公开(公告)号：US08566206B2

公开(公告)日：2013-10-22

申请号：US12638668

申请日：2009-12-15

申请人： Jonathan Stolerman ,  Timothy Lyons ,  Wayne Chen ,  Fiona Page

发明人： Jonathan Stolerman ,  Timothy Lyons ,  Wayne Chen ,  Fiona Page

IPC分类号： G06Q40/00

CPC分类号： G06Q40/06 ,  G06Q10/067 ,  G06Q10/1057 ,  G06Q40/00

摘要： There is provided a computer-implemented method of projecting the future cash flows of a pension scheme, comprising: receiving data representative of the members of the pension scheme; receiving data representative of a mortality assumption; calculating, using data processing apparatus, for each pension scheme member, a projection of the future cash flow liabilities of the pension scheme to that member on the basis of the pension scheme member data and by applying the mortality assumption data to the pension scheme member data; and generating, using data processing apparatus, data representative of a projected liability cash flow of the pension scheme to all of its members by aggregating the liabilities to each member.

摘要翻译： 提供了一种计算机实施的预测养老金计划未来现金流量的方法，包括：接收代表养老金计划成员的数据; 接收代表死亡率假设的数据; 对每个养老金计划成员使用数据处理设备，计算养老金计划的未来现金流量负债，根据养老金计划成员资料向该成员预测，并将死亡假设数据应用于养老金计划成员资料 ; 并使用数据处理装置，将代表养老金计划的预计负债现金流量的数据通过汇总对每个成员的负债来产生给其所有成员。

公开(公告)号：US20100121785A1

公开(公告)日：2010-05-13

申请号：US12612299

申请日：2009-11-04

申请人： Timothy Lyons ,  Jonathan Stolerman ,  Wayne Chen ,  Darren Best

发明人： Timothy Lyons ,  Jonathan Stolerman ,  Wayne Chen ,  Darren Best

IPC分类号： G06Q40/00

CPC分类号： G06Q40/06

摘要： There is provided a method of securitizing a pension fund associated with a pension scheme, comprising: calculating, using data processing apparatus, the expected liabilities of a pension scheme to at least a portion of its members taking into account an expected mortality of the scheme members; issuing from a securities issuing entity a financial instrument which undertakes to pay to an investor a cash flow according to a payment schedule, said expected liabilities being establishing as the initial payment schedule of a financial instrument; exchanging financial instrument with assets held by pension fund; and supporting the securities issuing entity in issuing the financial instrument by providing risk capital to the securities issuing entity; wherein the risk capital is initially provided by at least three separate equity investor entities. One of the equity investor entities may be the corporate sponsor of the pension scheme. Alternatively the risk capital is initially provided by the corporate sponsor of the pension scheme.

摘要翻译： 提供了一种与养老金计划相关的退休基金证券化的方法，包括：使用数据处理设备，计算养老金计划的至少一部分成员的预期负债，同时考虑到计划成员的预期死亡率 ; 从证券发行机构发行承诺根据付款时间表向投资者支付现金流量的金融工具，预计负债确定为金融工具的初始付款时间表; 与养老基金持有的资产交换金融工具; 通过向证券发行机构提供风险资本，支持证券发行机构发行金融工具; 其中风险资本最初由至少三个独立的股权投资者实体提供。 其中一个股权投资者实体可能是养老金计划的公司赞助商。 或者，风险资本最初由养老金计划的公司赞助商提供。

公开(公告)号：US20100121783A1

公开(公告)日：2010-05-13

申请号：US12612274

申请日：2009-11-04

申请人： Timothy Lyons ,  Jonathan Stolerman ,  Wayne Chen ,  Darren Best

发明人： Timothy Lyons ,  Jonathan Stolerman ,  Wayne Chen ,  Darren Best

IPC分类号： G06Q40/00 ,  G06N5/02 ,  G06Q50/00

CPC分类号： G06Q40/06 ,  G06Q40/04

摘要： There is provided a computer-implemented method of estimating a capital reserve requirement to cover the longevity risk exposure of a financial instrument in the case of a future longevity shock, the financial instrument undertaking to pay to an investor sums according to a payment schedule of amounts arranged to match with the future cash flow obligations of a pension scheme to at least a portion of its members. The method comprises: (a) calculating, using computing apparatus, an expected payment schedule of the financial instrument by calculating what the cash flow obligations of the pension scheme to its relevant members would be in the case of an expected longevity scenario for the pension scheme membership occurring; (b) calculating, using computing apparatus, a present value of the financial instrument in the case of a stressed longevity scenario for the pension scheme membership in which a longevity-related shock to the expected longevity scenario of the pension scheme membership occurs; and (c) calculating, using computing apparatus and using the calculations of the expected payment schedule and a present value of the financial instrument in the case of a stressed longevity scenario, an estimate of the longevity capital reserve required to ensure that the future cash flow obligations of the financial instrument would be covered in the event that the stressed longevity scenario were to occur.

摘要翻译： 提供了一种计算机实施的方法，用于在未来长寿震惊的情况下估算资本公积金要求以涵盖金融工具的长寿风险敞口，承诺根据付款时间表向投资者支付金额的金额 安排将养老金计划的未来现金流义务与其至少一部分成员相匹配。 该方法包括：（a）使用计算设备计算金融工具的预期支付时间表，计算养老金计划对其相关成员的现金流量义务对于养老金计划的预期寿命情况而言是什么 会籍发生; （b）计算使用计算设备的金融工具的现值，就养老金计划会员而言，长期相关的长期利益冲击与养老金计划会籍的预期寿命情况有关; 和（c）计算使用计算设备，并在强调寿命情况下使用预期付款时间表的计算和金融工具的现值，确定为确保未来现金流所需的长寿资本准备金的估计 如果发生强调寿命的情况，金融工具的义务将被涵盖。

公开(公告)号：US20100131425A1

公开(公告)日：2010-05-27

申请号：US12638668

申请日：2009-12-15

申请人： Jonathan Stolerman ,  Timothy Lyons ,  Wayne Chen ,  Fiona Page

发明人： Jonathan Stolerman ,  Timothy Lyons ,  Wayne Chen ,  Fiona Page

IPC分类号： G06Q40/00 ,  G06Q10/00

CPC分类号： G06Q40/06 ,  G06Q10/067 ,  G06Q10/1057 ,  G06Q40/00

摘要： There is provided a computer-implemented method of projecting the future cash flows of a pension scheme, comprising: receiving data representative of the members of the pension scheme; receiving data representative of a mortality assumption; calculating, using data processing apparatus, for each pension scheme member, a projection of the future cash flow liabilities of the pension scheme to that member on the basis of the pension scheme member data and by applying the mortality assumption data to the pension scheme member data; and generating, using data processing apparatus, data representative of a projected liability cash flow of the pension scheme to all of its members by aggregating the liabilities to each member.

摘要翻译： 提供了一种计算机实施的预测养老金计划未来现金流量的方法，包括：接收代表养老金计划成员的数据; 接收代表死亡率假设的数据; 对每个养老金计划成员使用数据处理设备，计算养老金计划的未来现金流量负债，根据养老金计划成员资料向该成员预测，并将死亡假设数据应用于养老金计划成员资料 ; 并使用数据处理装置，将代表养老金计划的预计负债现金流量的数据通过汇总对每个成员的负债来产生给其所有成员。

公开(公告)号：US20090037258A1

公开(公告)日：2009-02-05

申请号：US12212133

申请日：2008-09-17

申请人： Timothy Lyons ,  Jonathan Stolerman ,  Wayne Chen

发明人： Timothy Lyons ,  Jonathan Stolerman ,  Wayne Chen

IPC分类号： G06F17/30 ,  G06Q40/00 ,  G06Q20/00

CPC分类号： G06Q40/06 ,  G06Q30/0283 ,  G06Q40/00

摘要： A method, for use for example in pension scheme defeasance, comprises providing to an entity a financial instrument which undertakes to pay to the entity, at regular points in time within a specified duration, sums according to a schedule of payment amounts associated with the financial instrument, the scheduled payment amounts being arranged to match with the expected cash flow obligations of a pension scheme to its members. At a re-set point in time the schedule of payment amounts is re-set such that the entity will receive an adjusted payment amount calculated to be the aggregate of nominal cash flows to be paid to the pension scheme members adjusted to take into account the actual cumulative mortality experience of the pension scheme prior to the re-set point in time. Calculations for carrying out the method may be made using a data processing system.

摘要翻译： 用于例如养老金计划失败的方法包括向实体提供承诺在指定期限内的正常时间点向实体支付的金融工具，根据与财务相关的支付金额的时间表 工具，预定的付款金额被安排与养老金计划对其成员的预期现金流量义务相一致。 在重新设定的时间点，重新设定支付金额的时间表，使得该实体将收到被调整的支付金额，该调整后的支付金额被计算为要支付给养老金计划成员的名义现金流量的总和，该成员被调整为考虑到 在重新设定时间点之前，养老金计划的实际累积死亡率经验。 可以使用数据处理系统来进行用于执行该方法的计算。

公开(公告)号：US20080281742A1

公开(公告)日：2008-11-13

申请号：US12117306

申请日：2008-05-08

申请人： Timothy Lyons ,  Jonathan Stolerman ,  Wayne Chen

发明人： Timothy Lyons ,  Jonathan Stolerman ,  Wayne Chen

IPC分类号： G06Q40/00

CPC分类号： G06Q40/06 ,  G06Q30/0283 ,  G06Q40/00

摘要： A method, for use for example in pension scheme defeasance, comprises providing to an entity a financial instrument which undertakes to pay to the entity, at regular points in time within a specified duration, sums according to a schedule of payment amounts associated with the financial instrument, the scheduled payment amounts being arranged to match with the expected cash flow obligations of a pension scheme to its members. At a re-set point in time the schedule of payment amounts is re-set such that the entity will receive an adjusted payment amount calculated to be the aggregate of nominal cash flows to be paid to the pension scheme members adjusted to take into account the actual cumulative mortality experience of the pension scheme prior to the re-set point in time. Calculations for carrying out the method may be made using a data processing system.

摘要翻译： 用于例如养老金计划失败的方法包括向实体提供承诺在指定期限内的正常时间点向实体支付的金融工具，根据与财务相关的支付金额的时间表 工具，预定的付款金额被安排与养老金计划对其成员的预期现金流量义务相一致。 在重新设定的时间点，重新设定支付金额的时间表，使得该实体将收到被调整的支付金额，该调整后的支付金额被计算为要支付给养老金计划成员的名义现金流量的总和，该成员被调整为考虑到 在重新设定时间点之前，养老金计划的实际累积死亡率经验。 可以使用数据处理系统来进行用于执行该方法的计算。

公开(公告)号：US08533087B2

公开(公告)日：2013-09-10

申请号：US12612274

申请日：2009-11-04

申请人： Timothy Lyons ,  Jonathan Stolerman ,  Wayne Chen ,  Darren Best

发明人： Timothy Lyons ,  Jonathan Stolerman ,  Wayne Chen ,  Darren Best

IPC分类号： G06Q40/06

CPC分类号： G06Q40/06 ,  G06Q40/04

摘要： There is provided a computer-implemented method of estimating a capital reserve requirement to cover the longevity risk exposure of a financial instrument in the case of a future longevity shock, the financial instrument undertaking to pay to an investor sums according to a payment schedule of amounts arranged to match with the future cash flow obligations of a pension scheme to at least a portion of its members. The method comprises: (a) calculating, using computing apparatus, an expected payment schedule of the financial instrument by calculating what the cash flow obligations of the pension scheme to its relevant members would be in the case of an expected longevity scenario for the pension scheme membership occurring; (b) calculating, using computing apparatus, a present value of the financial instrument in the case of a stressed longevity scenario for the pension scheme membership in which a longevity-related shock to the expected longevity scenario of the pension scheme membership occurs; and (c) calculating, using computing apparatus and using the calculations of the expected payment schedule and a present value of the financial instrument in the case of a stressed longevity scenario, an estimate of the longevity capital reserve required to ensure that the future cash flow obligations of the financial instrument would be covered in the event that the stressed longevity scenario were to occur.

摘要翻译： 提供了一种计算机实施的方法，用于在未来长寿震惊的情况下估算资本公积金要求以涵盖金融工具的长寿风险敞口，承诺根据付款时间表向投资者支付金额的金额 安排将养老金计划的未来现金流义务与其至少一部分成员相匹配。 该方法包括：（a）使用计算设备计算金融工具的预期支付时间表，计算养老金计划对其相关成员的现金流量义务对于养老金计划的预期寿命情况而言是什么 会籍发生; （b）计算使用计算设备的金融工具的现值，就养老金计划会员而言，长期相关的长期利益冲击与养老金计划会籍的预期寿命情况有关; 和（c）计算使用计算设备，并在强调寿命情况下使用预期付款时间表的计算和金融工具的现值，确定为确保未来现金流所需的长寿资本准备金的估计 如果发生强调寿命的情况，金融工具的义务将被涵盖。

公开(公告)号：US20130117047A1

公开(公告)日：2013-05-09

申请号：US13292287

申请日：2011-11-09

申请人： Timothy Lyons ,  Jonathan Stolerman

发明人： Timothy Lyons ,  Jonathan Stolerman

IPC分类号： G06Q40/08

CPC分类号： G06Q40/08

摘要： A method of transferring risk from a pension scheme, comprising: a sponsoring entity acquiring a captive entity established to provide infrastructure to insure at least a portion of the pension scheme's liabilities; the sponsoring entity providing an amount of risk capital to the captive entity and an amount of capital to the pension scheme; the captive entity writing one or more contracts in favor of a counterparty to make payments dependent on the insured liabilities to the pension scheme members; calculating the insured liabilities to the pension scheme members; and causing an electronic payment of an amount dependent on the calculated insured liabilities to be executed to the counterparty. The captive entity may be demerged from the sponsoring entity by the sponsoring entity divesting at least a portion of the captive entity.

摘要翻译： 一种从养老金计划中转移风险的方法，包括：获得被设立以提供基础设施以确保养老金计划负债的至少一部分的专属实体的保荐实体; 担保实体为养殖企业提供一定数量的风险资本，并向养老金计划提供资金; 编写一份或多份合同的交易实体支持交易对手根据养老金计划成员的被保险负债付款; 计算养老金计划成员的保险负债; 并根据所计算的被保险负债进行电子支付金额执行给交易对手。 被托管实体可以由担保实体从赞助实体中分拆出去，剥夺至少一部分被捕实体。

公开(公告)号：US20100121784A1

公开(公告)日：2010-05-13

申请号：US12612291

申请日：2009-11-04

申请人： Timothy Lyons ,  Jonathan Stolerman ,  Wayne Chen ,  Darren Best

发明人： Timothy Lyons ,  Jonathan Stolerman ,  Wayne Chen ,  Darren Best

IPC分类号： G06Q40/00

CPC分类号： G06Q40/06

摘要： The invention provides a computer implemented method of establishing a longevity financial instrument, the method comprising: establishing, using computing apparatus, a set of parameters determining payment amounts to be made according to a payment schedule for the financial instrument such that the payment amounts relate to the future liabilities of a pension scheme to at least a portion of its members. The parameters may determine the payment amounts to match the a calculation of the future liabilities of the pension scheme to at least a portion of its members, taking into account the actual cumulative mortality experience of the pension scheme membership. The various embodiments of the method provide a number of longevity financial instruments that have different payment schedules that are advantageously arranged to match different risk profiles and can be used to satisfy pension scheme sponsors having different risk appetites. The invention also provides methods of issuing longevity financial instruments established thus, and providing such longevity financial instruments to investors. The invention also provides financial instruments thus established and issued.

摘要翻译： 本发明提供一种建立长寿金融工具的计算机实现方法，所述方法包括：使用计算装置建立一组根据金融工具的支付时间表确定支付金额的参数，使得支付金额与 养老金计划对其至少一部分成员的未来负债。 考虑到养老金计划成员的实际累积死亡率经验，这些参数可以确定支付金额，以将养老金计划的未来负债的计算与至少一部分成员进行计算。 该方法的各种实施例提供了许多长寿金融工具，其具有不同的支付计划，其有利地被布置为匹配不同的风险简档，并且可以用于满足具有不同风险偏好的养老金计划赞助者。 本发明还提供了发行长期金融工具，为投资者提供长寿金融工具的方法。 本发明还提供了建立和发行的金融工具。