Nurin Haniah Asmuni; Tan, Ken Seng; Purcal, T. Sachi - In: Risks : open access journal 10 (2022) 4, pp. 1-21
Post retirement, annuities provide a steady stream of income for retirees. However, the annuitization rate is … status in retirement reduces annuitization due to adverse selection. Recent innovation introduces an enhanced annuity plan … countries other than the UK. This paper aims to study the optimal annuitization rate where both standard and substandard annuity …