Centre for Policy on Ageing



Divine benefit versus divine contribution pensions: approaches to monitoring improvements in American retirement income security over the next decade — the inaugural INVESCO Lecture on Retirement Income Security
Author(s)	Neal E Cutler
Journal title	Journal of Applied Gerontology, vol 20, no 4, December 2001
Pages	pp 480-407
Keywords	Pensions ; Private pensions ; Income [older people] ; Social economics ; Lecture papers ; United States of America.
Annotation	As American "Baby boomers" approach retirement age, the prospect is of increased demands on pension funds; and despite contributions paid, there may be insufficient money in accounts. The author uses Cutler and Gregg's Wealth Span Models to explain the human life span in financial terms as being in two stages, the Accumulation Stage and the Expenditure Stage. Other trends that come into play in pension provision are increasing numbers of older people surviving longer (and also requiring care to be funded), and the trend from defined benefit to defined contribution pensions. Three new monitors of retirement income security are proposed: a direct measure of retirement accumulation; monitoring the income gap between poverty and social security; and improving financial literacy, that is people's understanding of and attitudes towards saving. (RH).
Accession Number	CPA-020319208 A
Classmark	JJ: JK: JF: W4: 6MA: 7T
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...from the Ageinfo database published by Centre for Policy on Ageing.