Temocin, B.Z.B.Z.TemocinKorn, R.R.KornSelcuk-Kestel, A.S.A.S.Selcuk-Kestel2022-03-052022-03-052018https://publica.fraunhofer.de/handle/publica/25155010.1007/s10479-017-2449-8We consider the optimal portfolio problem with minimum guarantee protection in a defined contribution pension scheme. We compare various versions of guarantee concepts in a labor income coupled CPPI-framework with random future labor income. Besides classical deterministic guarantees we also introduce path-dependent guarantees. To ensure that there is no bias in the comparison, we obtain the optimal CPPI-multiplier for each guarantee framework via using a classical stochastic control approach.enoptimal portfolioCPPIportfolio insurancedefined contribution pension plan300journal article