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Papers by herbert mukalazi

Research paper thumbnail of Parametrized multiplicative integral inequalities

Advances in continuous and discrete models, Apr 30, 2024

Research paper thumbnail of Analyzing the dynamic patterns of COVID-19 through nonstandard finite difference scheme

Scientific reports, Apr 11, 2024

Research paper thumbnail of Exploring local and global stability of COVID-19 through numerical schemes

Scientific reports, Apr 4, 2024

Research paper thumbnail of Asset liability management for the Bank of Uganda defined benefits scheme by stochastic programming

Operations Research and Decisions, 2022

We develop a model for asset liability management of pension funds, which is solved by stochastic... more We develop a model for asset liability management of pension funds, which is solved by stochastic programming techniques. Using data provided by the Bank of Uganda Defined Benefits Scheme, which is closed to new members, we obtain the optimal investment policies. Randomly sampled scenario trees using the mean and covariance structure of the return distribution are used for generating the coefficients of the stochastic program. Liabilities are modelled by remaining years of life expectancy and guaranteed period for monthly pension. We obtain the funding situation of the scheme at each stage, and the terminal cash injection by the sponsor required to meet all future benefit payments, in absence of contributing members.

Research paper thumbnail of Long term projection of the demographic and financial evolution of the parliamentary pension scheme of Uganda

Operations Research and Decisions, 2022

We study the Parliamentary Pension Scheme of Uganda, a hybrid cash balance scheme which is contri... more We study the Parliamentary Pension Scheme of Uganda, a hybrid cash balance scheme which is contributory. It has two categories of members, the staff of the Parliamentary Commission and the Members of Parliament. A long term projection of the scheme's demographic and financial evolution is done to asses its sustainability and fairness with respect to the two categories of members. The projection of the scheme's future members is done using non-linear regression. The distribution of future members by age states is done by Markov model using frequencies of state transition of the scheme members. We project the future contributions, accumulated funds, benefits, asset and liability values together with associated funding ratios. The results show that the fund is neither sustainable nor fair with respect to the two categories of members.

Research paper thumbnail of Asset liability management for the Bank of Uganda defined benefits scheme by stochastic programming

Operations Research and Decisions

We develop a model for asset liability management of pension funds, which is solved by stochastic... more We develop a model for asset liability management of pension funds, which is solved by stochastic programming techniques. Using data provided by the Bank of Uganda Defined Benefits Scheme, which is closed to new members, we obtain the optimal investment policies. Randomly sampled scenario trees using the mean and covariance structure of the return distribution are used for generating the coefficients of the stochastic program. Liabilities are modelled by remaining years of life expectancy and guaranteed period for monthly pension. We obtain the funding situation of the scheme at each stage, and the terminal cash injection by the sponsor required to meet all future benefit payments, in absence of contributing members.

Research paper thumbnail of Asset Liability Management for the Parliamentary Pension Scheme of Uganda by Stochastic Programming

Afrika Statistika, 2021

We develop a model for asset liability management of pension funds, which is solved by stochastic... more We develop a model for asset liability management of pension funds, which is solved by stochastic programming techniques. Using data provided by the Parliamentary Pension Scheme of Uganda, we obtain the optimal investment policies. Randomly sampled scenario trees using the mean, and covariance structure of the return distribution are used for generating the coefficients of the stochastic program. Liabilities are modelled by remaining years of life expectancy and guaranteed period for monthly pension. We obtain the funding situation of the scheme at each stage under three different asset investment limits.

Research paper thumbnail of Parametrized multiplicative integral inequalities

Advances in continuous and discrete models, Apr 30, 2024

Research paper thumbnail of Analyzing the dynamic patterns of COVID-19 through nonstandard finite difference scheme

Scientific reports, Apr 11, 2024

Research paper thumbnail of Exploring local and global stability of COVID-19 through numerical schemes

Scientific reports, Apr 4, 2024

Research paper thumbnail of Asset liability management for the Bank of Uganda defined benefits scheme by stochastic programming

Operations Research and Decisions, 2022

We develop a model for asset liability management of pension funds, which is solved by stochastic... more We develop a model for asset liability management of pension funds, which is solved by stochastic programming techniques. Using data provided by the Bank of Uganda Defined Benefits Scheme, which is closed to new members, we obtain the optimal investment policies. Randomly sampled scenario trees using the mean and covariance structure of the return distribution are used for generating the coefficients of the stochastic program. Liabilities are modelled by remaining years of life expectancy and guaranteed period for monthly pension. We obtain the funding situation of the scheme at each stage, and the terminal cash injection by the sponsor required to meet all future benefit payments, in absence of contributing members.

Research paper thumbnail of Long term projection of the demographic and financial evolution of the parliamentary pension scheme of Uganda

Operations Research and Decisions, 2022

We study the Parliamentary Pension Scheme of Uganda, a hybrid cash balance scheme which is contri... more We study the Parliamentary Pension Scheme of Uganda, a hybrid cash balance scheme which is contributory. It has two categories of members, the staff of the Parliamentary Commission and the Members of Parliament. A long term projection of the scheme's demographic and financial evolution is done to asses its sustainability and fairness with respect to the two categories of members. The projection of the scheme's future members is done using non-linear regression. The distribution of future members by age states is done by Markov model using frequencies of state transition of the scheme members. We project the future contributions, accumulated funds, benefits, asset and liability values together with associated funding ratios. The results show that the fund is neither sustainable nor fair with respect to the two categories of members.

Research paper thumbnail of Asset liability management for the Bank of Uganda defined benefits scheme by stochastic programming

Operations Research and Decisions

We develop a model for asset liability management of pension funds, which is solved by stochastic... more We develop a model for asset liability management of pension funds, which is solved by stochastic programming techniques. Using data provided by the Bank of Uganda Defined Benefits Scheme, which is closed to new members, we obtain the optimal investment policies. Randomly sampled scenario trees using the mean and covariance structure of the return distribution are used for generating the coefficients of the stochastic program. Liabilities are modelled by remaining years of life expectancy and guaranteed period for monthly pension. We obtain the funding situation of the scheme at each stage, and the terminal cash injection by the sponsor required to meet all future benefit payments, in absence of contributing members.

Research paper thumbnail of Asset Liability Management for the Parliamentary Pension Scheme of Uganda by Stochastic Programming

Afrika Statistika, 2021

We develop a model for asset liability management of pension funds, which is solved by stochastic... more We develop a model for asset liability management of pension funds, which is solved by stochastic programming techniques. Using data provided by the Parliamentary Pension Scheme of Uganda, we obtain the optimal investment policies. Randomly sampled scenario trees using the mean, and covariance structure of the return distribution are used for generating the coefficients of the stochastic program. Liabilities are modelled by remaining years of life expectancy and guaranteed period for monthly pension. We obtain the funding situation of the scheme at each stage under three different asset investment limits.