%0 Journal Article
%T A Constrained Investment Policy for Defined -- Contribution Pension Fund Management
%A Godswill U. Achi
%A Okafor J. U.
%J Journal of Mathematics Research
%D 2013
%I 
%R 10.5539/jmr.v5n2p6
%X This paper considered a stochastic control problem for the optimal management of a contribution pension fund model with solvency constraints. It is also strategic to accept the attitude of the fund manager who can invest in two assets: (a risky one and a non risky one in a standard Black Scholes market) and maximize the utility function consequent upon the current level of fund wealth. Our aim in this paper is to pose a constraint on the fund manager by ensuring that a solvency level is maintained on the fund wealth. This implies that the wealth of the running pension fund remains above a stipulated level i.e. the solvency level.
%U http://www.ccsenet.org/journal/index.php/jmr/article/view/25586