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Financing old age dependency

Research output: Contribution to Journal/Magazine › Journal article › peer-review

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Financing old age dependency. / Nishiyama, Shinichi; Smetters, Kent.
In: Annual Review of Economics, Vol. 6, 08.2014, p. 53-76.

Research output: Contribution to Journal/Magazine › Journal article › peer-review

Harvard

Nishiyama, S & Smetters, K 2014, 'Financing old age dependency', Annual Review of Economics, vol. 6, pp. 53-76. https://doi.org/10.1146/annurev-economics-080213-041304

APA

Nishiyama, S., & Smetters, K. (2014). Financing old age dependency. Annual Review of Economics, 6, 53-76. https://doi.org/10.1146/annurev-economics-080213-041304

Vancouver

Nishiyama S, Smetters K. Financing old age dependency. Annual Review of Economics. 2014 Aug;6:53-76. doi: 10.1146/annurev-economics-080213-041304

Author

Nishiyama, Shinichi ; Smetters, Kent. / Financing old age dependency. In: Annual Review of Economics. 2014 ; Vol. 6. pp. 53-76.

Bibtex

@article{8a916f4270714b308ff4643e02040d3c,
title = "Financing old age dependency",
abstract = "Baby boomers are now retiring in large numbers, and most do not have enough assets of their own to finance retirement. Social insurance programs help baby boomers afford retirement, but these programs are substantially underfunded. Reforming these institutions earlier will produce fewer distortions than continued delays. Several options also exist for helping households prepare for their own retirement: improving financial literacy, more opt-out defaults, better guidance about the value of delaying retirement, better guidance about delaying the claiming of social security benefits, improved estimation of out-of-pocket medical costs, and understanding the incentives facing their financial advisors. Some of these options are likely to be more effective than others.",
keywords = "baby boomers , aging, retirement, social security, household saving, opt-out automation, financial advice",
author = "Shinichi Nishiyama and Kent Smetters",
year = "2014",
month = aug,
doi = "10.1146/annurev-economics-080213-041304",
language = "English",
volume = "6",
pages = "53--76",
journal = "Annual Review of Economics",
issn = "1941-1383",
publisher = "Annual Reviews Inc.",

}

RIS

TY - JOUR

T1 - Financing old age dependency

AU - Nishiyama, Shinichi

AU - Smetters, Kent

PY - 2014/8

Y1 - 2014/8

N2 - Baby boomers are now retiring in large numbers, and most do not have enough assets of their own to finance retirement. Social insurance programs help baby boomers afford retirement, but these programs are substantially underfunded. Reforming these institutions earlier will produce fewer distortions than continued delays. Several options also exist for helping households prepare for their own retirement: improving financial literacy, more opt-out defaults, better guidance about the value of delaying retirement, better guidance about delaying the claiming of social security benefits, improved estimation of out-of-pocket medical costs, and understanding the incentives facing their financial advisors. Some of these options are likely to be more effective than others.

AB - Baby boomers are now retiring in large numbers, and most do not have enough assets of their own to finance retirement. Social insurance programs help baby boomers afford retirement, but these programs are substantially underfunded. Reforming these institutions earlier will produce fewer distortions than continued delays. Several options also exist for helping households prepare for their own retirement: improving financial literacy, more opt-out defaults, better guidance about the value of delaying retirement, better guidance about delaying the claiming of social security benefits, improved estimation of out-of-pocket medical costs, and understanding the incentives facing their financial advisors. Some of these options are likely to be more effective than others.

KW - baby boomers

KW - aging

KW - retirement

KW - social security

KW - household saving

KW - opt-out automation

KW - financial advice

U2 - 10.1146/annurev-economics-080213-041304

DO - 10.1146/annurev-economics-080213-041304

M3 - Journal article

VL - 6

SP - 53

EP - 76

JO - Annual Review of Economics

JF - Annual Review of Economics

SN - 1941-1383

ER -