-tested payments creates an incentive to cash out (occupational) pension wealth for low and middle income earners, instead of taking … the annuity. Agents trade-off the advantages from annuitization, receiving the wealth-enhancing mortality credit, to the … predicted annuitization rates as a function of the level of pension wealth are roughly consistent with the cash-out patterns of …

What is the optimal default contribution rate or default asset allocation in pension plans? Could active decision (i …

characterize. Indeed, the importance of uninformed opt-out requires a reassessment of the conventional wisdom about Nudge and …

We exploit the fact that Israeli pension insurance policies do not take health conditions or smoking status into … account in annuity pricing to investigate the potential effect of being a smoker on retirement payout choices. Contrary to the … pricing mechanism means that smokers would be offered the same annuity as nonsmokers (all else equal), we find that smokers do …

effort if a risk of forfeiture of pension claims is present. Exploiting the German non-forfeiture clause for employer … forfeiture exert a positive effect on work engagement. Since occupational pension claims are selectively distributed across …