The expectations of economic agents play a crucial role in almost any inter-temporal economic model. A period of economic crisis may make consumer expectations more pessimistic and affect their saving or retirement plans and decisions.

Life expectancies are rapidly increasing and uncertain in all countries in Europe. To keep pension systems affordable, policy reforms are to be implemented which will encourage individuals to work longer and that adjust pension systems such that if life expectancy increases without adjustments in the retirement age, the pension income level decreases.

The provision of financial security in retirement is critical for both individuals and societies as most countries are now grappling with the social and economic effects of ageing populations. Yet, a comparison of the diverse retirement income systems around the world is not straight forward.

This report reviews recent as well as planned changes to accounting and solvency regulations affecting insurers and pension funds and how they may impact long-term investing by these institutions.

Tidligpensjonering kan være bra for helsen. Det viser en fersk svensk forskningsstudie som sammenligner helsen til yrkesoffiserer med ulik avgangsalder.

The focus of this study is on line managers’ attitudes towards their management role in respect of employee retirement.

Tax incentives are seen as a means to encourage pension saving amid concerns that people are not saving enough for retirement. Pension saving attracts a level of tax relief that compares favourably with other types of saving. However, there are concerns that tax relief is expensive, poorly targeted and does not achieve its policy objectives.

This paper identifies and estimates the impact of early retirement on the probability to die within five years, using administrative micro panel data covering the entire population of the Netherlands.

The Norwegian ministry of finance has asked us to investigate the possibilities for the Government Pension Fund Global (GPFG) to profit from liquidity premiums in illiquid investments. Can a large investor with a long horizon, limited short term liquidity needs and high risk bearing capacity, such as the GPFG, profit from these liquidity premiums?

The 23rd wave of the Retirement Confidence Survey (RCS) finds that Americans’ confidence in their ability to afford a comfortable retirement remains low, despite the improving economy.

The last decade has witnessed a renewed interest of researchers in portfolio choice theory, with a particular emphasis on the portfolio choice problem of a multi-period investor. The variability of expected asset returns over time is one of main distinctions that sets apart the multi-period portfolio choice problem from its single-period counterpart.

It is widely accepted that mortality risk varies across individuals within age-sex bands of a population. This heterogeneity exposes insurers to adverse selection if only the healthiest lives purchase annuities, so standard annuities are priced with a mortality table that assumes above-average longevity.