I am calculating the risk on future earning securities. Currently we use credit when you agree to pay back an amount lent over a period with interest on top. To calculate the risk you work out the beta the historical aggregate of the standard return in the case of the credit the base rate is used as a standard. So this is the problem I have to find a standard I can set the individual return against to work out the risk. The idea is instead of lending money you purchase a percentage of individuals future earnings as return. So I thought perhaps you could link it to civil servants future earnings to calculate the beta of the risk related to other individuals future earnings. Does that sound logical.