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How Costly Is Time Diversification in Contribution-Based Pension Plans?

Snorre Lindset et al.

Journal of Retirement2026https://doi.org/10.3905/jor.2026.004article
AJG 1ABDC B
Weight
0.50

What the paper says

The authors quantify the economic effects for an employee of reducing the investment risk in a pension plan at the end of his work life. Across several model specifications, they show that this risk reduction significantly lowers expected utility and certainty equivalent wealth. To partly compensate for the lower risk in this period, the employee rationally increases risk taking in the earlier period, relative to the comparable optimal risk taking.

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https://doi.org/https://doi.org/10.3905/jor.2026.004

Or copy a formatted citation

@article{snorre2026,
  title        = {{How Costly Is Time Diversification in Contribution-Based Pension Plans?}},
  author       = {Snorre Lindset et al.},
  journal      = {Journal of Retirement},
  year         = {2026},
  doi          = {https://doi.org/https://doi.org/10.3905/jor.2026.004},
}

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How Costly Is Time Diversification in Contribution-Based Pension Plans?

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Evidence weight

0.50

Balanced mode · F 0.40 / M 0.15 / V 0.05 / R 0.40

F · citation impact0.50 × 0.4 = 0.20
M · momentum0.50 × 0.15 = 0.07
V · venue signal0.50 × 0.05 = 0.03
R · text relevance †0.50 × 0.4 = 0.20

† Text relevance is estimated at 0.50 on the detail page — for your query’s actual relevance score, open this paper from a search result.