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The Impact of Longevity Risk on the Term Structure of the Risk-Return Tradeoff
Bisetti, Emilio - In: Rivista di Politica Economica (2012) 4, pp. 79-119
The increase in worldwide life expectancy finds a major drawback in the higher-than-expected liabilities that annuity providers will face in the next few years by paying more retirees for a longer period of time. Longevity-Linked Securities have recently been subject to great interest from...
Persistent link: https://www.econbiz.de/10010610780
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Policy Options for the Payout Phase
Antolín, Pablo - Directorate for Financial, Fiscal and Enterprises … - 2008
annuities. The paper addresses questions concerning the type of retirement payout options for accumulated assets in DC plans a … country should allow, which entities should provide annuities, and the type of annuity products that could be allowed. The … main recommendation is for policy makers to consider mandating deferred life annuities that start paying at very old ages …
Persistent link: https://www.econbiz.de/10004962916
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Ageing and the Payout Phase of Pensions, Annuities and Financial Markets
Antolín, Pablo - Directorate for Financial, Fiscal and Enterprises … - 2008
annuities can play in financing retirement, and examines the role of financial markets in facilitating the allocation on assets …
Persistent link: https://www.econbiz.de/10005011983
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Health and Mortality Delta: Assessing the Welfare Cost of Household Insurance Choice
Yogo, Motohiro; Koijen, Ralph S.J.; Van Nieuwerburgh, Stijn - Federal Reserve Bank of Minneapolis - 2014
by the ownership of life insurance, annuities including private pensions, and long-term care insurance in the Health and …
Persistent link: https://www.econbiz.de/10010796803
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Personal Pensions with Risk sharing: Affordable, Adequate and Stable Private Pensions in Europe
Bovenberg, A Lans; Nijman, Theo E - C.E.P.R. Discussion Papers - 2015
heterogeneous individuals. Moreover, unlike variable annuities, PPRs allow investment risks to be combined with longevity insurance …
Persistent link: https://www.econbiz.de/10011252616
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Individual Annuity Demand under Aggregate Mortality Risk
Post, Thomas - 2008
Aggregate mortality risk - the risk that the mortality trend in a population changes in a nondeterministic way - and its implications for corporate decisions has recently been the subject of lively scientific discussion. We show that aggregate mortality risk is also a key determinant for...
Persistent link: https://www.econbiz.de/10012726979
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Individual Welfare Gains from Deferred Life-Annuities under Stochastic Mortality
Post, Thomas - 2012
calculate the welfare gains of deferred annuities considering stochastic mortality improvements. Deferred annuities are found to …
Persistent link: https://www.econbiz.de/10012712306
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Bequest Motives and the Annuity Puzzle
Lockwood, Lee - In: Review of Economic Dynamics 15 (2012) 2, pp. 226-243
for annuities. (Copyright: Elsevier) …
Persistent link: https://www.econbiz.de/10008861934
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Time Inconsistent Preferences and the Annuitization Decision
Schreiber, Philipp; Weber, Martin - C.E.P.R. Discussion Papers - 2015
When entering retirement most people face the decision whether they would like their defined contribution account balance paid as a lump sum or to annuitize the amount. The fact that people tend to choose the lump sum even if economic reasons suggest not to is called the annuity puzzle. In a...
Persistent link: https://www.econbiz.de/10011165648
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Funded and Unfunded Pensions: Risk, Return and Welfare
Miles, David K - C.E.P.R. Discussion Papers - 2000
This paper uses stochastic simulations on calibrated models to assess the optimal degree of reliance on funded pensions and on a particular type of unfunded (PAYG) pension. Surprisingly little is known about the optimal split between funded and unfunded systems when there are sources of...
Persistent link: https://www.econbiz.de/10005067559