Addressing the Pension Decumulation Phase of Employee Retirement Planning

Bibliographic Details
Main Author: Bravo, Jorge Miguel
Publication Date: 2020
Language: eng
Source: Repositórios Científicos de Acesso Aberto de Portugal (RCAAP)
Download full: http://hdl.handle.net/10362/92496
Summary: Bravo, J. M. (2020). Addressing the Pension Decumulation Phase of Employee Retirement Planning. In I. Muenstermann (Ed.), Who Wants to Retire and Who Can Afford to Retire? (pp. 1-21). IntechOpen. https://doi.org/10.5772/intechopen.90807
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network_acronym_str RCAP
network_name_str Repositórios Científicos de Acesso Aberto de Portugal (RCAAP)
repository_id_str https://opendoar.ac.uk/repository/7160
spelling Addressing the Pension Decumulation Phase of Employee Retirement PlanningRetirement planningPensions decumulationLongevity-linked life annuityRisk-sharingIncome drawdownFinancial adviceSDG 1 - No PovertySDG 8 - Decent Work and Economic GrowthSDG 10 - Reduced InequalitiesBravo, J. M. (2020). Addressing the Pension Decumulation Phase of Employee Retirement Planning. In I. Muenstermann (Ed.), Who Wants to Retire and Who Can Afford to Retire? (pp. 1-21). IntechOpen. https://doi.org/10.5772/intechopen.90807Longevity increases and population ageing create challenges for all societal institutions, particularly those providing retirement income, healthcare, and long-term care services. At the individual level, an obvious question is how to ensure all retirees have an adequate, secure, stable, and predictable lifelong income stream that will allow them to maintain a target standard of living for, however, long the individual lives. In this chapter, we review and discuss the main pension decumulation options by explicitly modelling consumers’ behaviour and objectives though an objective function based on utility theory accounting for consumption and bequest motives and different risk preferences. Using a Monte-Carlo simulation approach calibrated to US financial market and mortality data, our results suggest that purchasing a capped participating longevity-linked life annuity at retirement including embedded longevity and financial options that allow the annuity provider to periodically revise annuity payments if observed survivorship and portfolio outcomes deviate from expected (or guaranteed) values at contract initiation deliver superior welfare results when compared with classical annuitization and non-annuitization decumulation strategies.IntechOpenNOVA Information Management School (NOVA IMS)Information Management Research Center (MagIC) - NOVA Information Management SchoolRUNBravo, Jorge Miguel2020-02-10T23:37:26Z2020-02-062020-02-06T00:00:00Zbook partinfo:eu-repo/semantics/publishedVersion21application/pdfhttp://hdl.handle.net/10362/92496eng978-1-83962-477-3PURE: 15765132https://doi.org/10.5772/intechopen.90807info:eu-repo/semantics/openAccessreponame:Repositórios Científicos de Acesso Aberto de Portugal (RCAAP)instname:FCCN, serviços digitais da FCT – Fundação para a Ciência e a Tecnologiainstacron:RCAAP2024-05-22T17:43:23Zoai:run.unl.pt:10362/92496Portal AgregadorONGhttps://www.rcaap.pt/oai/openaireinfo@rcaap.ptopendoar:https://opendoar.ac.uk/repository/71602025-05-28T17:14:43.387604Repositórios Científicos de Acesso Aberto de Portugal (RCAAP) - FCCN, serviços digitais da FCT – Fundação para a Ciência e a Tecnologiafalse
dc.title.none.fl_str_mv Addressing the Pension Decumulation Phase of Employee Retirement Planning
title Addressing the Pension Decumulation Phase of Employee Retirement Planning
spellingShingle Addressing the Pension Decumulation Phase of Employee Retirement Planning
Bravo, Jorge Miguel
Retirement planning
Pensions decumulation
Longevity-linked life annuity
Risk-sharing
Income drawdown
Financial advice
SDG 1 - No Poverty
SDG 8 - Decent Work and Economic Growth
SDG 10 - Reduced Inequalities
title_short Addressing the Pension Decumulation Phase of Employee Retirement Planning
title_full Addressing the Pension Decumulation Phase of Employee Retirement Planning
title_fullStr Addressing the Pension Decumulation Phase of Employee Retirement Planning
title_full_unstemmed Addressing the Pension Decumulation Phase of Employee Retirement Planning
title_sort Addressing the Pension Decumulation Phase of Employee Retirement Planning
author Bravo, Jorge Miguel
author_facet Bravo, Jorge Miguel
author_role author
dc.contributor.none.fl_str_mv NOVA Information Management School (NOVA IMS)
Information Management Research Center (MagIC) - NOVA Information Management School
RUN
dc.contributor.author.fl_str_mv Bravo, Jorge Miguel
dc.subject.por.fl_str_mv Retirement planning
Pensions decumulation
Longevity-linked life annuity
Risk-sharing
Income drawdown
Financial advice
SDG 1 - No Poverty
SDG 8 - Decent Work and Economic Growth
SDG 10 - Reduced Inequalities
topic Retirement planning
Pensions decumulation
Longevity-linked life annuity
Risk-sharing
Income drawdown
Financial advice
SDG 1 - No Poverty
SDG 8 - Decent Work and Economic Growth
SDG 10 - Reduced Inequalities
description Bravo, J. M. (2020). Addressing the Pension Decumulation Phase of Employee Retirement Planning. In I. Muenstermann (Ed.), Who Wants to Retire and Who Can Afford to Retire? (pp. 1-21). IntechOpen. https://doi.org/10.5772/intechopen.90807
publishDate 2020
dc.date.none.fl_str_mv 2020-02-10T23:37:26Z
2020-02-06
2020-02-06T00:00:00Z
dc.type.driver.fl_str_mv book part
dc.type.status.fl_str_mv info:eu-repo/semantics/publishedVersion
status_str publishedVersion
dc.identifier.uri.fl_str_mv http://hdl.handle.net/10362/92496
url http://hdl.handle.net/10362/92496
dc.language.iso.fl_str_mv eng
language eng
dc.relation.none.fl_str_mv 978-1-83962-477-3
PURE: 15765132
https://doi.org/10.5772/intechopen.90807
dc.rights.driver.fl_str_mv info:eu-repo/semantics/openAccess
eu_rights_str_mv openAccess
dc.format.none.fl_str_mv 21
application/pdf
dc.publisher.none.fl_str_mv IntechOpen
publisher.none.fl_str_mv IntechOpen
dc.source.none.fl_str_mv reponame:Repositórios Científicos de Acesso Aberto de Portugal (RCAAP)
instname:FCCN, serviços digitais da FCT – Fundação para a Ciência e a Tecnologia
instacron:RCAAP
instname_str FCCN, serviços digitais da FCT – Fundação para a Ciência e a Tecnologia
instacron_str RCAAP
institution RCAAP
reponame_str Repositórios Científicos de Acesso Aberto de Portugal (RCAAP)
collection Repositórios Científicos de Acesso Aberto de Portugal (RCAAP)
repository.name.fl_str_mv Repositórios Científicos de Acesso Aberto de Portugal (RCAAP) - FCCN, serviços digitais da FCT – Fundação para a Ciência e a Tecnologia
repository.mail.fl_str_mv info@rcaap.pt
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