Retiring babyboomers are driving a shift from retirement-fund accumulation to decumulation, but they need better choices to protect against longevity risk. The author says to enhance retirees' options, policy reforms should level the playing field for annuity products and promote market-driven...

Several proposals have surfaced recently that government develop and offer some sort of voluntary pension plan (VPP). This paper examines areas of public policy on pensions where changes should take place with or without the development of a VPP, including those that promote greater...