Research areas

Actuarial studies; Statistics.

Qualifications

BCom, MHE, PhD, SFHEA, FIAA

Biography

Adam Butt is an Associate Professor of Actuarial Studies and Statistics and the Head of Actuarial Studies.  Adam’s research interests focus on superannuation and personal financial decision making, and actuarial education.  He has received a number of grants for his projects, including: CSIRO Data 61 funding to investigate superannuation and retirement living standards; and Centre for International Finance and Regulation grants to examine default superannuation arrangements. Adam’s research has been published in a number of top-ranked actuarial and other journals including Insurance: Mathematics and Economics, Annals of Actuarial Science, The Economic Record, and Journal of Economic Behaviour & Organisation.

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Grants

Superannuation Lifecycle Modelling from a Household Perspective, Commonwealth Scientific and Industrial Research Organisation, Data61 Collaborative Research Project, 2020-22. (joint with Gaurav Khemka)

Developing Coherent and Usable Decision Support Systems to Improve Financial Wellbeing over an Individual’s Lifecycle.  Centre for International Finance and Regulation Research Grant, 2014/15. (joint with Anthony Asher, Ujwal Kayande and Garry Khemka) 

Graduate Views on Their Actuarial Education in Australia, 2014/15, Actuaries Institute Research Grant. (joint with Jim Farmer and David Pitt) 

Structure and Responsibilities in Default Superannuation Funds: Influences and Effectiveness.  Centre for International Finance and Regulation Research Grant, 2013/15. (joint with Geoff Warren, Scott Donald, Doug Foster and Susan Thorp) 

Does the Financial Market Fully Price Unfunded Pension Liabilities in Australia: Evidence from Corporate Defined-benefit Superannuation.  AFAANZ Research Fund Grant 2011/12. (joint with Yin Liao)

Publications

Frees, E.W., Butt, A. and Shi, P., 2025, Algorithmic Insurable Risk Portfolios, North American Actuarial Journal, forthcoming.

Butt, A., Khemka, G., Lim, W., Warren, G. and Wu, S., 2025, Investment Option Switching Behaviour and Impact for Pension Fund Members around the COVID pandemic, Australian Journal of Management, forthcoming.

Khemka, G., Butt, A. and Mehry, S., 2024, A building block approach to retirement income design, Journal of Pension Economics & Finance, 23, 528-548.

Ai, W., Butt, A. and Khemka, G., 2024, Interaction between Age Pension means testing and innovative income streams in Australia, Economic Record, 100(331), 533-567.

Li, J., Liu, J. and Butt, A., 2024, A systematic vector autoregressive framework for modelling and forecasting mortality, Journal of Forecasting, 43(6), 2279-2297.

Butt, A., Khemka, G., Lim, W. and Warren, G., 2023, Primer on Retirement Income Strategy Design and Evaluation, prepared for the Society of Actuaries.

Butt, A., Khemka, G. and Warren G., 2022, Heterogeneity in optimal investment and drawdown strategies in retirement, Pacific-Basin Finance Journal, 74, 101798.

Butt, A., Khemka, G. and Warren, G., 2019, What Dividend Imputation Means for Retirement Savers. The Economic Record, 95(309), 181-199.

Butt, A., 2018, Quantification of factors influencing student perceptions of group work. Journal of University Teaching & Learning Practice, 15(5).

Butt, A., Khemka G. and Strickland L., 2018, How academic research can inform default superannuation fund design and individual financial decision-making. The Australasian Journal of Applied Finance, 1, 41-49.

Butt, A., Donald, M.S., Foster, F.D., Thorp, S. and Warren, G., 2018, One size fits all?  Tailoring retirement plan defaults.  Journal of Economic Behaviour & Organisation, 145, 546-566.

Khemka, G. and Butt A., 2017, Non-parametric integral estimation using data clustering in stochastic dynamic programming: an introduction using lifetime financial modelling.  Risks, 5(4), 57.

Butt, A., Donald, M.S., Foster, F.D., Thorp, S. and Warren, G., 2017, Design of MySuper Default Funds: Influences and Outcomes.  Accounting and Finance, 57(1), 47-85.

Butt, A., Farmer, J., Pitt, D. and Salmona, M., 2016, A survey of actuarial graduates’ views on their education.  Australian Journal of Actuarial Practice, 4, 35-49.

Butt, A., Donald, M.S., Foster, F.D., Thorp, S. and Warren, G., 2015, Design of MySuper Default Funds: Influences and Outcomes.  Accounting and Finance, forthcoming.

Butt, A., Donald, M.S., Foster, F.D., Thorp, S. and Warren, G., 2015, The Australian superannuation system post Stronger Super: views from fund executives.  Law and Financial Markets Review, 2015, 9(2), 96-102. 

Butt, A. and Khemka, G., 2015, The effect of objective formulation on retirement decision making.  Insurance: Mathematics & Economics, 64, 385-395.

Huang, F., Butt, A. and Ho, K-Y., 2014, Stochastic economic models for actuarial use: an example from China.  Annals of Actuarial Science, 8(2), 374-403.

Butt, A., Evans, J., Pitt, D. and Farmer, J., 2014, A pilot survey of actuarial graduates’ views on their education.  Australian Journal of Actuarial Practice, 1, 63-75.

Butt, A., 2014, Student views on the use of a flipped classroom approach: Evidence from Australia.  Business Education & Accreditation, 6(1), 33-43.

Butt, A., 2013, Effects of Scheme Default Insurance on Decisions and Financial Outcomes in Defined Benefit Pension Schemes.  Annals of Actuarial Science, 7(2), 288-305.

Butt, A., 2012, Causes of Defined Benefit Pension Scheme Funding Ratio Volatility and Average Contribution Rates.  Annals of Actuarial Science, 6(1), 76-102.

Butt, A. and Deng, Z., 2012, Investment Strategies in Retirement: in the presence of a means-tested government pension.  Journal of Pension Economics and Finance, 11(2), 151-181. 

Butt, A., 2011, Management of Closed Defined Benefit Superannuation Schemes – An Investigation using Simulations.  Australian Actuarial Journal, 17(1), 25-87.

Butt, A., 2008, Effect of AASB 119 ‘Employee Benefits’ on Defined Benefit Superannuation Costs Recognised by Sponsoring Employers.  Australian Actuarial Journal, 14(1), 97- 170.

Research engagement

Current Service Roles at ANU

Head of Actuarial Studies

RSFAS Executive member

Nominated Accreditation Actuary

Previous Service Roles at ANU

Convener of the Bachelor of Actuarial Studies

Convenor of the Bachelor of Social Sciences (Honors in Actuarial Studies and Economics)

Deputy Director (Education) RSFAS

College of Business and Economics Education Committee member

Coordinator of the Actuarial Employment Seminar

College of Business and Economics Teaching Awards Selection Panel

College of Business and Economics Year in Industry program working group

Current Service Roles with the Actuaries Institute

Education Strategy Committee

Working Group on structure of the Foundation Program

Past Service Roles with the Actuaries Institute

Working Group on development of new accreditation policy

Writer of Course 6A and 6B

Marker and scrutineer of assignments and examination papers for Part III Courses 1, 4A, 4B, 6A, 6B and 10

Educational Development Group

Superannuation & Employee Benefits Research Sub-committee of the Institute of Actuaries of Australia

Teaching

Current Teaching

STAT3038/6045 Actuarial Techniques

Previous Teaching

STAT1003 Statistical Techniques

STAT1008 Quantitative Research Methods

STAT1031 Introduction to Actuarial Studies

STAT2032/6046 Financial Mathematics

STAT3015/7030 Generalised Linear Modelling

ACST4032/8041 Actuarial Control Cycle 2

ACST8049 Advanced Global Retirement Income Systems

ANUActuarialX Introduction to Actuarial Science