pension scheme in Hong Kong to identify desired product characteristics of an annuity. The preferred annuity is sold by an A …

Most countries have separate pension plan for public sector employees. The future fiscal burden of these plans can be … substantial as the government usually is the largest employer, pension promises in the public sector tend to be relatively … generous, and future payments have to be paid out directly from government revenues (pay-as-you-go) or by funded plans (pension …

Population aging and the poor performance of financial markets during recent years put the sustainability of pension … cutbacks in the generosity of pensions, we analyze their preparedness for retirement in 2008, at the eve of the prolonged … downturn. In contrast to previous efforts to measure preparedness for retirement, we disentangle the roles of variation in …

Households will have to increase their retirement-related assets to face the consequences of pension reforms and …/or increasing longevity. Thus, improving retirement planning seems then to be necessary. However, the literature reports a general … lack of awareness and understanding of the pension system. Transferring information on pensions to households has been …

This paper contributes to the discussion about mandatory participation in collective funded pension schemes. It … pension fund's set of policy instruments can be designed to minimise the likelihood that cohorts exit the pension scheme. The … fair in expectation. Specifically, while the value of the exit-option deters younger workers from exiting the pension fund …

Stand-alone collective pension schemes are an attractive third way between the extensive public pay-as-you-go schemes … of continental Europe and the individual pension plans that are increasingly replacing defined-benefit plans in the Anglo …-Saxon countries. If a number of further reforms are implemented, Dutch pension funds can evolve into stand-alone pension schemes that …

This paper quantifies the business cycle effects and distributional implications of pension fund restoration policy … with a tractable demographic structure and a pension fund. Numerical simulations show that economies with pension funds … that primarily write off accumulated pension wealth to restore financial adequacy behave similarly to an economy without a …

We use a historical experiment to test whether U.S. corporate defined benefit pension plans strategically use … regulatory freedom to lower the reported value of pension liabilities, and hence required cash contributions. For some years …, pension plans were required to estimate two liabilities - one with mandated discount rates and mortality assumptions, and …

This paper evaluates an American pension option, whereby participants have the option to convert their defined benefit … (DB) pension entitlements of a collective scheme to an individual defined contribution (DC) plan, using contingent claim … analysis. This way, we can evaluate the participation decisions under a voluntary collective pension scheme. We approximate the …

determinants of individuals' decisions about consumption, saving, asset allocation, and retirement timing. This study provides … of Health, Ageing and Retirement in Europe (SHARE) with life table data from the Human Mortality Database …