Research Catalog

Title

Investment Regulations and Defined Contribution Pensions [electronic resource] / Pablo Antolín ... [et al]

Publication

Paris : OECD Publishing, 2009.

Details

Additional Authors

• Antolín, Pablo.
• Blome, Sandra.
• Karim, David.
• Payet, Stéphanie.
• Scheuenstuhl, Gerhard.
• Yermo, Juan.

Description

38 p.; 21 x 29.7cm.

Summary

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.

Series Statement

OECD Working Papers on Insurance and Private Pensions, 1993-6397 ; no.37

Uniform Title

OECD Working Papers on Insurance and Private Pensions, no.37.

Subject

Finance and Investment

LCCN

10.1787/222771401034

OCLC

oecd-lib-004115

Title

Investment Regulations and Defined Contribution Pensions [electronic resource] / Pablo Antolín ... [et al]

Imprint

Paris : OECD Publishing, 2009.

Series

OECD Working Papers on Insurance and Private Pensions, 1993-6397 ; no.37

OECD Working Papers on Insurance and Private Pensions, 1993-6397 ; no.37.

Connect to:

http://dx.doi.org/10.1787/222771401034

Indexed Term

Finance and Investment

Added Author

Antolín, Pablo.

Blome, Sandra.

Karim, David.

Payet, Stéphanie.

Scheuenstuhl, Gerhard.

Yermo, Juan.

Other Standard Identifier

10.1787/222771401034 doi