This paper investigates individuals' investment behaviour in their retirement savings surrounding milestone birthday … ages. Age is expected to play a key role in influencing investment choices, primarily through the risk of the investment … to make investment changes. We utilise a large Australia retirement savings fund which provides the history of investment …

surrender charges, annuities are the primary asset class in a portfolio, and that annuity income is never fully consumed, but … used for rebalancing purposes. We argue that the optimal retirement product for a household is much more complex than any …

with risk aversion between these extremes can identify optimal strategies balancing income and shortfall risk …We test a parametric retirement spending strategy incorporating constant spending, variable spending, smoothing, and … spending and shortfall risk over a large universe of parameters and portfolios. Using certainty equivalent spending with …

and the projections used in pricing. Through the participation scheme, systematic longevity risk is shared between … systematic longevity risk. We also find that stochasticity in mortality rates only has minor impact on the appeal of PLAs to the …

and the projections used in pricing. Through the participation scheme, systematic longevity risk is shared between … systematic longevity risk. We also find that stochasticity in mortality rates only has minor impact on the appeal of PLAs to the …

This paper investigates retirees' optimal purchases of fixed and variable longevity income annuities using their … using plan assets to boost Social Security benefits through delayed claiming. We determine that including deferred income …

This paper investigates retirees’ optimal purchases of fixed and variable longevity income annuities using their … using plan assets to boost Social Security benefits through delayed claiming. We determine that including deferred income …

market instruments. Using intergenerational risk sharing arrangements, risks can be allocated better across the various …

during good times and increase spending during bad times -- a cyclical matching rate on contributions to retirement savings … accounts. The combination of matching rates and matching limits on retirement savings plans creates sharp kinks in … to income and substitution effects operating in different directions, the simulations of the model indicate that the …