Bucher-Koenen, Tabea; Knebel, Caroline; Weber, Martin - 2023 - This draft: March 21, 2023
investigate the choice between phased withdrawal plans with varying riskiness resulting in volatile retirement income. We find … choice between the selected withdrawal plan and a lifelong annuity. Overall 56% of the respondents switch to the annuity …. Switching behavior is more prevalent among individuals who chose the risk-free and medium-risk withdrawal plans as compared to …