Pension profile preferences: the influence of trust and expected expenses
Carin Cruijsen and
Applied Economics, 2019, vol. 51, issue 12, 1212-1231
This paper studies the influence of peopleâ€™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.
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Working Paper: Pension profile preferences: the influence of trust and expected expenses (2016)
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Persistent link: https://EconPapers.repec.org/RePEc:taf:applec:v:51:y:2019:i:12:p:1212-1231
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