<?xml version="1.0" encoding="ISO-8859-1"?><article xmlns:mml="http://www.w3.org/1998/Math/MathML" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance">
<front>
<journal-meta>
<journal-id>1665-5346</journal-id>
<journal-title><![CDATA[Revista mexicana de economía y finanzas]]></journal-title>
<abbrev-journal-title><![CDATA[Rev. mex. econ. finanz]]></abbrev-journal-title>
<issn>1665-5346</issn>
<publisher>
<publisher-name><![CDATA[Instituto Mexicano de Ejecutivos de Finanzas A.C.]]></publisher-name>
</publisher>
</journal-meta>
<article-meta>
<article-id>S1665-53462019000400671</article-id>
<article-id pub-id-type="doi">10.21919/remef.v14i4.383</article-id>
<title-group>
<article-title xml:lang="en"><![CDATA[Comparison of the costs of the defined-benefit and the defined-contribution schemes under an actuarial methodology]]></article-title>
<article-title xml:lang="es"><![CDATA[Comparación de los costos de los sistemas de beneficio definido y de contribución definida bajo una metodología actuarial]]></article-title>
</title-group>
<contrib-group>
<contrib contrib-type="author">
<name>
<surname><![CDATA[Aguirre-Farías]]></surname>
<given-names><![CDATA[Francisco Miguel]]></given-names>
</name>
<xref ref-type="aff" rid="Aff"/>
</contrib>
<contrib contrib-type="author">
<name>
<surname><![CDATA[Aguirre-Villarreal]]></surname>
<given-names><![CDATA[Francisco Miguel]]></given-names>
</name>
<xref ref-type="aff" rid="Aff"/>
</contrib>
<contrib contrib-type="author">
<name>
<surname><![CDATA[López-Barrientos]]></surname>
<given-names><![CDATA[José Daniel]]></given-names>
</name>
<xref ref-type="aff" rid="Aff"/>
</contrib>
</contrib-group>
<aff id="Af1">
<institution><![CDATA[,Valuaciones Actuariales del Norte  ]]></institution>
<addr-line><![CDATA[ ]]></addr-line>
<country>México</country>
</aff>
<aff id="Af2">
<institution><![CDATA[,Universidad Anáhuac  ]]></institution>
<addr-line><![CDATA[ ]]></addr-line>
<country>Mexico</country>
</aff>
<pub-date pub-type="pub">
<day>00</day>
<month>12</month>
<year>2019</year>
</pub-date>
<pub-date pub-type="epub">
<day>00</day>
<month>12</month>
<year>2019</year>
</pub-date>
<volume>14</volume>
<numero>4</numero>
<fpage>671</fpage>
<lpage>691</lpage>
<copyright-statement/>
<copyright-year/>
<self-uri xlink:href="http://www.scielo.org.mx/scielo.php?script=sci_arttext&amp;pid=S1665-53462019000400671&amp;lng=en&amp;nrm=iso"></self-uri><self-uri xlink:href="http://www.scielo.org.mx/scielo.php?script=sci_abstract&amp;pid=S1665-53462019000400671&amp;lng=en&amp;nrm=iso"></self-uri><self-uri xlink:href="http://www.scielo.org.mx/scielo.php?script=sci_pdf&amp;pid=S1665-53462019000400671&amp;lng=en&amp;nrm=iso"></self-uri><abstract abstract-type="short" xml:lang="en"><p><![CDATA[Abstract The goal of this work is to use basic tools of actuarial analysis to prove for the first time that the cost of financing pure defined-benefit scheme is equal to that of a pure defined-contribution scheme whenever these plans grant equal benefits interms of the amount and conditions to obtain them, and it is calculated using the same financial and biometric hypothesis. We state our results in terms of an individual computation and of a group model (for in the second case, the defined-benefit scheme requires the calculation of a general average premium); and in both scenarios, we study the possibility of an early retirement with full and partial portability. Our overall recommendation is to drop the discussion on which scheme is more expensive. The main limitation of this research is also its greatest asset: we have proven that there is no dominance of either plan over the other when there are no other labor market distortions; which means that the discussion could be in order should we consider the presence of such disruptions.]]></p></abstract>
<abstract abstract-type="short" xml:lang="es"><p><![CDATA[Resumen El objetivo de este trabajo es utilizar herramientas básicas de análisis actuarial para demostrar por primera vez que el costo del financiamiento del esquema de beneficio-definido es igual al de un esquema de contribución-definida siempre que estos planes otorguen beneficios iguales en términos de cantidad y condiciones para obtenerlos, y llevamos a cabo nuestros cálculos usando las mismas hipótesis financieras y biométricas. Enunciamos nuestros resultados en términos de un cálculo individual y de un modelo grupal (en el segundo caso, el esquema de beneficio definido requiere del cómputo de una prima media general); y en ambos escenarios, estudiamos la posibilidad de la jubilación anticipada con portabilidad total y parcial. Nuestra recomendación general es abandonar el debate sobre qué esquema es más caro. La principal limitante de nuestra investigación es también su mayor fortaleza: hemos demostrado que no hay predominio de ninguno de los planes sobre el otro cuando no hay otras distorsiones del mercado laboral; lo que significa que la discusión podría continuar vigente si consideramos la presencia de tales factores.]]></p></abstract>
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</article-meta>
</front><back>
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