longevity risk is not an option for annuity providers, given that individuals already consider annuities to be expensive. An … riskiness retained by the provider, so to make sure that the business value can represent appropriately the risk-return trade …

previously been discussed in the literature, stems from a public expectation that citizens will enjoy risk premiums and adequate … old-age benefits, an expectation that evolves into political pressure. The outcomes of this risk path are realized in … converge naturally into a new landscape paradigm of risk-sharing, with intergenerational and intragenerational components …