Estimating pension wealth of ELSA respondents
This paper explains the methodology used for calculating pension wealth for all individuals in the first wave of the English Longitudinal Study of Ageing (ELSA). We focus on the pension wealth of individuals aged between 50 and the state pension age. Both state and private pension wealth has been calculated and each has been calculated both on the basis of immediate retirement in 2002 and on the basis of retirement at the state pension age. Sensitivity analysis of our assumptions is also presented, which shows that the distribution of pension wealth is sensitive to our assumptions about the discount rate and contracting out histories but insensitive to assumptions about future earnings growth, future annuity rates and future asset returns.
|Date of creation:||17 May 2005|
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- Richard Disney & Carl Emmerson & Matthew Wakefield, "undated".
"Pension Provision and Retirement Saving: Lessons from the United Kingdom,"
07/01, University of Nottingham, Centre for Finance, Credit and Macroeconomics (CFCM).
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- Feldstein, Martin & Liebman, Jeffrey B., 2002.
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in: A. J. Auerbach & M. Feldstein (ed.), Handbook of Public Economics, edition 1, volume 4, chapter 32, pages 2245-2324
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- Richard Blundell & Costas Meghir & Sarah Smith, 2002. "Pension Incentives and the Pattern of Early Retirement," Economic Journal, Royal Economic Society, vol. 112(478), pages 153-170, March.
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