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A simulation approach is used to investigate how various investment strategies affect the ability of retirees to spend at a desired level up until death. Retirees are assumed to maintain all investment and longevity risk, and also have access to a government-sponsored and means tested Age...
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older men from the 1970s to the early 1990s, a trend that has only recently shown signs of being reversed. Retirement … different quot;retirementquot; experiences. At the top of the wealth distribution, early retirement has typically been …, disability benefits. Policy-makers keen to increase effective retirement ages will need to consider the very different …
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I provide evidence that defined contribution (DC) pensions make retirement more positively correlated with stock market …-DC pension respond to a one standard deviation shock to quarterly market returns by adjusting their retirement date by …
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the fact that the state retirement pension does not become available to men until age 65, half of men aged 60-64 were … economically inactive in the mid 1990s. The main element of the state retirement pension is flat rate, and for most people is … earned as a result of extra contribu- tions. Overall the state retirement pension system offers no incentives for people to …
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