Research Topics
Our projects are centered around four main research topics (while we are open to other collaborations in pension policy area).

1. Optimal design of auto-enrollment systems
Analyzes the financial and non-financial aspects of auto-enrollment programs, with a particular focus on addressing persistent challenges such as low coverage rates and high opt-out levels, aiming to support more sustainable pension participation.
Focus areas include:
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Comprehensive review of financial and non-financial parameters across countries
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Analysis of economic, financial, and behavioral drivers behind high opt-out rates
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Policy recommendations to reduce opt-outs and enhance participation

2. Behavioral and technological tools to promote pension savings
Focuses on developing innovative behavioral and technological solutions to promote pension savings with a particular emphasis on reaching low-income individuals, informal workers, and women.
Focus areas include:
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Using saving through consumption platforms to enhance retirement savings
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Designing digital micro-pensions to ensure adequate retirement income
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Implementing pilot projects and RCTs to test behavioral and technological tools

3. Life-cycle fund design under human capital and financial capital risk
Aims to develop a new life-cycle investing model to be used as the default option in private pension plans, incorporating country-specific uncertainties in both human and financial capital to better reflect local economic conditions and individual risk profiles.
Focus areas include:
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Impact of temporary and permanent income shocks on life-cycle fund portfolios
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Effects of estimation risk and mean reversion on long-term asset allocation
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Adjusting portfolios to socioeconomic, macroeconomic, and financial factors

4. Developing long-term benchmarks in evaluating the pension fund performance
Examines the risk-adjusted performance of pension funds by focusing on comprehensive long-term risk measurement and the development of appropriate long-term benchmarks to ensure a meaningful evaluation of investment strategies over time.
Focus areas include:
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Defining long-term variance to capture the unique risk profile of pension funds
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Estimating robust long-term variance for pension portfolio optimization
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Developing long-term benchmarks to evaluate pension fund performance