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Adaptive Retirement Planning, Sustainable Withdrawals, and Deferred Annuities

Anran Chen, Steven Haberman and Stephen Thomas
The Journal of Retirement Winter 2023, 10 (3) 96-119; DOI: https://doi.org/10.3905/jor.2022.1.118
Anran Chen
is a senior vice president on the ALM & Investment Strategy team at Redington in London, UK
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Steven Haberman
is a professor of actuarial science at Bayes (formally Cass) Business School at the City University of London in the UK
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Stephen Thomas
is a professor of finance at Bayes (formally Cass) Business School at the City University of London in the UK
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Article Information

vol. 10 no. 3 96-119
DOI 
https://doi.org/10.3905/jor.2022.1.118

Published By 
Pageant Media Ltd
Print ISSN 
2326-6899
Online ISSN 
2326-6902
History 
  • Published online February 1, 2023.

Article Versions

  • Latest version (August 18, 2022 - 03:13).
  • Latest version (October 6, 2022 - 04:14).
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© 2023 Pageant Media Ltd

Author Information

  1. Anran Chen
    1. is a senior vice president on the ALM & Investment Strategy team at Redington in London, UK. (anran.chen{at}redington.co.uk)
  2. Steven Haberman
    1. is a professor of actuarial science at Bayes (formally Cass) Business School at the City University of London in the UK. (s.haberman{at}city.ac.uk)
  3. Stephen Thomas
    1. is a professor of finance at Bayes (formally Cass) Business School at the City University of London in the UK. (stephen.thomas.1{at}city.ac.uk)
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Adaptive Retirement Planning, Sustainable Withdrawals, and Deferred Annuities
Anran Chen, Steven Haberman, Stephen Thomas
The Journal of Retirement Jan 2023, 10 (3) 96-119; DOI: 10.3905/jor.2022.1.118

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Adaptive Retirement Planning, Sustainable Withdrawals, and Deferred Annuities
Anran Chen, Steven Haberman, Stephen Thomas
The Journal of Retirement Jan 2023, 10 (3) 96-119; DOI: 10.3905/jor.2022.1.118
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  • Article
    • Abstract
    • SUSTAINABLE WITHDRAWAL, PERFECT WITHDRAWAL, AND PORTFOLIO CONSTRUCTION
    • DECUMULATION AND THE PWR FRAMEWORK
    • RESULTS AND IMPLICATIONS
    • GLIDE PATH INVESTING AND CHANGING ASSET ALLOCATION
    • CONCLUSIONS
    • ENDNOTES
    • REFERENCES
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