Current Identifiable Biases in Italian Occupational Pension Fund Enrolment Decisions: Default Bias and Extremeness Aversion

2013 ◽  
Author(s):  
Andrea Lippi
Keyword(s):  
Pension Fund ◽  
Occupational Pension ◽  
Extremeness Aversion

scholarly journals Pension and retirement intentions as determinants of employee engagement and productivity

2021 ◽  
pp. 1601-1606
Author(s):  
Nur Hasan Kurniawan ◽  
Mahmuddin Yasin ◽  
Hamidah Hamidah
Keyword(s):  
Employee Engagement ◽  
Human Resource ◽  
Financial Management ◽  
Pension Fund ◽  
Sampling Technique ◽  
Pension Funds ◽  
Pension Scheme ◽  
Research Approach ◽  
Occupational Pension ◽  
Retirement Intentions

The issue of pension funds is not only a financial matter, but also a human resource. Pension funds do not stand alone, but are assumed to be related to other human resource (HR) variables. Starting from this background, this study aims to examine the effect of the occupational pension scheme (OPS) and retirement intentions (RI) variables partially on employee productivity (EP) directly or through employee engagement (EE), the effect of OPS on RI, and the effect of OPS on EP through RI. Post-positivist is the research paradigm, with a quantitative research approach, with explanatory causal types and statistical studies. Dapenma-Pamsi is selected as the location of this research and we choose the Joint Pension Fund of municipal waterwork which are located in six provinces in Java Island. The sampling technique for this study was proportionate stratified random sampling, with a total sample of 500 active Dapenma-Pamsi participants in six provinces in Java. The research instrument was a questionnaire with a Likert scale of 1-7. The data analysis technique used SEM-AMOS. The results of the study are supported by ten research hypotheses. The novelty of this research is the integration of variables rooted in the discipline of financial management and variables from the discipline of human resource management. This research is also could help Indonesia Government foster the growth of Private Pension Fund Program in Indonesia.

scholarly journals Default bias or no default bias? evidence from decisions regarding occupational pension fund enrollment in Italy

2013 ◽  
Vol 2 (3) ◽  
pp. 117-127
Author(s):  
Andrea Lippi
Keyword(s):  
Pension Fund ◽  
Pension Funds ◽  
Status Quo ◽  
Occupational Pension ◽  
Default Option ◽  
Factors Influencing ◽  
The Status

If forced to choose a supplementary pension fund, people will decide not to decide, accepting decisions made for them by others (default bias), reaching a status quo position. This study analyses whether the status quo position achieved via the default option in Italian occupational pension funds is later changed over the period studied (2007-2011), and the factors influencing any change.

scholarly journals Framing and the annuitization decision – Experimental evidence from a Dutch pension fund

2017 ◽  
Vol 17 (3) ◽  
pp. 385-417 ◽  
Author(s):  
CHRISTIAN BOCKWEG ◽  
EDUARD PONDS ◽  
ONNO STEENBEEK ◽  
JOYCE VONKEN
Keyword(s):  
Time Preference ◽  
Pension Fund ◽  
Institutional Environment ◽  
Pension Plan ◽  
Framing Effects ◽  
Individual Characteristics ◽  
Occupational Pension ◽  
Lump Sum ◽  
Robust Evidence

AbstractWe report the effects of framing settings in annuity demand after conducting a survey-based experiment with members of a Dutch occupational pension plan. We gave participants the option to allocate up to 20% of their projected pension accrual to a lump sum. In particular, we investigated the joint effects of consumption and investment frames and gain and loss frames. We present strong evidence for framing effects in annuity demand. Framing effects remain significant when we control for individual characteristics. We also find robust evidence of individual characteristics influencing annuity demand, highlighting the importance of heterogeneity among participants, for example risk aversion, time preference and trust in the pension fund. Gender and long-term debt positions have significant impact how one responds to framing. We conclude that Dutch plan members generally welcome the partial lump sum option over mandatory full annuitization. The application of frames appears to predictively steer annuity demand. The precise effect framing may have, would probably also depend on the institutional environment, which predefines the perspective through which individuals filter annuities.

scholarly journals Towards “Green” Trusteeship: new statutory amendments for occupational pension trustees

2019 ◽  
Author(s):  
Lloyd Brown
Keyword(s):  
Pension Fund ◽  
Pension Funds ◽  
Environmental Risks ◽  
Occupational Pension ◽  
General Duty ◽  
Social Governance ◽  
Pension Schemes ◽  
Regulatory Landscape

Abstract This article looks at the amendments to occupational pension schemes that are brought in by the Pension Protection Fund (Pensionable Service) and the Occupational Pension Schemes (Investment and Disclosure) (Amendment and Modification) Regulations 2018. It is respectfully submitted that the named regulations are legally compelling because they amend the regulatory landscape in a manner to enforce greater consideration of Environmental Social Governance risks by UK pension funds. In particular, this article engages with how the amendments are going to increase the pension fund trustees’ appetite to consider environmental risks (including climate-related risks) when exercising their general duty of investment.

scholarly journals Trustees and pension schemes in Ireland

2014 ◽  
Vol 22 (1) ◽  
pp. 2-14 ◽  
Author(s):  
Jim Stewart ◽  
Bridget McNally
Keyword(s):  
Pension Fund ◽  
Good Governance ◽  
Secondary Data ◽  
Pension Scheme ◽  
Occupational Pension ◽  
Content Type ◽  
Pension Schemes ◽  
Pension Governance ◽  
And Performance ◽  
Practical Implications

Purpose – This article aims to highlight the gap between the legal responsibilities and the practice of pension fund trustees in Ireland. Design/methodology/approach – The paper relies on primary and secondary data analysis of trustee practice and enforcement cases to highlight the gap between law and practice. Findings – The article finds that there is an inconsistency between legal requirement and practice in the calibre of trustee and trustee training across Irish occupational pension schemes. This has adverse consequences for pension governance and performance. Practical implications – The findings raise the question as to whether there should be mandatory qualifications for trustees or mandatory standardised trustee training in a prescribed format, with which trustees should comply. It also questions whether there should be a governance code for trustees to ensure a minimum standard or target level of competence and good governance on the part of pension scheme trustees. Originality/value – There is a distinct lack of emphasis in the literature and in practice on the inconsistency between the extent of the responsibilities which trustees ultimately carry, and the legal exposure this potentially creates for trustees who unduly rely on other trustees or third parties in the trustee decision making process.

Occupational pension funds

2017 ◽  
Vol 19 (2) ◽  
pp. 158-171 ◽  
Author(s):  
Alexia Autenne
Keyword(s):  
Private Sector ◽  
Pension Fund ◽  
Pension Funds ◽  
Pension Plans ◽  
Occupational Pension ◽  
Defined Contribution ◽  
European Regulation ◽  
International Context ◽  
European Regulations ◽  
Fund Governance

This article reviews the orientation of the European regulation on pension fund governance in the international context of the OECD’s recommendations. It outlines the features judged to be essential for a sound private pension scheme’s governance. It then describes the orientation of the European regulations in this area and sets out some criticisms. The focus is on private sector ‘defined-contribution’ occupational pension plans managed by a pension fund, in light of the shared perception that the ‘governance’ issue is particularly sensitive for these types of schemes.

scholarly journals Does the Asset Manager’s Nationality Influence the Occupational Pension Fund Performance?

2016 ◽  
Vol 6 (2) ◽  
pp. 176
Author(s):  
Andrea Lippi
Keyword(s):  
Pension Fund ◽  
Fund Performance ◽  
Pension Funds ◽  
Risk Level ◽  
Occupational Pension ◽  
Management Skills ◽  
Professional Managers ◽  
Analysis Methodology ◽  
The Relationship ◽  
Asset Managers

This paper examines the relationship between asset managers’ nationality and the Italian occupational pension funds extending the existing literature on the topic. We use a double analysis methodology, targeted at single- and multiple-managers, distinguishing between Italian and/or foreign professional managers. The results obtained show how asset manager’s nationality impacts differently on managed pension funds’ performance according to the different investment line risk level, opening debate on asset managers’ management skills.

A Global Perspective on Pension Fund Asset Allocation

CFA Digest ◽  
1998 ◽  
Vol 28 (4) ◽  
pp. 45-46
Author(s):  
Charles F. Peake
Keyword(s):  
Asset Allocation ◽  
Pension Fund ◽  
Global Perspective
Sign in / Sign up

Export Citation Format

Share Document