Securing lifelong retirement income : global annuity markets and policy / edited by Olivia S. Mitchell, John Piggott and Noriyuki Takayama.

Format:

Book

Contributor:

Mitchell, Olivia S.

Piggott, John (John R.)

Takayama, Noriyuki, 1946-

Language:

English

Subjects (All):

Pension trusts.

Life annuities.

Retirement income.

Physical Description:

xix, 231 pages : illustrations ; 24 cm

Place of Publication:

Oxford ; New York : Oxford University Press, 2011.

Summary:

Interest in longevity and longevity risk management is burgeoning, as government and regulatory agencies are increasingly conscious of the potential risks and benefits of longer lifespans. Commercial and industrial organizations, especially within the financial sector, are awakening to the opportunities presented by population aging, along with the new array of financial insurance instruments to manage longevity risk, which more sophisticated markets are making possible. This volume explores three main themes: the need for products to manage longevity risk; the structure and safety of financial products on the market that help manage longevity risk; and the role of policy in stimulating and strengthening longevity insurance products.

Leading international experts evaluate the challenge posed by trends in longevity risk and draws out the implications and constraints of this new reality for insurance companies and annuity providers. It discusses both emerging economies (India, Chile) and many of the older nations (Sweden, Canada, the US, Australia, Japan, the UK, and Switzerland). It aims to instigate new thinking among retirement planners, plan sponsors, academics, and industry leaders seeking to man age retirement payouts and longevity risk. Book jacket.

Contents:

Annuity Markets Around the World

2 The Swedish Annuity Market: Where it is and Where it's Headed / Edward Palmer Palmer, Edward, Bo Larsson Larsson, Bo 13

3 Market Structure and Challenges for Annuities in India / Mukul G. Asher Asher, Mukul G., Deepa Vasudevan Vasudevan, Deepa 32

4 Annuities and their Derivatives: The Recent Canadian Experience / Moshe A. Milevsky Milevsky, Moshe A., Ling-wu Shao Shao, Ling-wu 50

5 The United States Longevity Insurance Market / Anthony Webb Webb, Anthony 63

6 Too Much Risk to Insure? The Australian (non-) Market for Annuities / Hazel Bateman Bateman, Hazel, John Piggott Piggott, John 81

7 Pension Payouts in Chile: Past, Present, and Future Prospects / Jose Ruiz Ruiz, Jose, Olivia S. Mitchell Mitchell, Olivia S. 106

8 The Private Life Annuity Market in Germany: Products and Money's Worth Ratios / Barbara Kaschützke Kaschützke, Barbara, Raimond Maurer Maurer, Raimond 131

9 Annuity Markets in japan / Junichi Sakamoto Sakamoto, Junichi 159

10 Compulsory and Voluntary Annuity Markets in the United Kingdom / Edmund Cannon Cannon, Edmund, Ian Tonks Tonks, Ian 171

11 Payouts in Switzerland: Explaining Developments in Annuitization / Monika Butler Butler, Monika, Stefan Staubli Staubli, Stefan 195.

Notes:

Includes bibliographical references and index.

ISBN:

9780199594849

0199594848

OCLC:

699767166