Preliminary result of a continuing research project that analyzes annuity markets in various countries. The projects focussed on understanding whether annuity makerts can be relied upon to provide reliable retirement income at reasonable prices

Private pension funds in Argentina's new integrated pension system have shown a vigorous response and a robust performance in a highly uncertain economic environment. But despite their success in mobilizing long-term funds and in earning high real investment returns, the funds have suffered from...

Over the past decade or so, most Central and Eastern European countries have reformed their pension systems, significantly downsizing their public pillars and creating private pillars based on capitalization accounts. Early policy attention was focused on the accumulation phase but several...

The provision of annuities and other benefits during the decumulation phase of defined contribution (DC) pension plans raises major policy issues. Because private markets for annuities and disability benefits are not well developed even in the most advanced OECD countries, the resolution of...