The Value and Risk of Defined Contribution Pension Schemes: International Evidence
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.
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Volume (Year): 80 (2013)
Issue (Month): 1 (03)
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