Pooled annuity products, where the participants share systematic and idiosyncratic mortality risks as well as … managed-volatility for pooled annuity funds. We show how the managed volatility strategy improves investment performance …, while reducing pooled annuity income volatility and downside risk, as well as an investment strategy that reduces exposure …

stochastic mortality intensity. We find that a generation-based model is important, since spouses' dependence decreases when …