Investment strategies in retirement: in the presence of a means-tested government pension
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]
|Collections||ANU Research Publications|
|Source:||Journal of Pension Economics and Finance|
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