A pension is a fund into which a sum of money is added during an employee's employment years and from which payments are drawn to support the person's retirement from work in the form of periodic payments. A pension may be a "defined benefit plan", where a fixed sum is paid regularly to a person, or a "defined contribution plan", under which a fixed sum is invested that then becomes available at retirement age. Pensions should not be confused with severance pay; the former is usually paid in regular amounts for life after retirement, while the latter is typically paid as a fixed amount after involuntary termination of employment before retirement.
Welfare, or commonly social welfare, is a type of government support intended to ensure that members of a society can meet basic human needs such as food and shelter. Social security may either be synonymous with welfare, or refer specifically to social insurance programs which provide support only to those who have previously contributed, as opposed to social assistance programs which provide support on the basis of need alone. The International Labour Organization defines social security as covering support for those in old age, support for the maintenance of children, medical treatment, parental and sick leave, unemployment and disability benefits, and support for sufferers of occupational injury.
Pensim2 is a dynamic microsimulation model to simulate the income of pensioners, owned by the British Department for Work and Pensions.
Microsimulation is a category of computerized analytical tools that perform highly detailed analysis of activities such as highway traffic flowing through an intersection, financial transactions, or pathogens spreading disease through a population. Microsimulation is often used to evaluate the effects of proposed interventions before they are implemented in the real world. For example, a traffic microsimulation model could be used to evaluate the effectiveness of lengthening a turn lane at an intersection, and thus help decide whether it is worth spending money on actually lengthening the lane.
The European Social Fund Plus (ESF+) is one of the European Structural and Investment Funds (ESIFs), which are dedicated to improving social cohesion and economic well-being across the regions of the Union. The funds are redistributive financial instruments that support cohesion within Europe by concentrating spending on the less-developed regions.
A tax-benefit model is a form of microsimulation model. It is usually based on a representative or administrative data set and certain policy rules. These models are used to cost certain policy reforms and to determine the winners and losers of reform. One example is EUROMOD, which models taxes and benefits for 27 EU states, and its post-Brexit offshoot, UKMOD.
TransModeler is the name of a based traffic simulation platform for doing wide-area traffic planning, traffic management, and emergency evacuation studies that is developed by Caliper Corporation. It can animate the behavior of multi-modal traffic systems to show the flow of vehicles, the operation of traffic signals, and the overall performance of the transportation network.
The European Globalisation Adjustment Fund for Displaced Workers (EGF) was set up by the European Union in late 2006 to support to workers who have been made redundant as a result of trade liberalisation, so that they can either remain in employment or find a new job quickly. It provides counselling; job search and mobility allowances; new ICT skills and other forms of training; entrepreneurial support, including micro-credits.
The Luxembourg Institute of Socio-Economic Research (LISER) is a research centre located in Esch-sur-Alzette, Luxembourg.
Traffic simulation or the simulation of transportation systems is the mathematical modeling of transportation systems through the application of computer software to better help plan, design, and operate transportation systems. Simulation of transportation systems started over forty years ago, and is an important area of discipline in traffic engineering and transportation planning today. Various national and local transportation agencies, academic institutions and consulting firms use simulation to aid in their management of transportation networks.
Paramics is traffic microsimulation software, originally developed by Quadstone Ltd. There is a related pedestrian microsimulation product called the Urban Analytics Framework.
TARKI Social Research Institute is an independent research centre located in Budapest, Hungary. TARKI conducts applied socioeconomic research in social stratification, labour markets, income distribution, intergenerational transfers, tax-benefit systems, consumption and lifestyle patterns and attitudes in Hungary and, in the majority of its projects, in Europe. TARKI is closely embedded in international collaborations with major European academic partners in various research projects. Senior staff at TARKI all have PhDs with substantive and methodological interests and many hold professorial appointments at major universities. TARKI has its own fieldwork apparatus, capable of carrying out regular empirical surveys on social structure and on attitudes and of managing large scale international research. TARKI also carries out the Hungarian fieldwork of various high-quality international surveys.
For pensions, a reliable Pension model is necessary for system simulations and projections, so it is important to have a sound database for pension system analyses. For an example of a complex pension model see e.g..
A dynamic microsimulation pension model is a type of a pension model projecting a pension system by means of a microsimulation and generating the complete history of each individual in a data set. The results of such model offer both the aggregate and individual indicators of the pension system. Thanks to complexity of results, there is a possibility to investigate the distribution of pensions, poverty of pensioners, impact of the changes of the pension formula, for more examples see e.g.. Detailed individual set of (administrative) data should serve as a model input.
Historical dynamics broadly includes the scientific modeling of history. This might also be termed computer modeling of history, historical simulation, or simulation of history - allowing for an extensive range of techniques in simulation and estimation. Historical dynamics does not exist as a separate science, but there are individual efforts such as long range planning, population modeling, economic forecasting, demographics, global modeling, country modeling, regional planning, urban planning and many others in the general categories of computer modeling, planning, forecasting, and simulations.
Social Protection in Armenia is an Armenian state policy, which addresses social protection issues and supports the social welfare of citizens. It is overseen by the Ministry of Labor and Social Affairs.
The Nigerian Capital Development Fund (NCDF) is an independent social investment financial intermediary institution. This hybrid organization was set up mainly to address the challenges of poverty in low income rural communities in Nigeria. The institution mobilizes capital from the public and private sectors to invest in projects, businesses and social enterprises with the intention to generate good financial returns and measurable positive social-environmental impact, as well as act as a champion to help increase awareness and confidence on the advantages of impact investing.
An occupational pension fund, also referred to as an employer funded or employer administered scheme, is a pension offered by an employer to an employee's retirement scheme. Within the European Union (EU), these pension funds can vary throughout certain Member States due to differences in retirement ages in Europe, salaries and length of careers, labour and tax laws, and phases of reform.
Asghar Zaidi is a social policy analyst and population ageing researcher. He is the 4th and current Vice Chancellor and 31st head of the Government College University Lahore (GCU), serving since October 2019. Previously, he served as the Professor of Social Gerontology at Seoul National University, South Korea.
