Similar Search Results

Pirrone, Andrea - 2018

Governments have phased out pay-as-you-go pension schemes in favor of funded ones. Instead of dropping the intergenerational transfers of the pay-as-you-go pensions, we propose to invert them. In this way, resources would flow from old to young generations as if it were a system of public...

Persistent link: https://www.econbiz.de/10012913856

Why Choosing Dominated Personal Pension Plans : Sales Force and Financial Literacy Effects

Marotta, Giuseppe - 2018

We investigate the puzzle of choices of dominated personal pension instruments in Italy, with insurers' products (PIPs) much more subscribed than shares of open pension funds offered by banks (FPAs). We find evidence, using the three waves of Bank of Italy's Survey of Household Income and Wealth...

Persistent link: https://www.econbiz.de/10012914292

Do individuals accept fluctuations in pension income?

Bucher-Koenen, Tabea; Knebel, Caroline; Weber, Martin - 2023 - This draft: March 21, 2023

How to invest and decumulate wealth during retirement has far-reaching consequences for consumption during retirement. We conduct an online experiment among 2,500 individuals representative of the adult German population. First, we investigate the choice between phased withdrawal plans with...

Persistent link: https://www.econbiz.de/10014311911

Early Pension Withdrawal as Stimulus

Hamilton, Steven; Liu, Geoffrey; Sainsbury, Tristram - 2023

During the COVID-19 pandemic, the Australian government allowed eligible individuals to withdraw up to A$20,000 (around half median annual wage income) across two tranches from their retirement accounts, ordinarily inaccessible until retirement. Based on historical returns, the modal withdrawal...

Persistent link: https://www.econbiz.de/10014351393

Retirement sorted? : the adequacy and optimality of wealth among the near-retired

Crawford, Rowena; O'Dea, Cormac - 2014

Much of the focus of the UK pensions policy debate over the past decade has been on the adequacy (or otherwise) of private retirement saving. In this paper, we present the first assessment of the optimality of the retirement resources of English couple households born in the 1940s. Here,...

Persistent link: https://www.econbiz.de/10010402537

"Should I pay for you or for myself"? : the optimal level and composition of retirement benefit systems

Praag, Bernard M. S. van; Cardoso, Pedro - 2001

Feldstein [1985] posed the questions of what would be the optimal level of retirement benefit, and what would be the optimal mix between the pay-as-you-go system and the funded pension system under the assumption of an exogenous interest rate. We reconsider the problem with the addition of a...

Persistent link: https://www.econbiz.de/10011339670

Should I Pay for You or for Myself? The Optimal Level and Composition of Retirement Benefit Systems

van Praag, B.M.S; Cardoso, Pedro - 2021

Persistent link: https://www.econbiz.de/10013321036

Can pension funds partially manage longevity risk by investing in a longevity megafund?

Debonneuil, Edouard; Eyraud-Loisel, Anne; Planchet, … - In: Risks : open access journal 6 (2018) 3, pp. 1-27

Pension funds, which manage the financing of a large share of global retirement schemes, need to invest their assets in a diversified manner and over long durations while managing interest rate and longevity risks. In recent years, a new type of investment has emerged, that we call a longevity...

Persistent link: https://www.econbiz.de/10011867481

The Role of Social Security in Household Decisions : VAR Estimates of Saving and Fertility Behaviour in Germany

Cigno, Alessandro; Casolaro, Luca; Rosati, Furio C. - 2021

Estimating saving and fertility simultaneously by the VAR method, we find that social security cover has a positive effect on household saving, and a negative effect on fertility. In Germany, as in other countries where the hypothesis was tested, social security is thus good for growth. A...

Persistent link: https://www.econbiz.de/10013321181

Differential mortality and the progressivity of social security

Bagchi, Shantanu - 2016

relatively unfavorable earnings histories, and therefore lower savings and survivorship, their relatively high mortality risk …-dependent mortality risk. This is because while a more progressive benefit-earnings rule provides increased insurance for households with … nearly identical optimal benefit-earnings rules both with and without differential mortality. …

Persistent link: https://www.econbiz.de/10011554131