The optimal investment strategy for defined-contribution occupational pension scheme
缴费确定型企业年金最优投资策略研究

This paper applies the theory of stochastic optimal control to deal with the optimal investment strategy problem for defined-contribution occupational pension scheme,sets up the optimal investment models under the minimum payment loss of the occupational pension funds in the deterministic and stochastic contribution cases respectively,solves the HJB equations to obtain the explicit form solutions of the optimal investment decision and payment polices,and then uses Monte Carlo simulation for the optimal strategy in the deterministic contribution case.