Guaranteeing Defined Contribution Pensions: The Option to Buy Back a Defined Benefit Promise
نویسندگان
چکیده
منابع مشابه
Aggregate Implications of Defined Benefit and Defined Contribution Systems
One of the most significant fiscal challenges facing governments in the next few decades is the financing of retirement benefits. Due to this challenge, governments are considering a variety of social security reforms. This paper investigates the implications of different reforms for a nation’s economy and for the welfare of its citizens. Specifically, the authors explore the economic outcomes ...
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We provide new empirical evidence on the importance of defined contribution pension wealth in England, and the nature of annuitization decisions taken by older adults who retire with such sources of wealth. Other things equal, financial literacy, and numeracy in particular, are important factors governing individuals' choices over whether to shop around for an annuity as opposed to taking the '...
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ژورنال
عنوان ژورنال: Journal of Risk & Insurance
سال: 2003
ISSN: 0022-4367,1539-6975
DOI: 10.1111/1539-6975.00044