Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/216389 
Erscheinungsjahr: 
2020
Schriftenreihe/Nr.: 
IZA Discussion Papers No. 13077
Verlag: 
Institute of Labor Economics (IZA), Bonn
Zusammenfassung: 
We show that people exposed to greater pension risk are less likely to invest in risky assets. We exploit a reform that links people's future pension benefits to their pension funds' funding ratio—a measure of the fund's financial health—making funding ratios a fund-specific measure of pension risk. The effect of pension risk is stronger for people who are better informed about their pensions, for retirees and pension-age non-retirees, and for wealthier people. The funding ratio does not affect investments in a pre-reform period, nor does it affect bequest intentions, (expected) retirement, or the motivations for saving.
Schlagwörter: 
individual portfolio choice
background risk
retirement planning
pension reform
The Netherlands
JEL: 
D14
J22
Dokumentart: 
Working Paper

Datei(en):
Datei
Größe
946.26 kB





Publikationen in EconStor sind urheberrechtlich geschützt.