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Optimal Rules for Defined Contribution Plans : What Can We Learn from the U.S. and Australian Pension Systems?

Forman, Jonathan Barry - 2014

Both the United States and Australia have multi-pillar retirement systems that include a public component and a private … overview of the retirement systems of the U.S. and Australia. Next, this paper compares the rules governing defined … contribution plans in the U.S. and Australia. In particular, this paper focuses on the rules governing the contribution …

Persistent link: https://www.econbiz.de/10013067180

The demand for enhanced annuities

Schumacher, Petra - 2008

In enhanced annuities, the annuity payment depends on one's state of health at some contracted date while in "standard annuities", it does not. The focus of this paper is on an annuity market where "standard" and enhanced annuities areoffered simultaneously. When all insured know equally well on...

Persistent link: https://www.econbiz.de/10010443172

Increasing retirement savings through access points and persuasive messages : evidence from Mexico

Bosch Mossi, Mariano; Rubli, Adrian - 2019

Transaction costs impose a barrier to savings, but lowering them may have smaller impacts than expected due to other constraints, such as psychological biases. Within the context of retirement savings under defined contributions in the privatized pension system in Mexico, we analyze two...

Persistent link: https://www.econbiz.de/10012167886

Eine Frage der Perspektive? : die Wahrnehmung von Steuern bei Anlageentscheidungen zur privaten Altersvorsorge

Treisch, Corinna; Jordan, Silvia - 2008

This study empirically analyses the influence of tax concessions on decisions regarding retirement savings in Austria. We analyse real decisions on retirement savings by using qualitative data. This allows us to examine how different, perceived decision-making criteria have led to actual...

Persistent link: https://www.econbiz.de/10003872914

Design of comprehensive income products for retirement using utility functions

Warren, Geoff - 2020

An approach for designing a menu of comprehensive income products for retirement (CIPRs) is proposed and demonstrated. The approach entails for steps: defining and characterising member types based on selected attributes; specifying a utility function to capture the objectives and preferences of...

Persistent link: https://www.econbiz.de/10012846001

Size and Investment Performance : Defined Benefit vs. Defined Contribution Pension Plans

Jang, Donghyeok - 2020

We examine the investment performance of over 160 thousand U.S. private pension plans. We find significant economies of scale in performance and administrative expenses, which are more prominent for defined benefit (DB) plans than for defined contribution (DC) plans. DC plans outperform...

Persistent link: https://www.econbiz.de/10012822616

Does Greater Complexity Reduce Retirement Adequacy? Evidence from the Survey of Consumer Finances, 1995-2007

Kim, Kyoung Tae - 2016

Fudenberg's (2006) model of bounded rationality posits that greater complexity should result in households being less likely to achieve rational outcomes. Some households have higher complexity in retirement planning because expected retirement income varies during retirement. Based on 1995 to...

Persistent link: https://www.econbiz.de/10013008014

The Annuity Puzzle Remains a Puzzle

Peijnenburg, Kim - 2016

We examine incomplete annuity menus, background risk, bequest motives, and default risk as possible drivers of divergence from full annuitization. Contrary to what is often suggested in the literature, we find that full annuitization remains optimal if saving is possible after retirement. This...

Persistent link: https://www.econbiz.de/10013008918

Optimization-Based Guidelines to Retirement Planning and Pension Product Design

Konicz Bell, Agnieszka K. - 2015

Persistent link: https://www.econbiz.de/10013027547

When Cognitive Functioning Meets Financial Literacy and Judgment in Older Age : Advising Those Self-Managing Retirement Savings

Earl, Joanne - 2015

We investigate the relationships between measures of financial literacy, applied financial literacy, financial judgment and measures of fluid and crystallised cognitive ability. Given an ageing population and the responsibility for managing savings in retirement, this relationship is of...

Persistent link: https://www.econbiz.de/10013028535