RT Journal Article
SR Electronic
T1 The Design and Production of New Retirement Savings Products
JF The Journal of Portfolio Management
FD Institutional Investor Journals
SP 123
OP 126
DO 10.3905/jpm.2003.319890
VO 29
IS 3
A1 Cees Dert
A1 Michiel Lodewijk
A1 Bart Oldenkamp
A1 Michiel de Pooter
YR 2003
UL https://pm-research.com/content/29/3/123.abstract
AB An earlier contribution to this journal implied that protective floor investment strategies in defined-contribution pension investments beat investments in traditional asset mixes, with respect to both the probability of achieving a minimum target level of future pension income and the expected level of future pension income. These commentators show that protective floor strategies may be attractive to loss-averse investors, but they do not beat traditional investments simultaneously on expected pension income and on the probability of achieving the target pension income.