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The Value and Risk of Defined Contribution Pension Schemes: International Evidence

Author

Listed:
  • Edmund Cannon
  • Ian Tonks

Abstract

Using data on historical returns on international financial assets, the paper simulates pension fund and pension replacement ratios, building up frequency distributions of these ratios for individuals saving in a defined contribution pension plan in different countries. These frequency distributions illustrate the risk in the pension replacement ratio faced by an individual who saves in a typical defined contribution pension scheme.

Suggested Citation

  • Edmund Cannon & Ian Tonks, 2009. "The Value and Risk of Defined Contribution Pension Schemes: International Evidence," Bristol Economics Discussion Papers 09/610, School of Economics, University of Bristol, UK.
    • Handle: RePEc:bri:uobdis:09/610
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    File URL: http://www.bristol.ac.uk/efm/media/workingpapers/working_papers/pdffiles/dp09610.pdf
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    Cited by:

    1. Daniel McFadden, 2015. "Comment on "Liquidity in Retirement Savings Systems: An International Comparison"," NBER Chapters, in: Insights in the Economics of Aging, pages 75-85, National Bureau of Economic Research, Inc.
    2. Kaifala, Gabriel B. & Paisey, Catriona & Paisey, Nicholas J., 2021. "The UK pensions landscape – A critique of the role of accountants and accounting technologies in the treatment of social and societal risks," CRITICAL PERSPECTIVES ON ACCOUNTING, Elsevier, vol. 75(C).

    More about this item

    Keywords

    Risks; Defined contribution pension schemes; pension replacement ratio.;
    All these keywords.

    JEL classification:

    • E62 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Fiscal Policy; Modern Monetary Theory
    • G14 - Financial Economics - - General Financial Markets - - - Information and Market Efficiency; Event Studies; Insider Trading
    • H55 - Public Economics - - National Government Expenditures and Related Policies - - - Social Security and Public Pensions

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