Similar Search Results

Behavioral Impediments to Valuing Annuities: Complexity and Choice Bracketing

Brown, Jeffrey R.; Kapteyn, Arie; Luttmer, Erzo F.P.; … - 2019

This paper examines two behavioral factors that diminish people's ability to value a life-time income stream or annuity, drawing on a survey of about 4,000 adults in a U.S. nationally representative sample. By experimentally varying the degree of complexity, we provide the first causal evidence...

Persistent link: https://www.econbiz.de/10012005964

The Effect of Public Pension Eligibility Age on Household Saving: Evidence from a New Zealand Natural Experiment

Talosaga, Talosaga; Vink, Mark - 2014

This paper examines the effect of the last increase in the eligibility age for New Zealand's public pension, New Zealand Superannuation, on household saving rates. The age of eligibility was increased progressively from 60 to 65 years old between 1992 and 2001, with little forewarning. Drawing...

Persistent link: https://www.econbiz.de/10012115688

Das Nudging-Konzept und die Altersvorsorge: der Blick zu knuff und puff in Schweden

Haupt, Marlene; Sesselmeier, Werner; Yollu-Tok, Aysel - In: Vierteljahrshefte zur Wirtschaftsforschung 87 (2018) 2, pp. 17-31

This article focuses on the importance of behavioral economic findings for pensions as a sociopolitically relevant … field. First, current data on the development of old-age provision in Germany are presented, especially since the … introduction of nudges in Germany can be better assessed. …

Persistent link: https://www.econbiz.de/10012144656

Inherited Wealth and Demographic Aging

Onder, Harun; Pestieau, Pierre - 2016

The role of inherited wealth in modern economies has increasingly become under scrutiny. This study presents one of the first attempts to shed light on how demographic aging could shape this role. We show that, in the absence of retirement annuities, or for a given level of annuitization, both...

Persistent link: https://www.econbiz.de/10011522484

Are the Japanese unique? Evidence from household saving and bequest behavior

Horioka, Charles Yuji - 2016

In this paper, we attempt to shed light on whether Japanese households are rational or if their behavior is influenced by culture and social norms by examining their saving and bequest behavior. To summarize our main findings, we find that Japan's household saving rate showed great volatility,...

Persistent link: https://www.econbiz.de/10011564954

Time Inconsistent Preferences and the Annuitization Decision

Schreiber, Philipp; Weber, Martin - C.E.P.R. Discussion Papers - 2015

When entering retirement most people face the decision whether they would like their defined contribution account balance paid as a lump sum or to annuitize the amount. The fact that people tend to choose the lump sum even if economic reasons suggest not to is called the annuity puzzle. In a...

Persistent link: https://www.econbiz.de/10011165648

Riester Pensions in Germany: Design, Dynamics, Targetting Success and Crowding-In

Börsch-Supan, Axel H.; Coppola, Michela; Reil-Held, Anette - National Bureau of Economic Research (NBER) - 2012

Riester pensions are voluntary, but heavily subsidized private pension schemes in Germany. They were designed as a … generosity of the public pay-as-you-go pensions in response to population aging. This paper investigates how the uptake of the … recently introduced "Riester pensions" depends on the state-provided saving incentives and how well the targeting to families …

Persistent link: https://www.econbiz.de/10011227937

The Effect of Public Pension Eligibility Age on Household Saving: Evidence from a New Zealand Natural Experiment

Talosaga, Talosaga; Vink, Mark - Treasury, Government of New Zealand - 2014

This paper examines the effect of the last increase in the eligibility age for New Zealand’s public pension, New Zealand Superannuation, on household saving rates. The age of eligibility was increased progressively from 60 to 65 years old between 1992 and 2001, with little forewarning. Drawing...

Persistent link: https://www.econbiz.de/10010992364

Should I Stay or Should I Go? The Role of Actuarial Reduction Rates in Individual Retirement Planning in Germany

Kluth, Sebastian - Munich Center for the Economics of Aging (MEA) at the … - 2014

pension payments in Germany and to what extent the existence and the magnitude of such reduction rates influence people …

Persistent link: https://www.econbiz.de/10010796196

Life Cycle Portfolio Choice: A Swiss Perspective

Zainhofer, Florian - In: Swiss Journal of Economics and Statistics 143 (2007) 2, pp. 187-238

We use panel data from the Swiss Labor Force Survey to estimate age-earnings profiles as well as transitory and permanent income shock variances for investor groups distinguished by gender, education and activity rate. Estimation results are then used to stylize several different Swiss investor...

Persistent link: https://www.econbiz.de/10011933155