Three retirement decision models for defined contribution pension plan members: A simulation study
نویسندگان
چکیده
منابع مشابه
Three Retirement Decision Models for Defined Contribution Pension Plan Members: A Simulation Study
This paper examines the hypothetical retirement behavior of defined contribution (DC) pension plan participants. Using a Monte Carlo simulation approach, we compare and discuss three retirement decision models: the two-thirds replacement ratio benchmark model, the optionvalue of continued work model and a newly-developed “one-year” retirement decision model. Unlike defined benefit (DB) pension ...
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As defined-contribution (DC) pension plans grow in importance, so too should our understanding of their implications on an individual and aggregate level. In the present paper, we examine the hypothetical retirement behavior of workers under a DC pension scheme. Using a simulation approach, we compare and discuss the outcome of three retirement decision models: the two-thirds replacement-ratio ...
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ژورنال
عنوان ژورنال: Insurance: Mathematics and Economics
سال: 2011
ISSN: 0167-6687
DOI: 10.1016/j.insmatheco.2010.06.008