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| Title: | 藉由行為面和自選平台設計的探討提升勞退新制自提率
Improve the Saving Rate of Labor Pension New Scheme by Behavioral Analysis and the Design of Self-Investment Platform |
| Authors: | 王建皓
Wang, Chien-Hao |
| Contributors: | 李志宏
Lee, Jie-Haun
王建皓
Wang, Chien-Hao |
| Keywords: | 勞退新制
確定提撥
自選平台
投資人行為
惰性和拖延
Labor pension new scheme
Defined contribution
Members choice
Investment behavior
Inertia and procrastination |
| Date: | 2018 |
| Issue Date: | 2018-08-01 16:19:49 (UTC+8) |
| Abstract: | 勞退新制的啟用，基本上確立了從確定給戶到確定提撥制的改變。隨著經濟結構持續的發展和演進，台灣的人口結構也漸漸呈現高齡化趨勢。不僅如此，平均壽命也隨著醫療科技的進步而延長。物價和通膨年年的緩慢增長，然而因為台灣的特殊經濟結構和央行貨幣政策使得薪資成長有限。也因此在上述諸多背景下，台灣的勞動人口將面臨退休後所得替代率不足的困境。
現行的勞退制度下是由政府統一保管和運用，並有最低保障收益，然而在公部門的運作之下，績效不甚良好。政府雖然鼓勵民眾自行提滿6%的額度，然而，民眾了解政府的績效低落，又沒有自行選擇投資平台可供民眾自行選擇投資產品，因此目前提撥率很低。未來規畫開放勞退新制自行選擇投資平台，為退休金參與者提供更多元化投資選擇。設計規劃時必須探討投資人行為: 惰性、拖延等行為偏誤將嚴重危害退休金資產的累積。因此投資平台，應有良好的預設機制矯正投資人的行為偏誤，同時設計良好的預設基金給沒有時間來積極規劃投資理財的勞工，如人生週期型基金是最佳的設計。退休理財規劃必須持續不斷推廣，政府應結合民間保險業者能力，教育民眾退休理財規劃的重要性，建立更完整的個人理財觀念。
Labor Pension New Scheme basically is the change of structure from defined benefit to defined contribution. With the developing of economic structure, Taiwan’s population is gradually with more aging population. With the improvement of medical technology, average life expectancy also longer than previous decades. Price level and inflation rate rise every year. However, the monetary policy of central bank and Taiwan’s special economic structure cause the limit of salary increase. With all the situation above, Taiwan’s labor will face serious inadequate income replacement rate of their retirement life.
Government manages the pension fund and guarantees the minimum investment rate. However, the performance of public sector is not as well as plan. Government really encourages the self-saving rate of individuals, but with the bad performance of pension fund and lack of choosing own financial products from self-selection platform, the saving rate of labor pension still very low. The proposal of self-selection platform in the near future should really consider two dimensions: products and behavioral biases. Behavioral bias such as inertia and procrastination will really affect the decision of individual in retirement assets. The platform should incorporate funds which already consider the human behavioral bias into it such as target date fund or life-cycle fund as default fund if individuals have hard time to handle retirement saving decision.
The concept of retirement financial plan should strongly spread to individuals, government should work with insurance companies together to teach individuals the importance of saving for retirement life. |
| Reference: | 1. 勞動部勞工保險局
2. 王儷玲(2000)，“勞工退休金制度開放自行選擇投資標的建議平台白皮書”，退休基金年刊
3. 吳啟明(1997)，“退休基金資產配置模式探討暨決策形成過程”，公務人員退撫基金專題研討會，p.77
4. 施羅德投資(2017)，“2017年退休準備關鍵報告”
5. 財團法人中華民國私立學校教職員退休撫卹理直資遣儲金管理委員會(2012)，中華民國私立學校教職員自主投資運用實施計畫手冊
6. 林讓均，“為甚麼要自提6%?「雙頭省稅」加快退休儲蓄”上網日期：106年12月11日，檢字：https://www.gvm.com.tw/article.html?id=22939
7. 林讓均，“規劃勞退自選平台 可借鏡私校退撫自選機制”上網日期：106年12月11日，檢字：https://www.gvm.com.tw/article.html?id=38267
8. 林讓均，“台灣家庭「退休五力」獨家解析” 上網日期：106年12月11日，檢字：https://www.gvm.com.tw/article.html?id=40324
9. 林巧雁，“中信銀私校退撫儲金 5萬人選保守投資”上網日期：106年12月11日，檢字：https://tw.appledaily.com/new/realtime/20170928/1212421/
10. Brigitte C. Madrian and Dennis F. Shea (2001). “The Power of Suggestion: Inertia in 401(k) Participation and Savings Behavior.”, NBER Working Paper No. 7682
11. Daniel Cassidy (2006), "Lessons from Behaviroal Finance and the Autopilot 401(k) Plan", A Manager’s Guide to Strategic Retirement Plan Management, p.257-274
12. Tapia, W. and J. Yermo (2007), "Implications of Behavioural Economics for Mandatory Individual Account Pension Systems", OECD Working Papers on Insurance and Private Pensions, No. 11, OECD Publishing
13. Shlomo Benartzi and Richard H.Thaler (2004),“Save More Tomorrow: Using Behavioral Economics to Increase Employee Saving”, Journal of Political Economy, 2004, vol. 112, no.1, pt. 2
14. Shlomo Benartzi and Richard H.Thaler (2007), “Heuristics and Biases in Retirement Savings Behovior”, Journal of Economic Prespectives-Volume 21, Number 3, p.81-104
15. Thaler Richard and H.M. Shefrin (1981) “An Economic Theory of Self-Control.” Journal of Political Economy 89: 392-406.
16. “Pension Market in Focus”(2017), OECD publication |
| Description: | 碩士
國立政治大學
財務管理學系
105357022 |
| Source URI: | http://thesis.lib.nccu.edu.tw/record/#G0105357022 |
| Data Type: | thesis |
| DOI: | 10.6814/THE.NCCU.Finance.026.2018.F07 |
| Appears in Collections: | [財務管理學系] 學位論文
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