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Makings Savings Last During Retirement:
Lessons From Behavioral Economics
American Council for Capital Formation
By Dr. Pinar Cebi Wilber
August 2007
(PDF)
INTRODUCTION
Since the early 1990s a number of factors have accelerated the pace of
change in the global retirement landscape: growth in aging populations;
Social Security systems under strain; inadequate financial preparation
for retirement by many workers; exponentially increasing health care costs;
and the continuous shift from defined benefit (DB) to defined contribution
(DC) retirement plans. In recent years, many countries have undertaken
pension reform initiatives that have focused on individual choice and
self reliance in retirement planning. With these reforms has come a desire
for a complete understanding of decision making and the role of behavioral
economics in the preparation and execution of a sound retirement.
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