The Oxford Handbook of Pensions and Retirement Income Oxford Handbooks Series

The Oxford Handbook of Pensions and Retirement Income is the only comprehensive review available of the latest research, policy-related tools, analytical methods and techniques, and major theoretical frameworks and principles of pension and retirement income. Featuring over forty contributions from leading academic and professional experts, the handbook draws on research from a range of academic disciplines to reflect on the implications for current and future provision of pension and retirement income of demographic ageing, the changing financial circumstances of nation states, and globalization. An indispensable desk reference for researchers and practitioners in the area, it is also essential for policymakers and those with broad interests which include this very important area. Contributors: William C. Apgar, Camila Arza, Anthony Asher, Vickie L. Bajtelsmit, Armando Barrientos, Rob Bauer, Gary Burtless, John Y. Campbell, Gordon L. Clark, Adam Creighton, E Philip Davis, Johan J. De Deken, Zhu Xiao Di, Richard Disney, Bernhard Ebbinghaus, Robin Ellison, Ewald Engelen, Gosta Esping-Andersen, Teresa Ghilarducci, Tryggvi Thor Herbertsson, Roy P.M.M. Hoevenaars, Tony Hope, Yu-Wei Hu, Paul Johnson, André Laboul, Florence Legros, David McCarthy, Warren McGillivray, Carmelo Mesa-Lago, Marilyn Moon, Alicia H. Munnell, John Myles, David Neumark, Naohiro Ogawa, J. Michael Orszag, Hanam S. Phang, John Piggott, Eduard Ponds, James Poterba, Neha Sand, Steven Sass, Julian Savulescu, Tom B.M. Steenkamp, Annika Sundén, Noriyuki Takayama, Patricia Thane, Ian Tonks, Bart van Riel, Steven F. Venti, Luis M. Viceira, Noel Whiteside, Geoffrey Whittington, David A. Wise, and Juan Yermo.

Introduction. 1. The Agenda. 2. Pension and Retirement Income in a Global Environment. I Retirement in Context. Creating Modern Retirement. 3. The History of Retirement. 4. The Development of Public Pensions from 1889 to the 1990s. 5. The Development of Employer Retirement Income Plans: from the Nineteenth Century to 1980. 6. Changing Work Patters and the Reorganization of Occupational Pensions. 7. Gender, the Family, and the Economy. 8. Social Solidarity. The Economic Context. 9. Demography and Ageing. 10. Life-cycle Options and Preferences. 11. Funding, Saving and Economic Growth. II Public Retirement Plans. State Old-Age Pension Programs. 12. Structure and Performance of Defined Benefit Schemes. 13. The Structure and Performance of Mandated Pensions. 14. Actuarial-based Public Pension Systems. Entitlements and Pensions. 15. Citizenship, Entitlement, and Mobility. 16. Early Retirement. 17. Meeting Health and Long-term Care Needs in Retirement. III Employment-Sponsored Retirement Plans. Structure of Employer-Sponsored Pensions. 18. Employer-Sponsored Plans: The Shift from Defined Benefit to Defined Contribution. 19. Organized Labor and Pensions. 20. Corporate Finance and Capital Markets. Pension Plan Investments. 21. Asset Liability Management. 22. Strategic Asset Allocation for Pension Plans. 23. Pension Fund Management and Investment Performance. Pension Plan Governance. 24. Regulation of pension fund governance. 25. Regulatory Principles and Institutions. 26. Accounting Standards for Pension Costs. IV Individual and Household Retirement Provision. Individual Pnesions, Insurance, and Saving. 27. Occupational pension scheme design. 28. Annuities, Risk, and Longevity. 29. Personal Pensions and Markets. Individual and Household Retirement Planning. 30. Choice, Behavior, and Retirement Saving. 31. Housing Wealth and Retirement Savings. 32. The Elderly and Ethical Financial Decision-Making. V Looking Ahead. Prospective Models. 33. Structure Pension Reform - privatisation - in Latin America. 34. Private Pensions and Public Policy: the Public-Private Divide Reappraised. 35. Unending Work. Challenges. 36. Productivity, Compensation, and Retirement. 37. Poverty and Inequality. 38. The Politics of Reform: Managing Interest Group Conflicts. Emerging Economies. 39. Pensions for Development and Poverty Reduction. 40. Retirement Income Systems in Asia. 41. Pensions in Africa. Coda. 42. Sustainable and Equitable Retirement in a Life Course Perspective.

Gordon L. Clark is the Halford Mackinder Professor of Geography, Professorial Fellow of the Saïd Business School, and Faculty Associate of the Institute of Ageing at the University of Oxford, and is a Fellow of St Peter's College, Oxford. He is a member of the Panel of Academic Experts of the UK National Association of Pension Funds and a Governor of the Pensions Policy Institute. Alicia H. Munnell is the Peter F. Drucker Professor in Management Sciences at Boston College's Carroll School of Management. Previously, Professor Munnell was a Member of the President's Council of Economic Advisers (1995-1997) and Assistant Secretary of the Treasury for Economic Policy (1993-1995). She spent most of her professional career at the Federal Reserve Bank of Boston, where she became Senior Vice President and Director of Research in 1984. Professor Munnell was co-founder and first President of the National Academy of Social Insurance and is currently a member of the American Academy of Arts and Sciences, the Institute of Medicine, the National Academy of Public Administration, and the Pension Research Council at Wharton. She is a member of the Board of the Wheeling-Pittsburgh Steel Corporation, The Century Foundation, the National Bureau of Economic Research, and the Pension Rights Center.; J. Michael Orszag is Head of Research at Towers Watson Worldwide

This is a fascinating and incredibly useful book for anyone interested in the problem of retirement income provision. Its 42 chapters by the leading thinkers and researchers in the subject cover almost every imaginable topic, from the history of retirement plans, through current structures and problems to the future. By producing this book, Clark, Munnell, and Orszag have provided an invaluable resource.