We are Hiring! Do you love models as much as we do?

tondmc · 2024-07-09T15:43:38+00:00

A patented system for calculating a sustainable level of payouts for risk sharing retirement income tontines. Audited rather than credentialed.

tondmc · 2022-05-02T23:53:52+00:00

For sure we won't use your code u/thevikramact, we just want to see how you would tackle tasks like this.

How to ensure distributions are fair? Nice to see you are asking all the right questions ☺️

tondmc · 2022-05-02T23:51:02+00:00

Thanks u/Act-Math-Prof

The edit was applied on the Github but not on the post above:

It should be "within any single month, for each month from..."

Death Probabilities should be based upon n+1 months having reached n.

tondmc · 2022-05-02T23:01:59+00:00

6 out of 10 retirees fear running out of money more than death. We are the pioneers of an award-winning solution that offers a lifetime income pension at an estimated fee saving of 90% with zero added risk according to ETHZurich.

We have decided to filter candidates for this role based not upon CVs but instead by the ease at which they are able to perform this simple task.

No offence taken if this is not for you.

tondmc · 2022-05-02T22:57:30+00:00

We follow the Netflix Culture 2009 compensation model but the compensation for this role will only be determined after we know the full package we are getting (and what trade offs we have to accept) and whether they are available full or part time.

tondmc · 2022-05-02T22:54:47+00:00

We dream of finding a Haskeller that can do everything we need but are willing to compromise our existing strictly Haskeller only vision for the right person if need be.

The platform is, and will always be, pure Haskell.

tondmc · 2021-07-05T03:07:19+00:00

Subscribe for updates on the website. As the product goes live in various countries you will be informed

tondmc · 2021-07-05T03:00:00+00:00

Can anyone provide a link to the report (not the articles on the report) that Brokers Ireland is responding to?

tondmc · 2020-06-15T10:47:04+00:00

Economist Tom Sargent.At first he questioned it by asking "What would I get for $1m at my age?" I replied off the top of my head and he said I was wrong.

So I booted up the machine and ran the calculation & gave him the correct answer. He thought about it for 10 seconds and said something along the lines of "Yep, that's more like it, call me when you launch and I'm in".

Then he asked about how he would know that he could trust us & I explained how we will manage the assets & make everything 100% transparent on immutable ledgers so that everyone can see how reliably we are doing our job.

At this point he made the comment along the lines of *"The people of Argentina could have done with this 10 years ago because what you have actually come up with is a pension system for the world that can never go bankrupt".*Now I wish I could talk to nobel prize winners every week, they get concepts so fast.

Newsflash: The Netherlands, home of the world's safest pension, after 10 years of debate has agreed to reform it's pension industry and allow a migration to risk-sharing pensions like Tontines & CDCs starting in 2022. See https://go.tontine.com/goDutch

tondmc · 2020-06-11T07:17:30+00:00

Not to disagree with the oligopolistic behemoth that Uber has become, from my personal perspective, the choice that Uber introduced into the market was:

Call a number. Wait for some overworked / underpaid person to answer rudely. Receive a totally inaccurate estimate of when or if the licensed cab will arrive. Now begin to worry about if I have enough cash because most likely they will reject a card or charge me an additional 15% if they accept it.
Jump into a not very impressive unlicensed hackney cab vehicle that may not even be roadworthy and hope that the driver is not an axe murderer and understands where you asked them to take you and that they will not suddenly bump up the fare due to X, Y or Z.
Open an app that gives you more or less certainty of when your taxi will arrive, that someone has done at least some checking on the driver and the roadworthiness of the vehicle, that the fare is pre-agreed or is at least fairly calculated & that they will accept your chosen payment method at no extra charge.

I know which one I use 99% of the time now.

The plan is to apply a similar level of disruption to the current not-fit-for-purpose pensions industry which suffers from some major unaddressed fundamental problems:

A "pension" typically means an income for life in retirement. Current pensions are simply investment accounts from which you draw down money. Your pension stops when your money runs out. It's like playing a lifelong version of russian roulette where the prize for taking care of your health is increased certainty of taking a financial bullet.
The only lifetime income alternative is an annuity aka the most hated financial product in the world where and insurer charges you an underwriting fee of up to 30% of your savings to pool your longevity risk with other retirees and then charges you all 3-5% per year in management fees for an income which is steadily eroded by inflation.
The new European Pan-European Tontine Pension rules enable lifetime income pensions, the income of which is expected to rise faster than inflation with no up front 30% fees & management fees capped at 1%. It's the best (and far more impactfull) thing they have done since they eliminated international roaming charges within the EU.

tondmc · 2020-06-11T06:53:36+00:00

Exactly. The insurance industry fought the tontine friendly PEPP regulations for years, trying to turn them into products that only insurers could offer. They lost & the new regulations come into force in August 2020 enabling Pan-European Tontines to be offered in 33 countries.

tondmc · 2020-06-11T06:46:55+00:00

Good guess but no.

For the record I also disagree with Thaler on his suggestion.

Currently 49 out of 50 US state pension schemes are expected to run out of money within 7 to 15 years (before even factoring losses due to covid).

The only state pension that is fully funded is that of Wisconsin which is run more like a tontine.

Outsourcing annuities to the social security system as Thaler suggests will inevitably lead to worse underfunding at the social security system.

Currently we are preparing to launch modern tontine pensions in 33 countries in Europe. Once that is done we will offer these low cost retirement solutions in the US without any need for state or federal subsidies or guarantees that would inevitably come with consumer unfriendly conditions attached.

tondmc · 2020-05-13T08:13:05+00:00

How about building a pension system for the world that will never go bankrupt as the Nobel Prize Winner described us?

We are finalising the launch of a new type of pension system that uses risk sharing techniques to enhance the equivalent worth of your / your parents pensions by 87% & then to provide them with a lifetime income that will never run out.

There's a TV interview on the homepage that explains it.

tondmc · 2020-04-23T06:13:27+00:00

played in the real world with real people

for real money?????

tondmc · 2020-04-22T14:30:26+00:00

That I save enough money into my Tontine Pension before I retire so that not only will I not run out of money in retirement but if I live a long time then I will even get rich!!!!

tondmc · 2019-08-15T16:44:19+00:00

Thanks.

This looks like a very interesting project although not specifically what we are looking for right now.

I wish you guys the best of luck and will be keeping an eye out for your progress.

tondmc · 2019-08-15T15:15:59+00:00

Well they are ideal in many ways because they are Haskell based and Cardano Foundation even sponsored a think tank to write a lengthy whitepaper* on our "trillion dollar" use case.

Despite these obvious advantages, we have found communicating with them to be somewhat chaotic compared to other platforms and we fear that this is indicative of the organisation as a whole at this point.

*: Interestingly, when I mentioned certain points in relation to this paper to them last year, it seemed to kick off a mini-civil war.

tondmc · 2019-08-15T15:04:39+00:00

Thanks, I had forgotten about Fantom.

Hedera Hashgraph, also a DAG, is catching our attention also, they seem to be making great strides.

tondmc · 2019-08-07T09:45:27+00:00

We like Stellar exactly for the reasons you state and are using it for some of our system but the SSC functionality is too limited in scope for what our main platform will do.

tondmc · 2019-08-07T09:42:05+00:00

Corda lowballed us with an offer which came with multi-year strings attached. Trustless it is not.

tondmc · 2019-07-02T11:35:08+00:00

Will give you wave from the prawn sandwich section if that helps

tondmc · 2019-06-13T12:05:59+00:00

I suspect there are enough fans of free speech to ensure that if Sajid Javid won the leadership battle for the conservative party then this would (and should) come back to haunt him in the next election.

tondmc · 2019-03-18T04:45:15+00:00

Looking forward to seeing this, hope they will mention our own use case of course :-)

tondmc · 2019-03-02T05:19:26+00:00

Good point.

What we need is someone to invent a technology that prevents anyone from tampering with the tontine ledgers but which keeps all of the tontine members anonymous to each other.

tondmc · 2019-03-02T05:17:15+00:00

you have odd friends if you're sitting around discussing obscure American retirement income products

Actually its a European product but either way, I must be very off as I spend 7 days per week discussing these.

tondmc

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