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How Persistent Low Returns Will Shape Saving and Retirement$
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Olivia S. Mitchell, Robert Clark, and Raimond Maurer

Print publication date: 2018

Print ISBN-13: 9780198827443

Published to Oxford Scholarship Online: October 2018

DOI: 10.1093/oso/9780198827443.001.0001

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PRINTED FROM OXFORD SCHOLARSHIP ONLINE (oxford.universitypressscholarship.com). (c) Copyright Oxford University Press, 2021. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in OSO for personal use. date: 24 June 2021

How Persistent Low Returns Will Shape Saving and Retirement

How Persistent Low Returns Will Shape Saving and Retirement

Chapter:
(p.1) Chapter 1 How Persistent Low Returns Will Shape Saving and Retirement
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How Persistent Low Returns Will Shape Saving and Retirement
Author(s):

Robert Clark

Raimond Maurer

Olivia S. Mitchell

Publisher:
Oxford University Press
DOI:10.1093/oso/9780198827443.003.0001

Financial market developments over the past decade have undermined what was once thought to be conventional wisdom about saving, investment, and retirement spending. Foremost among these is the depressingly persistent and extended period of low capital market returns, driving concerns about how to rethink saving and investments in what can be called the ‘new normal.’ This chapter introduces the themes of the book: how we arrived at our current state of affairs and what changes need to be made to achieve adequate retirement incomes for future retirees, and exploring new designs for pension plan sponsors. With increasing life expectancy adding to the problem of low market returns, the chapter urges policymakers to start reforming now to ensure retirement financial security.

Keywords:   retirement, pension plan, retirement saving, portfolio management, defined benefit plan, defined contribution plan

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