We provide a framework in which we link the valuation and asset allocation policies of defined benefits plans with the lifetime marginal productivity schedule of the worker and the pension plan formula. In turn, we examine the retirement policies that are implied by the primitives of the model...

The potential of flexible retirement will not be realised until the fear of substantial income loss is allayed. At present, for people looking at flexible retirement options, the occupational pension is not the vehicle to use, as the SFO (Superannuation Funds Office) does not look favourably on...