The Value and risk of defined contribution pension schemes : international evidence
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LDR | 00000cab a2200000 4500 | ||
001 | MAP20130012988 | ||
003 | MAP | ||
005 | 20130807132806.0 | ||
008 | 130422e20130304esp|||p |0|||b|spa d | ||
040 | $aMAP$bspa$dMAP | ||
084 | $a345 | ||
100 | 1 | $0MAPA20130005140$aCannon, Edmund | |
245 | 1 | 4 | $aThe Value and risk of defined contribution pension schemes$b: international evidence$cEdmund Cannon, Ian Tonks |
520 | $aWe use historical data on investment returns and labor income from 16 countries to quantify the value and risk of defined contribution pension plans, building frequency distributions of pension fund and pension replacement ratios for each country.We show that pension risk is substantial and find that pension fund ratios are lower and less variable than when the correlation between wage growth and investment returns is ignored, typically halving the median pension fund ratio. We also show that an all-equity fund is the dominant investment strategy across all countries, although sometimes a life-cycle strategy insures against downside risk | ||
650 | 4 | $0MAPA20080591021$aFondos de pensiones | |
650 | 4 | $0MAPA20080558970$aInversiones | |
650 | 4 | $0MAPA20080592455$aPlanes de pensiones | |
700 | 1 | $0MAPA20130010915$aTonks, Ian | |
773 | 0 | $wMAP20077000727$tThe Journal of risk and insurance$dNueva York : The American Risk and Insurance Association, 1964-$x0022-4367$g04/03/2013 Volumen 80 Número 1 - marzo 2013 , p. 95-119 |