Down the Retirement Risk Zone with Gun and Camera

Geoffrey Kingston and Lance Fisher

Economic Papers, 2014, vol. 33, issue 2, 153-162

Abstract: type="main" xml:id="ecpa12070-abs-0001">

The retirement risk zone represents a fragile period in the financial life cycle of people in defined-contributions superannuation. It primarily affects people of middle means. Sequencing risk has been described as an independent risk, but it has largely been a consequence of the dominant asset allocation strategy, described here as aggressive constant-mix. Lifetime glide paths should instead resemble a displaced V: the share of growth assets should fall by something like 20-50 percentage points over working life, then another 5 or 10 percentage points on the day of retirement, but should subsequently rise through retirement, by something like 20-30 percentage points.

Date: 2014
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