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Investment decision making in defined contribution pension plans

Byrne, Alistair (2004) Investment decision making in defined contribution pension plans. Pensions: An International Journal, 10 (1). pp. 37-49. ISSN 1478-5315

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Abstract

In recent years there has been a significant shift in pension provision in the USA and the UK from the situation where employers offer defined benefit pensions to employees, to a 'self-directed' defined contribution basis where the individual employee bears the risk that the pension contributions - and the investment returns they earn - will be sufficient to fund a comfortable retirement. This paper discusses some of the behavioural economics research relevant to assessing how well placed most employees are to deal with this greater responsibility. It also discusses some of the suggestions that have been made for using these behavioural findings to improve the design of defined contribution pension plans.

Item type: Article
ID code: 5547
Keywords: defined contribution pensions, behavioural economics, investment education, Commerce, Finance, Organizational Behavior and Human Resource Management, Economics and Econometrics
Subjects: Social Sciences > Commerce
Department: Strathclyde Business School > Accounting and Finance
Related URLs:
    Depositing user: Strathprints Administrator
    Date Deposited: 02 Mar 2008
    Last modified: 04 Sep 2014 16:16
    URI: http://strathprints.strath.ac.uk/id/eprint/5547

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