摘要：In recent years there has been a significant shift in pension provision in the
USA and the UK from the situation where employers offer defined benefit pensions to
employees, to a ‘self-directed’ defined contribution basis where the individual employee
bears the risk that the pension contributions — and the investment returns they earn —
will be sufficient to fund a comfortable retirement. This paper discusses some of the
behavioural economics research relevant to assessing how well placed most employees
are to deal with this greater responsibility. It also discusses some of the suggestions
that have been made for using these behavioural findings to improve the design of
defined contribution pension plans.
