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  • 2010-2014  (3)
  • Antolin, Pablo  (3)
  • Paris : OECD Publishing  (3)
  • Cambridge [u.a.] : Cambridge Univ. Press
  • Finance and Investment  (3)
Datasource
Material
Language
Years
Year
Author, Corporation
Publisher
  • Paris : OECD Publishing  (3)
  • Cambridge [u.a.] : Cambridge Univ. Press
Keywords
  • 1
    Online Resource
    Online Resource
    The Economic Impact of Protracted Low Interest Rates on Pension Funds and Insurance Companies (2011)
    Paris : OECD Publishing
    In:  OECD journal: financial market trends Vol. 2011, no. 1, p. 237-256
    Details
    ISSN: 1995-2872
    Language: English
    Pages: 20 p
    Titel der Quelle: OECD journal: financial market trends
    Publ. der Quelle: Paris : OECD, 2008
    Angaben zur Quelle: Vol. 2011, no. 1, p. 237-256
    Keywords: Finance and Investment
    Abstract: A period of protracted low interest rates is a feasible, even if not the most likely, scenario going forward and such a scenario would adversely affect pension funds and insurance companies. Protracted low interest rates affect investment opportunities and have a potentially significant adverse effect on life insurance companies and institutions whose liabilities consist of a fixed investment return or benefit promises, such as is the case for defined-benefit pension funds. It cannot be ruled out that the financial institutions affected engage in “gambling for redemption” in an attempt to match the level of return promised to beneficiaries when financial markets were more elevated.
    DOI: 10.1787/fmt-2011-5kg55qw0m56l
    URL: Volltext
    URL: lizenzpflichtig
    Library Location Call Number Volume/Issue/Year Availability
    BibTip Others were also interested in ...
    Online Resource
    MPI Ethno. Forsch.
  • 2
    Online Resource
    Online Resource
    Assessing the Labour, Financial and Demographic Risks to Retirement Income from Defined-Contribution Pensions (2011)
    Paris : OECD Publishing
    In:  OECD journal: financial market trends Vol. 2010, no. 2, p. 189-217
    Details
    ISSN: 1995-2872
    Language: English
    Pages: 29 p
    Titel der Quelle: OECD journal: financial market trends
    Publ. der Quelle: Paris : OECD, 2008
    Angaben zur Quelle: Vol. 2010, no. 2, p. 189-217
    Keywords: Finance and Investment
    Abstract: This article examines the impact of labour, financial and demographic risks on retirement income from DC pension plans, with a special emphasis on labour-market risk. It uses a stochastic model that incorporates uncertainty about returns on investment, inflation, discount rates, life expectancy, employment prospects and real wages. The analysis herein highlights that labour-market risk, as well as uncertainty about returns on investment and inflation, have the largest impact on retirement income. The results suggest that default life-cycle investment strategies that reduce exposure to risky assets in the last decade before retirement are quite helpful in reducing the risk of sharp reductions in retirement income, in particular when a negative shock to equity markets occurs in the years before retiring. However, life-cycle strategies fail to address issues of retirement income adequacy or smooth out the volatility in retirement income from DC pension plans.
    DOI: 10.1787/fmt-2010-5kggc0z23fr5
    URL: Volltext
    URL: lizenzpflichtig
    Library Location Call Number Volume/Issue/Year Availability
    BibTip Others were also interested in ...
    Online Resource
    MPI Ethno. Forsch.
  • 3
    Online Resource
    Online Resource
    Assessing Default Investment Strategies in Defined Contribution Pension Plans (2010)
    Paris : OECD Publishing
    In:  OECD journal: financial market trends Vol. 2010, no. 1, p. 87-115
    Details
    ISSN: 1995-2872
    Language: English
    Pages: 29 p
    Titel der Quelle: OECD journal: financial market trends
    Publ. der Quelle: Paris : OECD, 2008
    Angaben zur Quelle: Vol. 2010, no. 1, p. 87-115
    Keywords: Finance and Investment
    Abstract: This paper assesses the relative performance of different investment strategies for different structures of the payout phase. In particular, it looks at whether the specific glide-path of life-cycle investment strategies and the introduction of dynamic features in the design of default investment strategies affect significantly retirement income outcomes. The analysis concludes that there is no “one-size-fits-all” default investment option. Life-cycle and dynamic investment strategies deliver comparable replacement rates adjusted by risk. However, life-cycle strategies that maintain a constant exposure to equities during most of the accumulation period, switching swiftly to bonds in the last decade before retirement, seem to produce better results and are easier to explain. Dynamic management strategies can provide somewhat higher replacement rates for a given level of risk than the more deterministic strategies, at least in the case of pay-outs in the form of variable withdrawals. The length of the contribution period also affects the ranking of the different investment strategies with life-cycle strategies having a stronger positive impact the shorter is the contribution period.
    DOI: 10.1787/fmt-2010-5km7k9tp4bhb
    URL: Volltext
    URL: lizenzpflichtig
    Library Location Call Number Volume/Issue/Year Availability
    BibTip Others were also interested in ...
    Online Resource
    MPI Ethno. Forsch.
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