Discussion Paper WP2009

Nudges and Networks: How to use behavioural economics to improve the life cycle savings-consumption balance.
David Blake

Abstract

We show how nudges can be used both to encourage people to save enough to provide a decent standard of living in retirement and to draw down their accumulated pension fund to maximize retirement spending, without the risk of running out of money. Networks can help too, particularly employer-based networks.

JEL code: D91

 

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