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System Dynamics Approach As A Risk Management Tool In Analyzing Pension Expenditure: The Case Of Malaysian Employees Public Pension Plan

Malaysian employees' public pension plan was studied to analyze pension expenditure due to salary risk and demographic risk. By integrating risk management and System Dynamics (SD) approach, the risk factors involved were identified, a causal loop diagram was constructed, and the SD model was d...

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Main Authors: Hasimah, Sapiri, Razman, Mat Tahar
Format: Article
Published: 2014
Subjects:
TS Manufactures
Online Access:http://umpir.ump.edu.my/id/eprint/8206/
http://dx.doi.org/10.1142/S0217590814500465
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spelling my.ump.umpir.82062015-01-12T03:56:40Z http://umpir.ump.edu.my/id/eprint/8206/ System Dynamics Approach As A Risk Management Tool In Analyzing Pension Expenditure: The Case Of Malaysian Employees Public Pension Plan Hasimah, Sapiri Razman, Mat Tahar TS Manufactures Malaysian employees' public pension plan was studied to analyze pension expenditure due to salary risk and demographic risk. By integrating risk management and System Dynamics (SD) approach, the risk factors involved were identified, a causal loop diagram was constructed, and the SD model was developed. By using a sample of actual data, the proposed model was then validated through behavior validity test and a risk analysis was conducted. Then, risk monitoring was performed through policy evaluation in which the impact of different policy scenarios on pension expenditure was analyzed. Risk management and dynamics simulation approach in analyzing pension expenditure were shown to be useful in evaluating the impact of changes and policy decisions on risk. 2014 Article PeerReviewed Hasimah, Sapiri and Razman, Mat Tahar (2014) System Dynamics Approach As A Risk Management Tool In Analyzing Pension Expenditure: The Case Of Malaysian Employees Public Pension Plan. The Singapore Economic Review, 59 (5). ISSN 0217-5908 http://dx.doi.org/10.1142/S0217590814500465 DOI: 10.1142/S0217590814500465
institution Universiti Malaysia Pahang
building UMP Library
collection Institutional Repository
continent Asia
country Malaysia
content_provider Universiti Malaysia Pahang
content_source UMP Institutional Repository
url_provider http://umpir.ump.edu.my/
topic TS Manufactures
spellingShingle TS Manufactures
Hasimah, Sapiri
Razman, Mat Tahar
System Dynamics Approach As A Risk Management Tool In Analyzing Pension Expenditure: The Case Of Malaysian Employees Public Pension Plan
description Malaysian employees' public pension plan was studied to analyze pension expenditure due to salary risk and demographic risk. By integrating risk management and System Dynamics (SD) approach, the risk factors involved were identified, a causal loop diagram was constructed, and the SD model was developed. By using a sample of actual data, the proposed model was then validated through behavior validity test and a risk analysis was conducted. Then, risk monitoring was performed through policy evaluation in which the impact of different policy scenarios on pension expenditure was analyzed. Risk management and dynamics simulation approach in analyzing pension expenditure were shown to be useful in evaluating the impact of changes and policy decisions on risk.
format Article
author Hasimah, Sapiri
Razman, Mat Tahar
author_facet Hasimah, Sapiri
Razman, Mat Tahar
author_sort Hasimah, Sapiri
title System Dynamics Approach As A Risk Management Tool In Analyzing Pension Expenditure: The Case Of Malaysian Employees Public Pension Plan
title_short System Dynamics Approach As A Risk Management Tool In Analyzing Pension Expenditure: The Case Of Malaysian Employees Public Pension Plan
title_full System Dynamics Approach As A Risk Management Tool In Analyzing Pension Expenditure: The Case Of Malaysian Employees Public Pension Plan
title_fullStr System Dynamics Approach As A Risk Management Tool In Analyzing Pension Expenditure: The Case Of Malaysian Employees Public Pension Plan
title_full_unstemmed System Dynamics Approach As A Risk Management Tool In Analyzing Pension Expenditure: The Case Of Malaysian Employees Public Pension Plan
title_sort system dynamics approach as a risk management tool in analyzing pension expenditure: the case of malaysian employees public pension plan
publishDate 2014
url http://umpir.ump.edu.my/id/eprint/8206/
http://dx.doi.org/10.1142/S0217590814500465
_version_ 1643665811051642880
score 13.211869

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