Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/274739 
Authors: 
Year of Publication: 
2022
Citation: 
[Journal:] Journal of Risk and Financial Management [ISSN:] 1911-8074 [Volume:] 15 [Issue:] 5 [Article No.:] 217 [Year:] 2022 [Pages:] 1-17
Publisher: 
MDPI, Basel
Abstract: 
Many people find it difficult to start and maintain a retirement savings plan. We show how nudges can be used both to encourage people to save enough to provide an acceptable standard of living in retirement and to draw down their accumulated pension fund to maximize retirement spending, without the risk of either running out of money or leaving unintended bequests. Networks can help too, particularly employer-based networks. However, the nudges and networks are more likely to be effective if they have legislative backing and support.
Subjects: 
behavioural economics
life cycle savings-consumption
networks
nudges
Save More Tomorrow (SMART) plans
Spend Optimally Throughout Retirement (SPEEDOMETER) plans
Persistent Identifier of the first edition: 
Creative Commons License: 
cc-by Logo
Document Type: 
Article

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