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Pension profile preferences: the influence of trust and expected expenses

Carin Cruijsen and Nicole Jonker

Applied Economics, 2019, vol. 51, issue 12, 1212-1231

Abstract: This paper studies the influence of people’s expectations about expenses during retirement and trust in pension funds on preferences for different pension arrangements. Although most workers prefer a flat-rate annuity, many workers want to deviate from it. The most popular option is a high/low, annuity-based profile, followed by a partial lump sum payment. Workers who expect declining expenses during retirement are more likely to opt for a high/low annuity-based pension and/or a lump sum payment at retirement. Furthermore, workers and pensioners who do not trust their pension fund are more likely to prefer a lump sum over annuity-based arrangements.

Date: 2019
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Working Paper: Pension profile preferences: the influence of trust and expected expenses (2016) Downloads
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DOI: 10.1080/00036846.2018.1527010

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