TY - JOUR T1 - The Design and Production of New Retirement Savings Products JF - The Journal of Portfolio Management SP - 123 LP - 126 DO - 10.3905/jpm.2003.319890 VL - 29 IS - 3 AU - Cees Dert AU - Michiel Lodewijk AU - Bart Oldenkamp AU - Michiel de Pooter Y1 - 2003/04/30 UR - https://pm-research.com/content/29/3/123.abstract N2 - An earlier contribution to this journal implied that protective floor investment strategies in defined-contribution pension investments beat investments in traditional asset mixes, with respect to both the probability of achieving a minimum target level of future pension income and the expected level of future pension income. These commentators show that protective floor strategies may be attractive to loss-averse investors, but they do not beat traditional investments simultaneously on expected pension income and on the probability of achieving the target pension income. ER -