Mapping UK pension benefits and the intended purchase of annuities in the aftermath of the 1990s stock market bubble
Bibliographic Data
| ID | 8964028 |
|---|---|
| Authors | Gordon L Clark (0000-0003-3159-7674, corresponding author), Gordon Clark (0000-0002-2954-9246, University of Oxford, corresponding author), Janelle Knox-Hayes (0000-0003-0378-5811, University of Oxford), Janelle Knox‐Hayes |
| Year | 2007 |
| Volume | 32 |
| Issue | 4 |
| Pages | 539-555 |
| Publication date | 2007-10-01 |
| Peer Reviewed | Yes |
| Open Access | Yes |
| Type | ARTICLE |
| Venue | Transactions of the Institute of British Geographers (JOURNAL) |
| Journal identifiers | ISSN: 0020-2754 • E-ISSN: 1475-5661 |
| Publisher | Wiley (PUBLISHER • GB) |
| DOI | 10.1111/j.1475-5661.2007.00277.x |
| OpenAlex | W2121284086 |
| Language | EN |
| Citations received | 9 |
| References cited | 37 |
Many people rely upon personal and employer‐sponsored pensions to supplement the basic state pension. As such, the soon‐to‐retire baby‐boom generation will depend on the nature and number of their pension entitlements as well as the performance of global stock markets – a fact of life ignored when market prospects appear on an upwards trajectory but of considerable concern when markets decline. There are increasing concerns about the social and geographical stratification of pension entitlements. Just as importantly, it appears that individual risk attitudes and financial decisionmaking are associated with the social identity of respondents, including their age, gender, marital status and income. Here, we test whether access to supplementary pension benefits is related to socio‐demographic status or region of residence or both. Having determined that social status is the crucial determinant of the number of pension entitlements held by respondents, we test whether the intended purchase of an annuity can be correlated with socio‐demographic status or region of residence or both. Based upon a unique and large data base of 50–64‐year‐olds – people with an immediate and tangible interest in their pension prospects – it is shown that respondents’ region of residence is significant in explaining the variance in individual's pension‐related risk management strategies. Implications are drawn for the map of UK pension benefits and for the existence of regional subcultures of financial decisionmaking
Actuarial science · Asset (computer security · Business · Demographic economics · Economics · Geography · Labour economics · Marital status · Market economy · Pension · Population · Residence · Social security · Sociology · Stock (firearms · Stock market · Finance · Financial Literacy, Pension, Retirement Analysis · Insurance, Mortality, Demography, Risk Management · Retirement, Disability, and Employment
Finding the Collective in an Era of Pension Individualization
Human nature, the environment, and behaviour
Individual pension-related risk propensities
The Home, Pension Savings and Risk Aversion
Geography of Savings in the German Occupational Pension System
Luxembourg and Ireland in global financial networks
Financial geography
Financial Sophistication, Salience, and the Scale of Deliberation in UK Retirement Planning
Remaking Retirement Investors
The Science of Self-Control
Annuity Markets
Breakdown of Will
Spaces of Neoliberalism
Aging, Natural Death, and the Compression of Morbidity
“Economic man” in cross-cultural perspective
Baby Boomer retirement security
Individual differences in reasoning
Golden Eggs and Hyperbolic Discounting
Prospect Theory
Maps of Bounded Rationality
Rational choice and the structure of the environment.
Performing finance
The strange geography of health inequalities
(Expanding) the Role of Geography in Public Policy
Housing for Health
Towards an Ecology of Retail Financial Services
| Unique citing works | 9 |
|---|---|
| Citations per year | 0,5 |
| Citation span | 2008 - 2021 (14) |
| Citation velocity | historical |
| Highly cited | No |
| Citation types | Neutral: 9 |