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Individual Investor Portfolio Performance in Retirement Savings Accounts
Gan, Su (Sally) - 2013
We analyse the investment performance of a large sample of individuals investing in discretionary retirement savings … reflecting the consequence of their trading behaviours and effectiveness in accumulating retirement savings. It is of particular … interest to policy makers given the tax concessions that retirement savings attract in the expectation that successfully …
Persistent link: https://www.econbiz.de/10013082791
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Simplifying choices in defined contribution retirement plan design : a case study
Mitchell, Olivia S.; Keim, Donald B. - 2017
rates and expense ratios, and we estimate this could lead to aggregate savings for these participants over a 20-year period …
Persistent link: https://www.econbiz.de/10011721902
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Fixed and variable longevity annuities in defined contribution plans : optimal retirement portfolios taking social security into account
Horneff, Vanya; Maurer, Raimond; Mitchell, Olivia S. - 2023
This paper investigates retirees' optimal purchases of fixed and variable longevity income annuities using their defined contribution (DC) plan assets and given their expected Social Security benefits. As an alternative, we also evaluate using plan assets to boost Social Security benefits...
Persistent link: https://www.econbiz.de/10013554899
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Can Asset Allocation Limits Determine Portfolio Risk-Return Profiles in DC Pension Schemes?
Gutierrez, Tomás - 2018
In defined contribution (DC) pension schemes, the regulator usually imposes asset allocation constraints (minimum and maximum limits by asset class) in order to create funds with different risk-return profiles. In this article we challenge this approach and show that such funds exhibit erratic...
Persistent link: https://www.econbiz.de/10012913303
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The Impact of Compulsory Retirement Savings Contributions on Lifetime Welfare
Pan, Wei-Ting - 2016
In private pre-funded retirement savings systems, workers can be compelled by regulation to make minimum contributions … to retirement accounts. We examine the impact of compulsory contributions into retirement savings (superannuation … the consumption of lower wealth individuals is severely constrained by compulsory savings, resulting in a sizeable welfare …
Persistent link: https://www.econbiz.de/10013003988
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Putting the pension back in 401(k) retirement plans : optimal versus default longevity income annuities
Horneff, Vanya; Maurer, Raimond; Mitchell, Olivia S. - 2018
A recent US Treasury regulation allowed deferred longevity income annuities to be included in pension plan menus as a default payout solution, yet little research has investigated whether more people should convert some of the $15 trillion they hold in employer-based defined contribution plans...
Persistent link: https://www.econbiz.de/10011932365
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The Science of Flexible Retirement Choices : Switching Retirement Savings into an Annuity
Clare, Andrew; Seaton, James; Smith, Peter N.; Thomas, Steve - 2023
In this paper we consider the choice that retirees might make between drawing down from their pension pot and the purchase of an annuity. A key finding of our research that in a world of ‘loss aversion’, across a very wide range of assumptions, there is almost always a ‘crossover point’...
Persistent link: https://www.econbiz.de/10014350965
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With Whom and in What is it Better to Save? Personal Pensions in the UK
Petraki, Anastasia - 2013
This paper studies the relationship between fund and provider characteristics, and fund performance using a sample of 4,197 U.K personal pension funds operated by 35 providers over a 30 years' period (1980-2009). The fund performance is measured on an annual basis (short-term) and over the whole...
Persistent link: https://www.econbiz.de/10013083346
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Optimal Asset Allocation for DC Pension Decumulation with a Variable Spending Rule
Forsyth, Peter - 2019
We determine the optimal asset allocation to bonds and stocks using an Annually Recalculated Virtual Annuity (ARVA) spending rule for DC pension plan decumulation. Our objective function minimizes downside withdrawal variability for a given fixed value of total expected withdrawals. The optimal...
Persistent link: https://www.econbiz.de/10012858615
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A Data Driven Neural Network Approach to Optimal Asset Allocation for Target Based Defined Contribution Pension Plans
Li, Yuying - 2018
A data driven Neural Network (NN) optimization framework is proposed to determine optimal asset allocation during the accumulation phase of a defined contribution pension scheme. In contrast to parametric model based solutions computed by a partial differential equation approach, the proposed...
Persistent link: https://www.econbiz.de/10012917253