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Investment strategies in retirement: in the presence of a means-tested government pension

Butt, Adam; Deng, Ziyong


A simulation approach is used to investigate how various investment strategies affect the ability of retirees to spend at a desired level up until death. Retirees are assumed to maintain all investment and longevity risk, and also have access to a government-sponsored and means-tested Age Pension to provide part of their desired expenditure. It is found that a 100% allocation to growth assets is optimal for large expenditure desires relative to initial balance levels, with allocations outside...[Show more]

CollectionsANU Research Publications
Date published: 2012
Type: Journal article
Source: Journal of Pension Economics and Finance
DOI: 10.1017/S1474747211000291


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