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UBS Pension Research Programme launched

Launch lecture for the UBS Pension Research Programme

Wednesday 15 May, 5.30pm
Old Theatre, Old Building
Speaker: Professor Jim Poterba, MIT

LSE teams up with UBS to develop new pension research.

State-funded financial security for old age is looking increasingly untenable. The Euro-zone may spur the development of a pan-European pensions market. What does the future hold for pension investors and the pensions industry?

Professor Jim Poterba, Professor of Economics at Massachusetts Institute of Technology (MIT), gives a lecture on Risk and Participant Investment Decisions in Defined Contributions Pensions at LSE on Wednesday 15 May.

Professor Poterba will draw on the American experience with participant-directed retirement saving plans, particularly 401(k) plans, to explore the risks associated with defined-contribution retirement plans. He will discuss investor diversification, the role of participant education in affecting investment choices, and the factors that affect participant saving behaviour in retirement plans.

This lecture celebrates the launch of the new UBS Pensions Research Programme at LSE. Funded for five years through a grant from UBS Global Asset Management, this new research programme will have three main aspects:

  • studies of household behaviour and demographic trends
  • pension fund management
  • public policies towards pensions.

A focus will be on the evolution of savings, pension provision and pension fund governance in European countries, including the UK, Germany, Italy and the Netherlands. There will also be comparative analysis with US pensions policies and market strategies. An important aim is to provide objective and independent research on pension finance and policy for the industry and governments.

The programme is jointly directed by Professor David Webb, director of the Financial Markets Group, and Professor Timothy Besley, chairman of STICERD, both financial research centres based at LSE.

Professor David Webb said: "This is great opportunity to develop some in-depth, highly valuable research into pensions and really suggest solutions to some of the key dilemmas facing an ageing population and the pensions industry."

Paul Yates, chief executive of UBS Global Asset Management, said: "At UBS we are keen advocates of research and have a clear record of 'thought leadership' in the pensions and investment industries. Our sponsorship of the UBS Pensions Research Programme at LSE is very much in tune with our research-driven approach. We are delighted to support LSE in their work in this vital area."

Ends

Contact: Nicola Gambrill on tel: +44 (0)20 7955 6301 Email: n.gambrill@lse.ac.uk|
Sandie Deane, UBS Global Asset Management, on tel: +44 (0)20 7901 5155

1 May 2002

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