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Betting on death and capital markets in retirement: A shortfall risk analysis of life annuities versus phased withdrawal plans
Dus, Ivica; Maurer, Raimond H.; Mitchell, Olivia S. - 2004
How might retirees consider deploying the retirement assets accumulated in a defined contribution pension plan? One possibility would be to purchase an immediate annuity. Another approach, called the 'phased withdrawal' strategy in the literature, would have the retiree invest his funds and then...
Persistent link: https://www.econbiz.de/10010298279
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Better Safe than Sorry - Individual Risk-free Pension Schemes in the European Union
Peters, Marga - In: Contemporary Economics 6 (2012) 3, pp. 22-37
Variations among the diverse pension systems in the member states of the European Union (EU) hamper labor market mobility across national borders and also among firms within the countries of the EU. From a macroeconomic perspective, and in the light of demographic pressure, this paper argues...
Persistent link: https://www.econbiz.de/10010436020
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Better safe than sorry : individual risk-free pension schemes in the European Union
Peters, Marga - In: Contemporary economics 6 (2012) 3, pp. 22-37
Variations among the diverse pension systems in the member states of the European Union (EU) hamper labor market mobility across national borders and also among firms within the countries of the EU. From a macroeconomic perspective, and in the light of demographic pressure, this paper argues...
Persistent link: https://www.econbiz.de/10009767598
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“Better Safe than Sorry” - Individual Risk-free Pension Schemes in the European Union - Macroeconomic Benefits, the Mobile Working Citizen’s Perspective and Why Nots
Peeters, Marga - Volkswirtschaftliche Fakultät, … - 2011
Variations between the diverse pension systems in the member states of the European Union hamper labour market mobility, across country borders but also within the countries of the European Union. From a macroeconomic perspective, and in the light of demographic pressure, this paper argues that...
Persistent link: https://www.econbiz.de/10009322625
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Money in motion: Dynamic portfolio choice in retirement
Horneff, Wolfram J.; Maurer, Raimond H.; Mitchell, Olivia S. - 2007
equity premium and longevity insurance in her retirement portfolio. Even without bequests, she will not fully annuitize …
Persistent link: https://www.econbiz.de/10010298370
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Money in motion: Dynamic portfolio choice in retirement
Horneff, Wolfram J.; Maurer, Raimond H.; Mitchell, Olivia S. - Center for Financial Studies - 2007
equity premium and longevity insurance in her retirement portfolio. Even without bequests, she will not fully annuitize …
Persistent link: https://www.econbiz.de/10010958527
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Projections of dynamic generational tables and longevity risk in Chile
Alonso, Javier; Tuesta, David; Torres Torres, Diego; … - BBVA Research, Grupo BBVA - 2013
The increase in longevity risk is leading to serious challenges for economies. Industries such as insurance and … pensions, which are most closely related to the management of the risks of an aging population, have for a number of years … will have major negative effects on the pension and insurance industry, in the hypothetical case that they were not updated …
Persistent link: https://www.econbiz.de/10010784818
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Optimal Gradual Annuitization: Quantifying the Costs of Switching to Annuities
Horneff, Wolfram J.; Maurer, Raimond H.; Stamos, Michael Z. - 2007
We compute the optimal dynamic asset allocation policy for a retiree with Epstein-Zin utility. The retiree can decide how much he consumes and how much he invests in stocks, bonds, and annuities. Pricing the annuities we account for asymmetric mortality beliefs and administration expenses. We...
Persistent link: https://www.econbiz.de/10010316095
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Pension Policy in EU25 and its Possible Impact on Elderly Poverty
Fuchs, Michael; Grech, Aaron George; Zaidi, Asghar - Centre for Analysis of Social Exclusion, LSE - 2006
This paper reviews changes in pension policies in EU countries between 1995 and 2005 and describes how they might affect risk of poverty for future pensioner populations. The pension landscape in Europe has changed considerably in the past decade and the paper highlights commonalities as well as...
Persistent link: https://www.econbiz.de/10009201281
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Pension policy in EU25 and its possible impact on elderly poverty
Zaidi, Asghar; Grech, Aaron George; Fuchs, Michael - London School of Economics (LSE) - 2006
This paper reviews changes in pension policies in EU countries between 1995 and 2005 and describes how they might affect risk of poverty for future pensioner populations. The pension landscape in Europe has changed considerably in the past decade and the paper highlights commonalities as well as...
Persistent link: https://www.econbiz.de/10011126478