Chai, Jingjing; Maurer, Raimond; Mitchell, Olivia S.; … - 2011
The direct financial impact of the financial crisis has been to deal a heavy blow to investment-based pensions; many … workers lost a substantial portion of their retirement saving. The financial sector implosion produced an economic crisis for …, invest more in stocks, save more, and reduce their demand for private annuities. -- Financial Crisis ; Household Finance …