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The Value and Risk of Defined Contribution Pension Schemes: International Evidence

Xfi Working Paper No. 09/03

39 Pages Posted: 4 Aug 2009

See all articles by E. S. Cannon

E. S. Cannon

University of Bristol - Department of Economics

Ian Tonks

University of Bristol - Department of Finance and Accounting

Multiple version iconThere are 2 versions of this paper

Date Written: July 2009

Abstract

Using data on historical returns on international financial assets, the paper simulates pension fund and pension replacement ratios, building up frequency distributions of these ratios for individuals saving in a defined contribution pension plan in different countries. These frequency distributions illustrate the risk in the pension replacement ratio faced by an individual who saves in a typical defined contribution pension scheme.

Keywords: Risks, Defined contribution pension schemes, pension replacement ratio

JEL Classification: E62, G14, H55

Suggested Citation

Cannon, Edmund Stuart and Tonks, Ian, The Value and Risk of Defined Contribution Pension Schemes: International Evidence (July 2009). Xfi Working Paper No. 09/03, Available at SSRN: https://ssrn.com/abstract=1443785 or http://dx.doi.org/10.2139/ssrn.1443785

Edmund Stuart Cannon

University of Bristol - Department of Economics ( email )

Senate House
Tyndall Avenue
Bristol BS8 ITH
United Kingdom

Ian Tonks (Contact Author)

University of Bristol - Department of Finance and Accounting ( email )

Department of Finance and Accounting
15-19 Tyndalls Park Road
Bristol, BS8 1PQ
United Kingdom

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