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Recreating Sustainable RetirementResilience, Solvency, and Tail Risk$
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Olivia S. Mitchell, Raimond Maurer, and P.Brett Hammond

Print publication date: 2014

Print ISBN-13: 9780198719243

Published to Oxford Scholarship Online: December 2014

DOI: 10.1093/acprof:oso/9780198719243.001.0001

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PRINTED FROM OXFORD SCHOLARSHIP ONLINE (oxford.universitypressscholarship.com). (c) Copyright Oxford University Press, 2020. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in OSO for personal use. date: 03 December 2020

Extreme Risks and the Retirement Anomaly

Extreme Risks and the Retirement Anomaly

(p.215) Chapter 11 Extreme Risks and the Retirement Anomaly
Recreating Sustainable Retirement

Tim Hodgson

Oxford University Press

This chapter examines a number of extreme risks facing pension systems. The focus is more on non-economic risks, since these have tended to receive less attention than the more obvious financial and economic risks. However, there is one economic risk that the chapter suggests is not getting enough attention, namely, whether it is possible for society to provide the sort of retirement to which its citizens aspire. The current consensus, among practitioners if not the general population, is that it is necessary for people to save more for their retirement, unless they are willing to work until they are very old.

Keywords:   Risk diversification, extreme events, VaR analysis, pension risk, retirement saving

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