Location of Repository

By 

Abstract

Mr. Antolin, Ms. Payet and Mr. Yermo are principal economist, statistical assistant and principal administrator, respectively, in the OECD Directorate for Financial and Enterprise Affairs. The authors gratefully acknowledge the financial contributions of Allianz Global Investors. Comments from Sandra Blome, Brigitta Miksa, André Laboul, Gerhard Scheuenstuhl and OECD delegates to the Working Party on Private Pensions are gratefully acknowledged. This work is published on the responsibility of the Secretary-General of the OECD. The views expressed and arguments employed herein are the sole responsibility of the authors and do not reflect those of their organisations or the governments of OECD member countries. 1 EXECUTIVE SUMMARY The design of default investment options in defined contribution (DC) pension plans is of critical policy relevance, as many members of DC plans are incapable or unwilling to choose investment strategies among the great variety offered to them. There is increasing international consensus that some type of life-cycle strategy is desirable for default options, with decreasing risk exposure as the individual ages. However, the specific allocation to risky assets (such as equities) at different ages is a matter of much debate, both in academic and policy circles. There is also an on-going debate on the relative merits of deterministic investment strategies with a fixed glide-path over the life-cycle and dynamic strategie

Year: 2011
OAI identifier: oai:CiteSeerX.psu:10.1.1.188.4940
Provided by: CiteSeerX
Download PDF:
Sorry, we are unable to provide the full text but you may find it at the following location(s):
  • http://citeseerx.ist.psu.edu/v... (external link)
  • http://www.oecd.org/dataoecd/1... (external link)
  • Suggested articles


    To submit an update or takedown request for this paper, please submit an Update/Correction/Removal Request.