This article, based on two books (Barr and Diamond 2008, forthcoming), sets out a series of principles for pension design rooted in economic theory: pension systems have multiple objectives, analysis should consider the pension system as a whole, analysis should be framed in a second-best...

Diese empirische Arbeit untersucht Determinanten des Renteneintritts. Sie basiert auf einem Optionswertmodell, um die Bedeutung finanzieller Überlegungen für ein Aufschieben des Renteneintritts zu analysieren. Zusätzlich wird der Einfluss institutioneller Rahmenbedingungen betrachtet. Ein neu...

Drastic demographic changes in Japan have forced Japanese municipalitiesto seek ways to prevent further shrinking. One strategy initiated by severaltowns and cities is to attract retirees. Due to recent changes in elderly people’slifestyles, it is not unreasonable to opt for this strategy:...

Life annuities provide a guaranteed income for the remainder of the recipi-ent’s lifetime, and therefore, annuitization presents an important option whenchoosing an adequate investment strategy for the retirement ages. While thereare numerous research articles studying annuities from a...

Vor dem Hintergrund der Reformen des Rentensystems zeigt sich dieNotwendigkeit zur Förderung der freiwilligen zusätzlichen Altersvorsorge sowohlaus sozialpolitischer als auch aus individueller Sicht. Dabei spielenpsychologische Faktoren wie die Bereitschaft zur privaten Altersvorsorge...

Many countries around the world have large public pension programs. Traditionally, these programshave been used to induce retirement by the elderly in order to free up jobs for the young andto redistribute income across generations. This paper provides an efficiency rationale for the...

CII Introduction: People are living longer and with this come increased costs of pensions, health and social care. Is the financial services industry as it is currently configured capable of supporting consumers in this difficult environment? How will it meet the needs of those who are often...