Tuesday, December 04, 2012

Pensions Autoenrolment

I'm using this post to keep track of articles relevant to the pension auto-enrolments in UK and Ireland. I will update during the year.

November 2012 

"Advisers need to take auto-enrolment bull by the horns" FTAdviser

"Lords warn auto-enrolment will hit small-pot savers" FTAdviser

"Pensions are still too complex, DWP says" Telegraph

"Workers may be forced to save for retirement" Telegraph

October 2012:

"Pension auto-enrolment 'open to mis-selling'" BBC

"Investment choices after pension auto-enrolment" BBC

"Q&A: Pension automatic enrolment" BBC (h/t Bernardo)

References:


Banks, James & Blundell, Richard & Tanner, Sarah, 1998. "Is There a Retirement-Savings Puzzle?," American Economic Review, American Economic Association, vol. 88(4), pages 769-88, September.

Bernartzi, Shlomo, and Thaler, Richard H., (2007) “Heuristics and Biases in Retirement Savings Behavior” Journal of Economic Perspectives 21 (3), (2007): 81-104.

Benartzi, Shlomo and Richard H. Thaler, “How Much is Investor Autonomy Worth?,” The Journal of Finance, 2002, 57 (4), 1593-1616

Benartzi, Shlomo and Richard H. Thaler, “Save More Tomorrow (TM): Using Behavioral Economics to Increase Employee Saving,” Journal of Political Economy, 2004, 112 (S1), S164-S187.

Beshears, John, James Choi, David Laibson, and Brigitte Madrian, “The Importance of Default Options for Retirement Saving Outcomes: Evidence from the United States,” Yale University, 2007.

Beshears, John, James Choi, David Laibson, Brigitte Madrian, and Brian Weller, “Public Policy and Saving for Retirement: The “Autosave” Features of the Pension Protection Act of 2006,” Harvard University Working Paper, 2008.

Carroll, Gabriel D., James Choi, David Laibson, Brigitte Madrian, and Andrew Metrick, “Optimal Defaults and Active Decisions,” Quarterly Journal of Economics, 2009, 124 (4), 1639-1674.

Choi, James, David Laibson, Brigitte Madrian, and Andrew Metrick, 2001(a) “For Better or For Worse: Default Effects and 401(k) Savings Behavior,” National Bureau of Economic Research Working Paper: 8651.  

Choi, James, David Laibson, Brigitte Madrian, and Andrew Metrick, , 2001(b).  “Defined Contribution Pensions: Plan Rules, Participant Decisions, and the Path of Least Resistance,” National Bureau of Economic Research Working Paper: 8655.

Choi, James, David Laibson, and Brigitte Madrian, (2011) "$100 Bills on the Sidewalk: Suboptimal Investment in 401(k) Plans," The Review of Economics and Statistics, MIT Press, vol. 93(3), pages 748-763, August.

Choi, James, David Laibson, and Brigitte Madrian, (2006) “Reducing the Complexity Costs of 401(k) Participation Through Quick Enrollment (TM),”, NBER Working Paper: 11979.

Cronqvist, Henrik and Richard H. Thaler, “Design Choices in Privatized Social-Security Systems: Learning from the Swedish Experience,” American Economic Review, 2004, 94 (2), 424-428.

Department of Social and Family Affairs, (2007). Green Paper on Pensions. Dublin: Stationery Office.

Department of Social Protection (2010), National Pensions Framework, Dublin, 2010.

Johnson, P., Yeandle, D., Boulding, A., (2010). “Making automatic enrolment work: A review for the Department for Work and Pensions”. Department of Work and Pensions.

KiwiSaver Annual Reports:

KiwiSaver Statistics:

Law, D., Meehan, L., and Scobie, G., (2011).  “KiwiSaver: An Initial Evaluation of the Impact on Retirement Saving”. New Zealand Treasury Working Paper, 11/04.

Madrian, Brigitte C. and Dennis F. Shea, “The Power of Suggestion: Inertia in 401(k) Participation and Savings Behavior,” Quarterly Journal of Economics, 2001, 116 (4), 1149-1187.

McHale, J. (2005), “Perspectives on Retirement Savings Policies in Ireland,” in Budget Perspectives 2006, Tim Callan and Aedin Doris, editors, Economic and Social Research Institute, Dublin.

National Pensions Board (1998): “Securing Retirement Income”. National Pensions Policy Initiative.

Sunstein, C., and Thaler, R. (2003). "Libertarian Paternalism," American Economic  Review 93(2), pp. 175-79

Sunstein, Cass; Thaler, Richard (2008). Nudge: Improving Decisions about Health, Wealth, and Happiness. Yale University Press.

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