Institutional disparities and asset allocation homologation in Italian defined contribution pension funds. How do they affect the guarantee commitment?*

Paola de Vincentiis, Eleonora Isaia and Paola Zocchi

Journal of Pension Economics and Finance, 2017, vol. 16, issue 2, 205-232

Abstract: This paper analyzes the performance of the Italian defined contribution guaranteed pension funds during the period 2008–2012 through a panel analysis. This paper is organized around three main research questions. The first one is focused on the probability of a guarantee payment in a given year. The second one deals with the determinants of the gap between actual return and minimum guaranteed yield on a yearly basis. The third one focuses on the factors affecting the weight of administrative and management costs and their relationship with the fund dimension.

Date: 2017
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Persistent link: https://EconPapers.repec.org/RePEc:cup:jpenef:v:16:y:2017:i:02:p:205-232_00

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