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Behaviour & finance programme


Our Behaviour and Finance Programme investigates pension funds, their characteristics and governance structures, as well as the retirement savings decisions of individuals. We aim to understand governance structures of pension funds, and the underlying behavioural flaws inherent in long-term investment decision-making by individuals.

Our work

Public pension systems are under pressure from demographic shifts, an ageing population, and external factors such as climate change. Internationally, pension funds are under immense pressure, resulting in a gradual shift to increased individual responsibility for retirement-saving. Our goal is to understand the behavioural inclinations that influence investment decisions, and provide guidance on how individuals can overcome these biases.

Agile protection

Agile protection describes flexible insurance which is tailored to individual needs. Building on our Income protection gap project, we recommend steps to develop frameworks for social protection in rapidly changing global and national labour markets.

Income protection gap

The Income protection gap refers to the difference between household earnings and the replacement income available during an unplanned interruption to that salary. What are the behavioural biases that affect an individual when choosing income protection insurance policies? As governments around the world cut back on social protection programmes, there is growing interest in the potential for employer- and household-sponsored schemes to fill this gap.