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http://hdl.handle.net/1893/30498| Appears in Collections: | Economics Journal Articles |
| Peer Review Status: | Refereed |
| Title: | The Effect on Annuities Preference of Prompts to Consider Life Expectancy: Evidence from a UK Quota Sample |
| Author(s): | Robinson, Jenny Comerford, David A |
| Contact Email: | david.comerford@stir.ac.uk |
| Issue Date: | Jul-2020 |
| Date Deposited: | 5-Dec-2019 |
| Citation: | Robinson J & Comerford DA (2020) The Effect on Annuities Preference of Prompts to Consider Life Expectancy: Evidence from a UK Quota Sample. Economica, 87 (347), pp. 747-762. https://doi.org/10.1111/ecca.12326 |
| Abstract: | State-run pensions advice websites in the UK and the US recommend considering how long the pension needs to last and offer a life expectancy calculator for this purpose. Theories make conflicting predictions regarding the effect on annuities preference of following this recommendation. We asked a quota sample of over 2,000 UK residents to choose between an annuity or cashing out their pension. Immediately prior to choice, a random subset of participants were asked how long their retirement will last; others were asked what age they will live to; others were asked what age they will die by; and a control group was not asked to consider how long the pension needs to last. Asking about life expectancy reduced preference for annuities relative to the control condition. This research suggests that the reference to life expectancy on the UK’s pension advice website exacerbates underannuitization. |
| DOI Link: | 10.1111/ecca.12326 |
| Rights: | This item has been embargoed for a period. During the embargo please use the Request a Copy feature at the foot of the Repository record to request a copy directly from the author. You can only request a copy if you wish to use this work for your own research or private study. This is the peer reviewed version of the following article: Robinson, J. and Comerford, D.A. (2020), The Effect on Annuities Preference of Prompts to Consider Life Expectancy: Evidence from a UK Quota Sample. Economica, 87: 747-762, which has been published in final form at https://doi.org/10.1111/ecca.12326. This article may be used for non-commercial purposes in accordance with Wiley Terms and Conditions for self-archiving. |
Files in This Item:
| File | Description | Size | Format | |
|---|---|---|---|---|
| Robinson and Comerford for publication.pdf | Fulltext - Accepted Version | 676.12 kB | Adobe PDF | View/Open |
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