Investment Regulations and Defined Contribution Pensions:
This paper assesses the impact of different quantitative approaches to regulate investment risk on the retirement income stemming from defined contribution (DC) pension plans. It looks at how such regulations affect the spectrum of investment policies available and, through this channel, how they af...
Gespeichert in:
| 1. Verfasser: | |
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| Weitere Verfasser: | , , , , |
| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
Paris
OECD Publishing
2009
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| Schriftenreihe: | OECD Working Papers on Insurance and Private Pensions
no.37 |
| Schlagworte: | |
| Online-Zugang: | Volltext |
| Zusammenfassung: | This paper assesses the impact of different quantitative approaches to regulate investment risk on the retirement income stemming from defined contribution (DC) pension plans. It looks at how such regulations affect the spectrum of investment policies available and, through this channel, how they affect the retirement income that an individual may expect from a DC pension plan. The analysis shows that there is a trade-off between potential retirement income and protection from bad outcomes. Reducing the downside risk on retirement income from DC pension plans requires moving into relatively conservative investment policies where the share of assets allocated to bonds may be quite large. However, this comes at the cost of renouncing potentially higher replacement rates that are attainable but at a higher risk of unfavourable retirement income outcomes. Less risk adverse regulators and supervisors would aim at lower probability requirements as regard the downside risk, which will increase the range of investment policies available and thus the share of riskier assets. |
| Beschreibung: | 1 Online-Ressource (37 p.) 21 x 29.7cm. |
| DOI: | 10.1787/222771401034 |
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| spelling | Antolín, Pablo VerfasserIn aut Investment Regulations and Defined Contribution Pensions Pablo, Antolín ... [et al] = Réglementations en matière d'investissements et retraites à cotisations définies / Pablo, Antolín ... [et al] Réglementations en matière d'investissements et retraites à cotisations définies Paris OECD Publishing 2009 1 Online-Ressource (37 p.) 21 x 29.7cm. Text txt rdacontent Computermedien c rdamedia Online-Ressource cr rdacarrier OECD Working Papers on Insurance and Private Pensions no.37 This paper assesses the impact of different quantitative approaches to regulate investment risk on the retirement income stemming from defined contribution (DC) pension plans. It looks at how such regulations affect the spectrum of investment policies available and, through this channel, how they affect the retirement income that an individual may expect from a DC pension plan. The analysis shows that there is a trade-off between potential retirement income and protection from bad outcomes. Reducing the downside risk on retirement income from DC pension plans requires moving into relatively conservative investment policies where the share of assets allocated to bonds may be quite large. However, this comes at the cost of renouncing potentially higher replacement rates that are attainable but at a higher risk of unfavourable retirement income outcomes. Less risk adverse regulators and supervisors would aim at lower probability requirements as regard the downside risk, which will increase the range of investment policies available and thus the share of riskier assets. Finance and Investment Blome, Sandra MitwirkendeR ctb Karim, David MitwirkendeR ctb Payet, Stéphanie MitwirkendeR ctb Scheuenstuhl, Gerhard MitwirkendeR ctb Yermo, Juan MitwirkendeR ctb FWS01 ZDB-13-SOC FWS_PDA_SOC https://doi.org/10.1787/222771401034 Volltext |
| spellingShingle | Antolín, Pablo Investment Regulations and Defined Contribution Pensions Finance and Investment |
| title | Investment Regulations and Defined Contribution Pensions |
| title_alt | Réglementations en matière d'investissements et retraites à cotisations définies |
| title_auth | Investment Regulations and Defined Contribution Pensions |
| title_exact_search | Investment Regulations and Defined Contribution Pensions |
| title_full | Investment Regulations and Defined Contribution Pensions Pablo, Antolín ... [et al] = Réglementations en matière d'investissements et retraites à cotisations définies / Pablo, Antolín ... [et al] |
| title_fullStr | Investment Regulations and Defined Contribution Pensions Pablo, Antolín ... [et al] = Réglementations en matière d'investissements et retraites à cotisations définies / Pablo, Antolín ... [et al] |
| title_full_unstemmed | Investment Regulations and Defined Contribution Pensions Pablo, Antolín ... [et al] = Réglementations en matière d'investissements et retraites à cotisations définies / Pablo, Antolín ... [et al] |
| title_short | Investment Regulations and Defined Contribution Pensions |
| title_sort | investment regulations and defined contribution pensions |
| topic | Finance and Investment |
| topic_facet | Finance and Investment |
| url | https://doi.org/10.1787/222771401034 |
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