This paper examines the retirement savings investment choices of Australian workers over a three year period, including the global financial crisis (GFC). The analysis is based on a large sample of 3.6 million members drawn from five superannuation funds with assets of $74 billion. Australian...

Failure to take account of the mismatch between the assets in defined --benefit pension plans -- primarily equities -- and the liabilities -- deferred fixed annuities -- has long been a major unrecognized source of financial instability. The underfunding problems now facing state and local...

Pension schemes have a significant influence on the saving and consumption decisions of households. Similarly, contributions to pension arrangements are substantial expenditures for national governments and also for corporations, depending on the prevailing pension system. Beyond this, pension...

The paper builds up on the body of the international research of the issue of microcredit to outline the possible policy scenarios and business strategies for the Russian market.Russia has recently witnessed the rapid change of political and regulatory attitude towards the microcrediting. As...

Most Americans will lack the financial resources to be secure and relatively satisfied upon retirement, and commentators increasingly recognize that this “retirement crisis” calls for policy changes affecting both active participants in the workforce and retirees. Nevertheless, some proposed...