Personal pension plans and stockmarket volatility
By: Max Alier and Dimitri Vittas.
Contributors: Vittas, Dimitri.; World Bank. Development Research Group. Finance.
Series: Policy research working paper ;; 2463; Policy research working papers (Online) ;; 2463.
Publisher: World Bank, Development Research Group, Finance
Published: 2000
Place of publication: Washington, DC
Language: eng
Format: Electronic resource
Subjects: Pension trusts -- Investments.; Stocks -- Prices.; Rate of return.; Annuities.; Risk.
Description: Personal pension plans transfer investment risk to participating workers and expose them to the volatility of financial returns. Simple financial strategies lower the volatility of replacement rates but at a significant cost in terms of lower replacement rates. The purchase of valuable annuities reduces the dispersion of replacement rates across generations without lowering their level.
Notes: Includes bibliographical references (p. 50-51).
Title from title screen as viewed on Oct. 05, 2002.
"October 2000"--Cover.
Also available in print.
Mode of access: World Wide Web.