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Pension scheme defaults: questionable foundations and unconsidered outcomes
Inertia, the behaviour of doing nothing and allowing the current situation to prevail, is reported in many empirical pension studies. However, the reasons for the behaviour are not agreed. Various explanations include: ...
The impact of DC (defined contribution) scheme structure and communication policies: a bounded rationality framework
Concepts from bounded rationality, particularly biases, are frequently used to explain the successes and the failures of pension scheme defaults. This research suggests that pension literature has focused on pension ...