Arbeitspapier
Lessons of the financial crisis for the design of national pension systems
The recent financial crisis and historical record suggest important lessons about the design of national pension systems. First, wide fluctuation in asset returns makes it hard for well-informed savers to select a saving rate or a sensible investment strategy for DC pensions. Workers who follow identical investment strategies but who retire a few years apart can receive DC pensions that are startlingly unequal. Second, it is hard for ordinary workers, as opposed to optimal planners, to make sensible choices about portfolio allocation. Their investment errors mean that actual returns fall short of the theoretical returns that could be earned by a well-informed, disciplined investor.
- Sprache
-
Englisch
- Erschienen in
-
Series: CESifo Working Paper ; No. 2735
- Klassifikation
-
Wirtschaft
Nonwage Labor Costs and Benefits; Retirement Plans; Private Pensions
Social Security and Public Pensions
Portfolio Choice; Investment Decisions
Compensation Packages; Payment Methods
- Thema
-
Gesetzliche Rentenversicherung
Umlageverfahren
Kapitaldeckungsverfahren
Finanzmarktkrise
Private Rentenversicherung
Kapitalertrag
Portfolio-Management
Rentenpolitik
USA
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Burtless, Gary
- Ereignis
-
Veröffentlichung
- (wer)
-
Center for Economic Studies and ifo Institute (CESifo)
- (wo)
-
Munich
- (wann)
-
2009
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:45 MEZ
Datenpartner
Dieses Objekt wird bereitgestellt von:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Burtless, Gary
- Center for Economic Studies and ifo Institute (CESifo)
Entstanden
- 2009
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