Tag: retirement planning
Abstract This paper explores the relationship between expectations about retirement, realizations of retirement, and the role of health shocks. Using waves 1 through 4 of the Health and Retirement Study we follow people into retirement. We explore the factors that affect changes to plans that were made in wave 1 paying special attention to changes…
Abstract This paper describes the role of adverse selection in annuity markets, and sketches some of the public policy implications of the existence of such selection effects. It shows that a substantial fraction of the difference between the expected value of the payouts on both voluntary and compulsory annuity products in the U.K., and t…