Pension as an allowence or a onetime capital withdrawal? preferences and psychological factor (Hebrew)

Publications

Omer Selivansky

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2014

Two central drawing products of pension savings are the onetime capital withdrawal for independent management of savings by the pensioner, or the annuity, namely, obligation of the pension fund for monthly payment for the rest of the pensioner’s life. While the annuity has many advantages, many people prefer to withdraw the whole sum of money, known as “The Annuity Puzzle”. The study examined the extent of the phenomenon in Israel and the influence of personal characteristics on saving preferences.

Research synopsis, Insurance and Financial Literacy Research Center

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