JASSA: The Finsia Journal of Applied Finance, Vol. 4, Financial Services Institute of Australasia
by M. Burton Waring, Wiley
Employers around the world have discovered how expensive it is to offer defined benefit plans and are converting to defined contribution plans. But DC plans in their current form are ineffective because most people aren’t comfortable deciding how to invest their retirement savings. Employees need new and better ways to manage the risks they face when planning for retirement.
Merton, Robert C., in Developing the Potential of the Individually Funded Pension Systems, International Federation of Pension Fund Administrators, Santiago, Chile, pp. 61-76.
By Pamela Almeda, Channel NewsAsia.