Occupational defined benefit (DB) pensions today are outmoded and increasingly costly corporate burdens and are now in decline. However, the transformation of DB is found to be contingent on the institutional setting in which transformation occurs. In this article we offer a modest...

Defined contribution (DC) or money purchase pension saving schemes place the onus on participants to make decisions on asset allocation, the choice of investment vehicles, and the extent to which changes in individual circumstances and macroeconomic conditions should affect investment strategy....

We report results from a study of superannuation member advice-seeking within their plan, explaining observed patterns by member age, gender, issue salience, and size-of-bet effect. Inquiry mode, frequency and volume of contact with the advice-provider, and sensitivity of members to legislative...