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Investing and Portfolio Allocation for Retirement

In: Handbook of the Economics of Population Aging

Author

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  • Kaschützke, B.
  • Maurer, R.

Abstract

The demographic situation in the majority of industrialized countries calls for the increasing participation in funded retirement programs, should the prospective retirees desire to maintain their habitual standard of living in retirement. This poses new challenges for both prospective retirees and policymakers and reveals the need for easily accessible information on the subject. The goal of this chapter is to supply such essential knowledge by summarizing various important facts and research findings about investing and portfolio allocation for retirement. This chapter describes the main risks, assets, and investment products that are relevant for retirement saving, and the main research related to portfolio choice over the lifecycle and annuities. The composition of the retirement portfolio during the working life and use of funds in retirement are examined in light of the lifecycle research. This chapter provides an overview of the literature and exemplifies the research results.

Suggested Citation

  • Kaschützke, B. & Maurer, R., 2016. "Investing and Portfolio Allocation for Retirement," Handbook of the Economics of Population Aging, in: Piggott, John & Woodland, Alan (ed.), Handbook of the Economics of Population Aging, edition 1, volume 1, chapter 0, pages 567-608, Elsevier.
    • Handle: RePEc:eee:hapoch:v1_567
    DOI: 10.1016/bs.hespa.2016.09.007
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    More about this item

    Keywords

    Retirement; Investing; Portfolio allocation; Investment decisions; Pension regulation; Annuitization; G11 Portfolio Choice; Investment Decisions; G22 Insurance; Insurance Companies; G23 Nonbank Financial Institutions; Financial Instruments; Institutional Investors; G28 Government Policy and Regulation; H24 Personal Income and Other Nonbusiness Taxes and Subsidies; H55 Social Security and Public Pensions;
    All these keywords.

    JEL classification:

    • G11 - Financial Economics - - General Financial Markets - - - Portfolio Choice; Investment Decisions
    • G22 - Financial Economics - - Financial Institutions and Services - - - Insurance; Insurance Companies; Actuarial Studies
    • G23 - Financial Economics - - Financial Institutions and Services - - - Non-bank Financial Institutions; Financial Instruments; Institutional Investors
    • G28 - Financial Economics - - Financial Institutions and Services - - - Government Policy and Regulation
    • H24 - Public Economics - - Taxation, Subsidies, and Revenue - - - Personal Income and Other Nonbusiness Taxes and Subsidies
    • H55 - Public Economics - - National Government Expenditures and Related Policies - - - Social Security and Public Pensions

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