2014

Pension regulators stress the need for plan members to receive information allowing them to monitor their future pension wealth and the investment risk they bear.

The "money's worth" measure has been used to assess whether annuities are fairly valued and also as evidence for adverse selection in the annuity market. However, a regulated life assurer with concerns about predicting long-run mortality may price annuities to reduce these risks which will affect the money’s worth.

This paper reviews recent literature on the impact on labour supply of pension systems reforms and characteristics, with focus on people in their 50s and above, and including studies of interaction with other social insurance programmes.

A well-documented behavioral pattern guiding individuals’ investment decisions is the disposition effect, which refers to the tendency to sell winning investments too early, while holding on to losing investments too long. This bias has negative wealth consequences, as typically, individuals’ losing investments continue to underperform while their winning investments continue to outperform.

Alt i alt holder bruken av tidligpensjonering seg på samme nivå som i 2002 blant ansatte i kommuner og fylkeskommuner.

Bare én av tre kommune-seniorer sier at de har god kunnskap om pensjonsreformen og hvilke konsekvenser den har for dem. Det er stor forvirring om hva slags muligheter offentlige ansatte har til å kombinere arbeid og pensjon fra fylte 62 år, viser et nytt Fafo-notat.

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 thesis examines whether European Union pension funds overweigh domestic assets in their portfolio and aims to determine why they have a so called home bias. Up to 79% of the 110 respondents of a secondary survey are shown to be biased towards domestic and European assets when compared to the capital asset pricing model.

The minimum pension age is one element of a private pensions system that aims to ensure that pension savings are used to provide income and security in retirement while also incentivising pension saving.

We study the life cycle of portfolio allocation following for 15 years a large random sample of Norwegian households using error-free data on all components of households’ investments drawn from the Tax Registry.

According to economic theory, “well-being” is measured better by consumption rather than by income. Furthermore, pre- and postretirement spending requirements are very different: Before retirement, people pay FICA taxes, incur work-related expenses, and set money aside for retirement.

This thesis studies the effects of redistribution and risk sharing in collective pensions on economic behaviour, with particular attention paid to the retirement decision.