Personal pension plans and stockmarket volatility

Personal pension plans transfer investment risk to participating workers and expose them to the volatility of financial returns. Simple financial strategies lower the volatility of replacement rates but at a significant cost in terms of lower replacement rates. The purchase of valuable annuities red...

Full description

Main Author: Alier, Max
Corporate Author: World Bank Development Research Group
Other Authors: Vittas, Dimitri
Format: eBook
Language:English
Published: Washington, DC World Bank, Development Research Group, Finance 2000, [2000]
Series:Policy research working paper
Subjects:
Online Access:
Collection: World Bank E-Library Archive - Collection details see MPG.ReNa
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653 |a Annuities 
653 |a Pension trusts / Investments 
653 |a Rate of return 
653 |a Risk 
653 |a Stocks / Prices 
700 1 |a Vittas, Dimitri 
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520 |a Personal pension plans transfer investment risk to participating workers and expose them to the volatility of financial returns. Simple financial strategies lower the volatility of replacement rates but at a significant cost in terms of lower replacement rates. The purchase of valuable annuities reduces the dispersion of replacement rates across generations without lowering their level