Business, Management and Accounting
8 years ago

Retirement security at risk as defined benefit pensions disappear.

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Oxford University Press eBooks
Financial Literacy: Implications for Retirement Security and the Financial Marketplace
Olivia S. Mitchell, Annamaria Lusardi

Paper Summary

The article discusses how retirement decisions have become more complex due to changes in pension schemes. Traditional pensions have been replaced by defined contribution pensions, shifting the responsibility of saving and investing from employers to individuals. This shift has led to individuals needing to make more sophisticated financial decisions for their retirement.

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