haku: @author Bütler, M. / yhteensä: 2
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| Tekijä: | Bütler, M. Teppa, F. |
| Otsikko: | The choice between an annuity and a lump sum: Results from Swiss pension funds |
| Lehti: | Journal of Public Economics
2007 : NOV, VOL. 91:10, p. 1944-1966 |
| Asiasana: | pensions retirement Switzerland |
| Vapaa asiasana: | annuity |
| Kieli: | eng |
| Tiivistelmä: | This article examines the annuitization decision at retirement by using data from Swiss employer-based pensions plans. The data enables to study real choises over large retirement balances rather than subjectively reported intentions to annuitize, which distinguishes this analysis from other studies. The results show a strong and robust impact of a utility-based measure of the annuity's value on individual annuitization rates. In addition, low accumulation of retirement assets is found to be related to the choice of the lump sum, and the sponsor's default option is found to influence strongly on the decision to annuitize. |
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