not accept investment risk, the income available to consumers is greater from an annuity rather than from the alternative …An annuity is an insurance contract where a person (the annuitant) pays a premium upfront to obtain a stream of future … payments until his or her death. To assess the value of an annuity, we calculate the ratio of the expected present value of …

for a reduction in both mortality and in inpatient care as a consequence of the early retirement offer. Increasing the …

for a reduction in both mortality and in inpatient care as a consequence of the early retirement offer. Increasing the …

This chapter describes the operation of both the compulsory pension annuity and voluntary annuity markets in the U … fell to about 0.80, although there is uncertainty about the appropriate mortality table. We suggest that the level of the …