Some early evidence from countries such as Sweden suggested differences in behavioural responses than in the US. This seminar will review survey and company case studies done over a four year period of decisionmaking in the UK about pensions and annuities. We will examine the response of default choices to financial education, individual decisions about annuitisation and the behavioural responses of individuals to the stock market declines in 2000-2003 as well as point out some irregularities (such as differing responses to retirement questionnaires based on whether they are done at work or at home).
Abstract Pension Decisionmaking: Lessons from the UK
There has been a tremendous amount of literature on behavioural finance issues in retirement decisionmaking in the US, with much less on other countries.