Annuities and Other RetirementProducts : Designing the Payout Phase

Rocha, Roberto ; Vittas, Dimitri ; Rudolph, Heinz P.

World Bank

关键词: ACCOUNTING;    ADVERSE SELECTION;    ANNUITIES;    ANNUITIES MARKETS;    ANNUITY;   

DOI  :  10.1596/978-0-8213-8573-9
RP-ID  :  60052

学科分类：社会科学、人文和艺术（综合）

来源: World Bank Open Knowledge Repository

【 摘 要 】

This book examines recent changes in thelandscape of retirement products and annuity markets in fivecountries. All the selected countries (Australia, Chile,Denmark, Sweden, and Switzerland) have mandatory orquasi-mandatory savings schemes. But they also exhibitsignificant differences in the structure of their pensionsystems, the relative importance of public pillars, the roleand structure of private provision, the level ofannuitization, and the structure and focus of theirregulatory frameworks. Five studies have been commissionedto examine the state of annuity markets in each of thesecountries. The findings of these studies are summarized inthe last five chapters of this book. The chapters of thisbook is discusses the various risks faced by pensioners andthe risk characteristics of alternative retirement products,and it reviews the risks faced by providers of retirementproducts and the management and regulatory challenges ofdealing with those risks. The chapter then discusses therisks faced by providers and reviews the challenges ofvarious regulatory issues, ranging from the institutionalorganization of the market for retirement products to theregulation of marketing and pricing policies and theregulation of risk management. The chapter concludes with abrief summary of main points and conclusions.