first dose of fingolimod. The rate of bradycardia in these patients was higher than that observed in clinical trials with very strict inclusion criteria for patients. There were less than 10% of cases requiring special attention, but no fatal cases. All but one patient continued the treatment after this initial dose. This is the first report on real-life administration of fingolimod to Brazilian patients with MS, and one of the few studies with these characteristics in the world.