Optimal management and inflation protection for defined contribution pension plans
نویسندگان
چکیده
منابع مشابه
Optimal Dynamic Asset Allocation for Defined-Contribution Pension Plans
We develop an optimal asset allocation model for the accumulation phase of a definedcontribution pension plan in the presence of non-hedgeable salary risk. The model considers a policyholder who each period, t, contributes a constant proportion, π, of his salary, S(t), to a personal pension fund, W(t). At the time of retirement, T , the fund is converted into an annuity paying W (T)/a(T) each p...
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The financial market’s performance plays an important role in the retirement date of a DC pension plan holder. Consequentially, it could potentially also influence the labour force structure of countries that adopt DC features in their public and private pension systems. Numerous studies are motivated, however, by the theory that financial markets are affected by a country’s demographics, makin...
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As a consequence, individuals‟ retirement planning requirements have become significantly more complex. In an ideal world, members of DC schemes would have access to individual investment advice to allow them to construct a plan to help manage these risks. In practice it has not yet been possible to supply full, individually tailored advice to all DC members on an affordable basis. Instead what...
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We explore the various arguments for and against the recommendation that younger households should invest a larger share of their pension wealth in risky assets. The ability of young agents to compensate their financial losses by saving more during their career provides the strongest argument in favour of younger people investing more aggressively in the stock market. Meanreversion in stock ret...
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Records of 793,794 employees eligible to participate in 647 defined contribution pension plans are studied. About 71% of them choose to participate in the plans, and of the participants, 12% choose to contribute the maximum allowed, $10,500. The main findings are (other things equal) (1) participation rates, contributions and (most remarkably) savings rates increase with compensation; on averag...
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ژورنال
عنوان ژورنال: Blätter der DGVFM
سال: 2007
ISSN: 1864-0281,1864-0303
DOI: 10.1007/s11857-007-0019-x