O INSPER E ESTE REPOSITÓRIO NÃO DETÊM OS DIREITOS DE USO E REPRODUÇÃO DOS CONTEÚDOS AQUI REGISTRADOS. É RESPONSABILIDADE DO USUÁRIO VERIFICAR OS USOS PERMITIDOS NA FONTE ORIGINAL, RESPEITANDO-SE OS DIREITOS DE AUTOR OU EDITORVaz, Thalita A.Machado, Sergio JurandyrADRIANA BRUSCATO BORTOLUZZO2023-07-192023-07-192011https://repositorio.insper.edu.br/handle/11224/5863Because pension plans have been marketed with outdated technical premises, Brazilian insurance companies find themselves required to identify additional resources to ensure their ability to meet future benefit payments obligations. When calculating the additional amount of this provision, the parameters used are: mortality and disability decrements, the structure of interest rates, financial performance, cancellation fees and conversion rates. The aim of this study is to present new techniques for the estimation of conversion rates. The resulting analysis of the data allows us to conclude that two factors—the volume of accumulated reserves and the classification of prices as actuarially fair—increase the propensity of an individual to convert resources in retirement. In turn, retirement age and the need for liquidity reduce the propensity to convert resources in retirement.16 p.DigitalInglêsworking paperRetirementAnnuityProvision for Insufficient ContributionsBEWP 139/2011