This paper investigates individuals' investment behaviour in their retirement savings surrounding milestone birthday ages. Age is expected to play a key role in influencing investment choices, primarily through the risk of the investment strategy reflected in the asset allocation. Less clear is...

We use a stochastic life-cycle model to examine the implications for Australian retirees of full access to dividend imputation credits. We find that the availability of imputation credits can justify a significant bias towards Australian equities in retirement portfolios, largely at the expense...

A simulation approach is used to investigate how various investment strategies affect the ability of retirees to spend at a desired level up until death. Retirees are assumed to maintain all investment and longevity risk, and also have access to a government-sponsored and means tested Age...

A comprehensive financial and superannuation projection model is developed to investigate the impact of the introduction of AASB 119 on employer sponsors of defined benefit superannuation funds. A model Plan is projected forward 25 to 30 years. It is found that closing a plan to new entrants can...

We investigate optimal investment and drawdown decisions in retirement, and show that the asset mix and drawdown strategy vary significantly with financial circumstances and preferences. Loss aversion preferences lead to hedging strategies to secure the target consumption through use of...

Default investment options in retirement plans are a potent influence on member choice. Little is known about how plans set them. We investigate how retirement plan providers choose default investment strategies for passive members. We interview plan executives and survey members during a review...