This work deals with an optimal benefit distribution and asset allocation problem for a defined contribution (DC) pension plan during its decumulation phase. With the phenomenon of longevity, the time horizon of pension management during this phase might be long, thus the influence of inflation is considered in the context. The inflation index is subjected to a Poisson jump and a Brownian uncertainty. Motivated by the work of Wang et al. (2018), it is assumed that the scheme provides cost of living adjustment, which is extended to a jump diffusion process in this work. The plan aims to reduce fluctuations of benefit and terminal wealth by investing the fund in a financial market consisting of a bank account, an inflation indexed bond and a stock. The dynamics of two risky assets are also given by jump diffusion processes. The closed form decisions are derived by using the dynamic programming approach.

这项工作处理了固定缴款 (DC) 养老金计划在其递减阶段的最优福利分配和资产分配问题。由于长寿现象，这一阶段养老金管理的时间跨度可能较长，因此在此背景下考虑了通货膨胀的影响。通货膨胀指数受到泊松跳跃和布朗不确定性的影响。受到王等人的工作的启发。（2018），假设该方案提供生活成本调整，在这项工作中扩展到跳跃扩散过程。该计划旨在通过将基金投资于由银行账户、通胀指数债券和股票组成的金融市场，从而减少福利和终端财富的波动。两种风险资产的动态也由跳跃扩散过程给出。