Optimal timing of retirement is an important part of retirement planning. We consider three types of individuals … distinguished by the way they use information when deciding the retirement time. For each of these types, we analyze two elements … influencing the decision, the market model and the mortality model. We study the impact of working with one combination or another …

In this paper, we develop a retirement model under the expected utility stochastic control framework to find optimal … the Australian retirement system. Few retirees in Australia utilise financial products in retirement, such as annuities or … retirement, and that annuitisation is optimal sooner rather than later once retired. We find that it is never optimal to …

For a retiree who must maintain both investment and longevity risks, we consider the impact on decision making of … focusing on an objective relating to the terminal wealth at retirement, instead of a more correct objective relating to a … retirement income. Both a shortfall and a utility objective are considered; we argue that shortfall objectives may be …

Many organizations provide retirement planning seminars to their employees as a benefit to help them make better … informed retirement decisions. This study examines the participants in 85 seminars conducted by five companies in 2008 and 2009 … to determine how much learning takes place and whether employees adjust retirement plans. Using surveys conducted before …

Many organizations provide retirement planning seminars to their employees as a benefit to help them make better … informed retirement decisions. This study examines the participants in 85 seminars conducted by five companies in 2008 and 2009 … to determine how much learning takes place and whether employees adjust retirement plans. Using surveys conducted before …