We introduce and analyze a novel collective defined contribution plan (CDC) which guarantees upon retirement at least a … severely worse than expected. Our work indicates that guaranteed retirement benefits can be organized via a CDC scheme with IRS …

We introduce and analyze a novel collective defined contribution plan (CDC) which guarantees upon retirement at least a … severely worse than expected. Our work indicates that guaranteed retirement benefits can be organized via a CDC scheme with IRS …

relates the retirement age to expected life expectancy. Beyond this, we investigate how the government measures in the …

scheme that transfers individual consumption from the working years to the retirement phase of the lifecycle. It discusses … postpone retirement marginally toward the end of the working life. The chapter examines additional criteria (fairness …

average, LAC's pension systems are subsidized, as they provide pensions above what workers would have obtained by investing … replacement rates (pensions relative to earnings) for low-income workers. Despite this progressivity, in some countries, absolute … much more progressive, but still, because low-income workers do not qualify for minimum pensions, between 50-60% of …

Feldstein [1985] posed the questions of what would be the optimal level of retirement benefit, and what would be the …

Feldstein [1985] posed the questions of what would be the optimal level of retirement benefit, and what would be the …

This paper reviews and makes comparative assessment of models of pensions systems. Pension plans and systems, and the …