We consider the choices available to a pension plan member at the time of retirement for conversion of his personal or defined contribution (DC) pension fund into a stream of income in retirement. In particular, we compare the purchase at retirement age of a conventional life annuity (that is, a bond-based investment) against a variety of programmes that involve differing exposures to equities ...

Employment sector and employer size account for substantial variation in workers' participation in employer-sponsored retirement plans. Other things being equal, employees in the public sector--that is, federal, state, and local governments--are much more likely to be offered a retirement plan than workers in the private sector. Within the private sector, workers in firms with 100 or more emplo...

The findings, interpretations, and conclusions expressed in this study are entirely those of the authors and do not necessarily represent the views of the Asian Development Bank or those of its member governments. The Asian Development Bank does not guarantee the accuracy of the date included in this publication and accepts no responsibility whatsoever for any consequences of their use. In this...

terest in alternative investments, a significant gap has emerged between the culture and expectations of those investors and hedge fund managers. Pension plan sponsors typically require transparency from their managers and impose numerous restrictions on their investment mandates because of regulatory requirements such as ERISA rules; hedge fund managers rarely provide position-level transparen...