Securing Lifelong Retirement Income

Global Annuity Markets and Policy
Erscheinungsjahr 2011
ISBN: 978-0-19-959484-9
Verlag: OUP Oxford

Buch, Englisch, 256 Seiten, Print PDF, Format (B × H): 161 mm x 240 mm, Gewicht: 546 g

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.

This edited volume brings together leading international experts to 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 manage retirement payouts and longevity risk.

Autoren/Hrsg.

Takayama, Noriyuki

Mitchell, Olivia S.

Piggott, John

Fachgebiete

• Wirtschaftswissenschaften Betriebswirtschaft Unternehmensorganisation, Corporate Responsibility Unternehmenskultur, Corporate Governance

Inhaltsverzeichnis

- 1: Olivia S. Mitchell and John Piggott: Turning Wealth into Lifetime Income: The Challenge Ahead

- Annuity Markets Around the World

- 2: Edward Palmer and Bo Larsson: The Swedish Annuity Market: Where It Is and Where It's Headed

- 3: Mukul G. Asher and Deepa Vasudevan: Market Structure and Challenges for Annuities in India

- 4: Moshe A. Milevsky and Ling-wu Shao: Annuities and Their Derivatives: The Recent Canadian Experience

- 5: Anthony Webb: The United States Longevity Insurance Market

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

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

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

- 9: Junichi Sakamoto: Annuity Markets in Japan

- 10: Edmund Cannon and Ian Tonks: Compulsory and Voluntary Annuity Markets in the United Kingdom

- 11: Monika Bütler and Stefan Staubli: Payouts in Switzerland: Explaining Developments in Annuitization

Über Autor(innen)

Olivia S. Mitchell is the International Foundation of Employee Benefit Plans Professor and the Chair of the Department of Insurance and Risk Management; Executive Director of the Pension Research Council; and Director of the Boettner Center on Pensions and Retirement Research at the Wharton School. Her areas of research and teaching are private and public insurance, risk management, public finance and labor markets, and compensation and pensions, with a US and an international focus. She received the Ph.D. degrees in economics from the University of Wisconsin-Madison.

John Piggott is Professor of Economics in the Australian School of Business, University of New South Wales, where he also heads up the Australian Institute for Population Ageing Research. His research examines economic and financial aspects of population aging. He received the Ph.D. in Economics from the University of London.

Noriyuki Takayama is Professor at the Institute of Economic Research with the Hitotsubashi University in Tokyo. His research interests include intergenerational economic issues, public and private pensions, and household saving and wealth formation. He received the Ph.D. from the University of Tokyo.