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Fixed and variable longevity annuities in defined contribution plans : optimal retirement portfolios taking social security into account
Horneff, Vanya; Maurer, Raimond; Mitchell, Olivia S. - 2023
This paper investigates retirees' optimal purchases of fixed and variable longevity income annuities using their defined contribution (DC) plan assets and given their expected Social Security benefits. As an alternative, we also evaluate using plan assets to boost Social Security benefits...
Persistent link: https://www.econbiz.de/10013554899
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Chapter 11. Complex Decision Making : The Roles of Cognitive Limitations, Cognitive Decline, and Aging
Keane, M.P.; Thorp, S. - In: Handbook of the economics of population aging : Volume 1, (pp. 661-709). 2016
alternatives and/or where attributes of alternatives are difficult to understand. We focus on choices about health insurance …, health care, and retirement planning, all of which are very important for the well-being of the elderly. Our review suggests …
Persistent link: https://www.econbiz.de/10014023472
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Fixed and Variable Longevity Annuities in Defined Contribution Plans : Optimal Retirement Portfolios Taking Social Security into Account
Horneff, Vanya; Maurer, Raimond; Mitchell, Olivia S. - 2023
This paper investigates retirees’ optimal purchases of fixed and variable longevity income annuities using their defined contribution (DC) plan assets and given their expected Social Security benefits. As an alternative, we also evaluate using plan assets to boost Social Security benefits...
Persistent link: https://www.econbiz.de/10014255003
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The Design and Welfare Implications of Mandatory Pension Plans
Larsen, Linda Sandris - 2020
In a rich, calibrated life-cycle model, we show that well-designed mandatory pension plans significantly improve the welfare of individuals procrastinating on savings or not investing in stocks, and even improve rational individuals' welfare through a return tax advantage and fair annuitization....
Persistent link: https://www.econbiz.de/10012848741
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Putting the pension back in 401(k) retirement plans : optimal versus default longevity income annuities
Horneff, Vanya; Maurer, Raimond; Mitchell, Olivia S. - 2018
A recent US Treasury regulation allowed deferred longevity income annuities to be included in pension plan menus as a default payout solution, yet little research has investigated whether more people should convert some of the $15 trillion they hold in employer-based defined contribution plans...
Persistent link: https://www.econbiz.de/10011932365
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Health, Pension Benefits and Longevity : How They Affect Household Savings?
De Freitas, Najat el Mekkaoui - 2015
embodying social transfers (health care and pension expenditures) and changes in longevity to determine the level of household … reforms that reduce replacement rates without reforming health system may not have all the expected impact on household …This paper analyses the impact of health, pension systems and longevity on savings. It uses a simple life-cycle model …
Persistent link: https://www.econbiz.de/10013034723
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Longevity, Health and Housing Risks Management in Retirement
Michaud, Pierre-Carl; St.-Amour, Pascal - National Bureau of Economic Research - 2023
utility when in poor health explain most of the reduced demand. Bequests motives are found to be a luxury good and play a …
Persistent link: https://www.econbiz.de/10014247959
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Assessment of Policy Changes to Means-Tested Age Pension Using Expected Utility Model : Implication for Decisions in Retirement
Andreasson, Johan - 2017
Means-tested pension policies are typical for many countries and are very important to the pension system. These policies are specific for each country, and the assessment of policy changes is critical for policy makers. In this paper we consider the Australian means-tested Age Pension. The...
Persistent link: https://www.econbiz.de/10012955049
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Optimal Annuitisation, Housing Decisions and Means-tested Public Pension in Retirement under Expected Utility Stochastic Control Framework
Andreasson, Johan - 2019
In this paper we develop a retirement model under the expected utility stochastic control framework to find optimal decisions with respect to the consumption, risky asset allocation, access to annuities, reverse mortgage and the option to scale housing. The model is solved numerically using...
Persistent link: https://www.econbiz.de/10012901731
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Optimal Consumption, Investment and Housing with Means-Tested Public Pension in Retirement
Andreasson, Johan - 2018
-tested Age Pension. We account for mortality risk and risky investment assets, and introduce a health proxy to capture the …
Persistent link: https://www.econbiz.de/10012935952