Over the past 20 years, asset-backed pension pillars have become central to global retirement systems, with $56 trillion now invested—about half of global GDP. In 2024, the OECD issued a recommendation to improve these pensions, focusing on better retirement outcomes. Decumulation is gaining attention due to two trends: aging populations are straining social security, leading to reforms like higher retirement ages, and there’s a global shift from defined benefit to defined contribution systems. As a result, retirees now face more individual responsibility and need tailored solutions that consider differences in careers, coverage, and life expectancy.

In this context, Belfius—one of Belgium’s leading bank-insurers—will launch a research Chair at ULB in 2025–2026, led by Professor Jennifer Alonso Garcia. The goal is to develop optimal decumulation strategies using advanced behavioural finance models.

Requirements

  • Master’s degree in actuarial sciences, mathematics, statistics, data science or similar.
  • Solid knowledge of stochastic modelling and operational research.
  • Interest in interdisciplinary research combining actuarial science, behavioural finance, and finance.
  • Fluency in English; knowledge of French is an asset but not mandatory.

Interested?

Candidates are encouraged to submit the following documents: letter of motivation, CV, transcripts to Jennifer.alonso.garcia@ulb.be by June 22nd 2025. The subject of the email should be “PhD Position – Belfius Chair – FAMILY NAME Given Name”.

We offer:

  • A net salary of around 2500 Euro per month.
  • Joining the team of the #1 best master in insurance and actuarial sciences according to EdUniversal.
  • Conference and research visit travel funding.