This paper advances the specification and estimation of models of retirement and saving in two earner families. The complications introduced by the interaction of retirement decisions by husbands and wives have led researchers to adopt a number of simplifications to increase the feasibility of...

An enhanced version of a structural model jointly explains benefit claiming, wealth and retirement, including reversals from states of lesser to greater work. The model includes stochastic returns on assets. Estimated with Health and Retirement Study data, it does a better job of predicting...

We explore the feasibility of a funded pension system with intergenerational risk sharing when participation in the system is voluntary. Typically, the willingness of the young to participate depends on their belief about the future young's willingness to do so. We characterise equilibria with...

We explore the feasibility of a funded pension system with intergenerational risk sharing when participation in the system is voluntary. Typically, the willingness of the young to participate depends on their belief about the future young's willingness to do so. We characterise equilibria with...

Az 1998-as nyugdíjreform nem hozott alapvető változásokat a társadalombiztosítási nyugdíjrendszerben. Ezért vetődött fel 2001-ben az egyéni számlás nyugdíjrendszer bevezetésének lehetősége azon elgondolás alapján, hogy az első pillérnek tekintett felosztó-kirovó...

How might retirees consider deploying the retirement assets accumulated in a defined contribution pension plan? One possibility would be to purchase an immediate annuity. Another approach, called the phased withdrawal strategy in the literature, would have the retiree invest his funds and then...

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Este trabajo ofrece un análisis sobre la distribución del ingreso de los pensionados, resaltando la existencia de una restricción de pensión mínima. Primero, se calculó un Coeficiente de Gini para las personas afiliadas a los fondos de pensiones privadas. Seguidamente, se realizó una...

Including a matching contribution increases savings plan participation and contributions, although the impact is less significant than the impact of nonfinancial approaches. Conditional on participation, a higher match rate has only a small effect on savings plan contributions. In contrast, the...

The direct financial impact of the financial crisis has been to deal a heavy blow to investment-based pensions; many workers lost a substantial portion of their retirement saving. The financial sector implosion produced an economic crisis for the rest of the economy via high unemployment and...