fpCF: First Pillar Cash Flows
In sstoeckl/pensionfinanceLi: Optimal Pension Decisions in Liechtenstein

Description Usage Arguments Value Examples

Cash Flows are generated for the payment phase of the first pillar, starting in retirement (ret_age) until 122 because that is when all our fictitious persons have died. We use "Russian" inflation adjustment for starting pension: average income is computed mixing nominal past and real future income, brackets in pension table are not adjusted ==> running pension in real terms decreases by half the inflation rate

1	fpCF(ret_age = 65, c_age, li, lg, s1, ret, warnings = TRUE)

`ret_age`	optional, retirement age, can be set anywhere between 60 and 70 (default: 65)
`c_age`	the investor's current age (assuming birthday is calculation-day)
`li`	gross labor income at time 0 (so at the end of year t=0/age=c_age it increases to li*(1+lg))
`lg`	labor growth rate (in real terms, constant)
`s1`	vector consisting of two components: c(number of contribution years at age=c_age,historical average yearly income until c_age)
`ret`	investment return scenarios (nominal)
`warnings`	optional: should warnings be given? (default=TRUE)

Named matrix of cashflows as of pension starting age (ret_age) until age=122 (dim=c(122-retage,# return scenarios))

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data(ret)
fp_ex <- fpCF(ret_age=65,c_age=42,li=100000,lg=0.01,s1=c(15,80000),ret=ret[,,1:10])
fp_ex2 <- fpCF(ret_age=65,c_age=42,li=0,lg=0.01,s1=c(0,0),ret=ret[,,1:10])