Des contrats de mariage innovateurs

Article publié avec l'autorisation de la Chambre des notaires du Québec

La Cour suprême se prononce sur le poids des ententes alimentaires de divorce

Article publié avec l'autorisation de la Chambre des notaires du Québec

Papa, maman, bébé et... Fido! L'animal de compagnie en droit civil ou l'émergence d'un nouveau sujet de droit

Faculté de droit

Financial literacy and pension investment decisions

The call for enhanced financial literacy amongst consumers is a global phenomenon, driven by the growing complexity of financial markets and products, and government concerns about the affordability of supporting an ageing population. Worldwide, defined benefit pensions are giving way to the risk and uncertainty of defined contribution superannuation/pension funds where fund members now make choices and decisions that were once made on their behalf. An important prerequisite for informed financial decision-making is adequate financial knowledge and skills to make competent investment decisions. This paper reports the findings of an online survey of the members of a large Australian public sector-based superannuation fund and shows that although respondents generally understand basic financial matters, on average, their understanding of investments concepts, such as the relationship between risk and returns, is inadequate. These results highlight the need for education programs focusing specifically on developing fund members’ investment knowledge and skills to facilitate informed retirement savings decisions.

Assessing financial reporting comparability across institutional settings : the case of pension accounting

The drive for comparability of financial information is to enable users to distinguish similarities and differences in economic activities for an entity over time and between entities so that their resource allocation decisions are facilitated. With the increased globalisation of economic activities, the enhanced international comparability of financial statements is often used as an argument to advance the convergence of local accounting standards to international financial reporting standards (IFRS). Differences in the underlying economic substance of transactions between jurisdictions plus accounting standards allowing alternative treatments may render this expectation of increased comparability unrealistic. Motivated by observations that, as a construct, comparability is under-researched and not well understood, we develop a comparability framework that distinguishes between four types of comparability. In applying this comparability framework to pension accounting in the Australian and USA contexts, we highlight a dilemma: while regulators seek to increase the likelihood that similar events are accounted for similarly, an unintended consequence may be that preparers are forced to apply similar accounting treatment to events that are, in substance, different.

Australia's disabling income support system: Tracing the history of the disability pension from 1908 to today

This article is based on a historical-comparative policy and discourse analysis of the principles underpinning the Australian disability income support system. It determines that these principles rely on a conception of disability that sustains a system of coercion and paternalism that perpetuates disability and referred to as disablism. The article examines the construction of disability in Australian income support across four major historical epochs spanning the period 1908-2007. Contextualisation of the policy trajectory and discourses of the contemporary disability pension regime for the time period 2008-now is also provided. Two major themes were found to have interacted with the ideology of disablism. This article argues that a non-disabling provision based on social citizenship, rather than responsible or productive citizenship, counters the tendency for authoritarian and paternal approaches. [Abridged]

The Impact of New Capital Requirements on the Portfolio Decisions of Finnish Pension Institutions

This paper examines the potential impact of new capital requirements on asset allocations of Finnish pension institutions. We describe the new requirements and consider portfolio construction to minimize regulatory capital, given the investor’s preferred level of expected return. Results identify portfolio transactions that enhance expected return without increasing capital needs. Regulation calls for portfolio diversification and prudence in management, but this paper shows that market participants can exploit inconsistencies in regulation. Possible future consequences include capital outflows from the pension system and an unintended decrease in pre-funding of old-age pensions.

Swedish Premium Pension Funds: Attributes and Performance

This study investigates the relationship between fund attributes and performance. The focus is on funds available in the Swedish Premium Pension system (PPM-funds). The aim has been to investigate whether administration fees, manager tenure or past performance are of importance for pension savers when they pick their PPM-funds. The results indicate that high fees are a disadvantage to pension savers investing in bond funds but not to those investing in stock funds. Manager tenure has no relationship with performance. There is evidence of performance persistency in most of the investigated fund categories.

Pension system's reform in Spain: a dynamic analysis of the effects in Welfare

100 p. : graf.

Le régime alimentaire de Dentex angolensis, Poll et Maul, 1953 (Sparidae)

The food of Dentex angolensis, studied from 386 stomachs, consists essentially of small epibenthic crustaceans and, with less importance, of fishes. A systematic list with abundance and occurrence is given here. It is noted that the composition of the stomach content can differ with depth and season.

The Spanish Pension System: Overview and Long-Term Projections

In the middle of the so-called pension crisis, the ageing of population and the sharp decrease in affiliations to Social Security are threatening the well-functioning of the Spanish public pension system. The purpose of this paper is to present the main challenges to be faced by the Spanish pension system, as well as to shed light on the main determinants that will condition the evolution of pension expenditure over GDP along the following decades. This quantitative analysis, which considers the 2011 and 2013 pension reforms, uses the latest data on the Spanish demographic, labor market and institutional factors in order to project the evolution of the system from the expenditure side up to 2060. For the purpose of analyzing the dynamics and the underlying drivers of pension expenditure, the so-called aggregate accounting approach will be utilized. The alternative scenarios proposed allow for exploring the robustness of the results within the baseline scenario, which constitutes the reference point of projections in the exercise. The analysis concludes that, by the end of the projected period, Spain will count on a similar public pension expenditure ratio as the current one.

Note sur le régime alimentaire de quelques poissons démérsaux de Côte d'Ivoire

Stomach contents from 21 species of demersal fish caught on Grand Bassam (Côte d'Ivoire) fishing grounds at 20 and 35 m depth are analyzed. The results are compared with those of Longhurst (1957, 1960). The great importance of Crustacea in the food of those species appears clearly. A representative scheme of the diet is suggested.

Régime alimentaire de la phase lagunaire de Elops lacerta (C.V. 1846)

Elops lacerta is a juvenil's predator of all the fish species living in the same biotope. its preys follow three systematic orders: 1 - Fishes: they are the most important in the stomachal contents of Elops lacerta, and are dominated by clupeidae, mainly by Ethmalosa fimbriata; 2 - Shrimps: mainly the Peneidae, are not very important; 3 - Molluscs: they are the less important preys and are represented by only one Pelecypoda family: the Corbulidae. This earlier predator feeds rather at night than during the day. It has neither preferential prey nor apparent seasonal variations in its food habits.