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Retirement saving and the payout phase: How to get there and how to get the most of it

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  • Ignazio Visco

Abstract

In the wake of a dramatic financial crisis and with the first waves of baby boomers approaching retirement we hardly need to think about how best to arrive at the pension funds' payout phase. This paper argues that there is an urgent need to raise retirement saving, to reduce defined contribution plan members' exposure to investment risks and to provide the financial industry with cheap and safe payout instruments. These challenges are also likely to call for a more active government role.

Suggested Citation

  • Ignazio Visco, 2009. "Retirement saving and the payout phase: How to get there and how to get the most of it," OECD Journal: Financial Market Trends, OECD Publishing, vol. 2009(1), pages 143-162.
    • Handle: RePEc:oec:dafkad:5ksgjznt6fd2
    DOI: 10.1787/fmt-v2009-art6-en
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    Cited by:

    1. Emilio Bisetti & Carlo Favero, 2014. "Measuring the Impact of Longevity Risk on Pension Systems: The Case of Italy," North American Actuarial Journal, Taylor & Francis Journals, vol. 18(1), pages 87-103.
    2. Jacob Kirkegaard, 2009. "Defined Contribution Accounts - Still an Indispensable Idea," ifo DICE Report, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 7(04), pages 16-21, January.
    3. repec:ces:ifodic:v:7:y:2009:i:4:p:14567041 is not listed on IDEAS
    4. Giuseppe Grande & Ignazio Visco, 2010. "A public guarantee of a minimum return to defined contribution pension scheme members," Temi di discussione (Economic working papers) 762, Bank of Italy, Economic Research and International Relations Area.

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