Reinventing the Retirement Paradigm
Robert L. Clark and Olivia S. Mitchell
Abstract
This book explores how rising pension and healthcare costs, along with workforce aging, are affecting pension and retirement planning around the world. Many middle-aged workers now realize that they will have to work longer than intended, as they begin to recognize that their retirement resources will not be inadequate to finance retirement consumption. Volatile capital markets, rising medical-care costs, and low saving rates make retirement behaviour and policy a moving target. This book explores these themes, touching on a diverse set of issues ranging from employment trends to pension accou ... More
This book explores how rising pension and healthcare costs, along with workforce aging, are affecting pension and retirement planning around the world. Many middle-aged workers now realize that they will have to work longer than intended, as they begin to recognize that their retirement resources will not be inadequate to finance retirement consumption. Volatile capital markets, rising medical-care costs, and low saving rates make retirement behaviour and policy a moving target. This book explores these themes, touching on a diverse set of issues ranging from employment trends to pension accounting and investment, to retirement system overhaul. It illustrates how employers are actively reformulating the meaning of work and retirement, seeking to encourage more people to work longer than ever before in the face of projected labour shortages. At the same time, public and private trust in traditional pension offerings is rapidly eroding, as companies alter, amend, and terminate their conventional plans in the face of poor investment performance and new methods of pension accounting.
Keywords:
pension costs,
healthcare costs,
aging workforce,
retirement consumption,
saving rates,
employment trends,
pension accounting
Bibliographic Information
| Print publication date: 2005 |
Print ISBN-13: 9780199284603 |
| Published to Oxford Scholarship Online: February 2006 |
DOI:10.1093/0199284601.001.0001 |
Authors
Affiliations are at time of print publication.
Robert L. Clark, editor
Professor of Business Management and Economics, North Carolina State University
Author Webpage
Olivia S. Mitchell, editor
International Foundation of Employee Benefit Plans Professor of Insurance and Risk Management, the Executive Director of the Pension Research Council, and the Director of the Boettner Center on Pensions and Retirement Research at the Wharton School
Author Webpage
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