Governments and the Market for Longevity-Indexed Bonds

Pablo Antolín ; Hans J. Blommestein

Organisation for Economic Co-operation and Development

关键词: DB and DC plans;    hedging;    longevity-indexed bonds;    longevity risk;    longevity index;    financial instruments;    annuities;    pension fund;    indices;    Uncertainty;   

DOI  :  https://doi.org/10.1787/260561411283

学科分类：社会科学、人文和艺术（综合）

来源: OECD iLibrary

【 摘 要 】

Uncertainty about length of life, longevity risk, is a growing financial problem for pension funds and annuity providers. They would like to transfer longevity risk away to institutions better placed to deal with it. Unfortunately, there is a lack of financial instruments to hedge against this longevity risk, thereby complicating risk management by pension funds and hindering the expansion of the annuity market. Consequently, this paper examines the role of government in...