This paper contributes to the discussion about mandatory participation in collective funded pension schemes. It explores under what circumstances individual participants exercise the option to exit such scheme if participation is voluntary. First, we show how the willingness to participate...

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...

This paper contributes to the discussion about mandatory participation in collective funded pension schemes. It explores under what circumstances individual participants exercise the option to exit such scheme if participation is voluntary. First, we show how the willingness to participate...