Securing Lifelong Retirement Income: Global Annuity Markets and Policy

Hardcover | June 26, 2011

EditorOlivia S. Mitchell, John PiggottbyNoriyuki Takayama

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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 theopportunities 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 offinancial 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 manyof 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.

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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 theopportunities presented by population aging, al...

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 ar...

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Format:HardcoverDimensions:256 pages, 9.21 × 6.14 × 0.76 inPublished:June 26, 2011Publisher:Oxford University PressLanguage:English

The following ISBNs are associated with this title:

ISBN - 10:0199594848

ISBN - 13:9780199594849

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Table of Contents

1. Olivia S. Mitchell and John Piggott: Turning Wealth into Lifetime Income: The Challenge AheadAnnuity Markets Around the World2. Edward Palmer and Bo Larsson: The Swedish Annuity Market: Where It Is and Where It's Headed3. Mukul G. Asher and Deepa Vasudevan: Market Structure and Challenges for Annuities in India4. Moshe A. Milevsky and Ling-wu Shao: Annuities and Their Derivatives: The Recent Canadian Experience5. Anthony Webb: The United States Longevity Insurance Market6. Hazel Bateman and John Piggott: Too Much Risk to Insure? The Australian (non-)Market for Annuities7. Jose Ruiz and Olivia S. Mitchell: Pension Payouts in Chile: Past, Present, and Future Prospects8. Barbara Kaschutzke and Raimond Maurer: The Private Life Annuity Market in Germany: Products and Money's Worth Ratios9. Junichi Sakamoto: Annuity Markets in Japan10. Edmund Cannon and Ian Tonks: Compulsory and Voluntary Annuity Markets in the United Kingdom11. Monika Butler and Stefan Staubli: Payouts in Switzerland: Explaining Developments in Annuitization