”, I evaluate the money’s worth of life annuities and discuss the implications of the government entering the insurance … market as a public-sector provider for annuities. I find that commercial insurers offer competitively-priced annuities with … annuities launched by government under an annuitization mandate are estimated to provide money’s worth ratios exceeding unity …

.K. annuities, and the relationship between the accumulation and decumulation phases of a defined contribution pension scheme by … focusing on the properties of the pension replacement ratio. The paper computes the money's worth of annuities over the sample … period, and finds that on average the money's worth has been just less than unity, implying that annuities are fairly priced …

buy annuities. The results suggestthat asymmetric information along the guarantee margin reduces welfare relative to a …

arrangement is adopted. In particular, the role of annuities in providing a retirement income is examined as well as insurance … inflation indexed life annuities provide relatively good value for money. Although relative to annuities sold in the US and the … presence of a government provided safety net pension could also result in low demand for annuities.These two issues suggest …