Annuities : Regulating Withdrawals from Individual Pension Accounts
Pension, to most people, implies a regular payment from a specific age-such as retirement-until death. Individual retirement accounts are a vehicle for retirement savings but they do not become a pension in the conventional sense of the word until...
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| Format: | Brief |
| Language: | English |
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Washington, DC
2012
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| Online Access: | http://documents.worldbank.org/curated/en/2005/01/6255858/annuities-regulating-withdrawals-individual-pension-accounts http://hdl.handle.net/10986/11238 |
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okr-10986-112382021-04-23T14:02:54Z Annuities : Regulating Withdrawals from Individual Pension Accounts World Bank ADVERSE EFFECTS ADVERSE SELECTION ANNUITIES ANNUITIES MARKETS ANNUITY ANNUITY MARKETS ANNUITY PAYMENTS ANNUITY PROVIDERS ANNUITY PROVISION ANNUITY RATES BENEFIT LEVEL CAPITAL REQUIREMENTS CENTRAL BANK COMPETITIVENESS COUNTRY COMPARISONS COVERAGE DISCOUNT RATE EARNINGS REPLACEMENT ECONOMIC RESEARCH ECONOMISTS EMPIRICAL STUDIES FINANCE MINISTRIES FUTURE PAYMENTS GOVERNMENT BONDS GOVERNMENT INTERVENTION HEALTH INSURANCE HUMAN DEVELOPMENT INDEXATION INDEXED ANNUITY INDEXED BONDS INDIVIDUAL ACCOUNT SYSTEMS INDIVIDUAL ACCOUNTS INDIVIDUAL ACCOUNTS SYSTEM INDIVIDUAL RETIREMENT ACCOUNTS INFLATION INFORMAL SECTOR INHERITANCE INSURANCE COMPANIES INSURANCE INDUSTRY INSURERS INTEREST RATE INTEREST RATES INVESTMENT RETURNS LIFE ANNUITIES LIFE ANNUITY LIFE EXPECTANCIES LIFE EXPECTANCY LIFE INSURANCE LIFE INSURANCE COMPANIES LIQUID ASSETS LIQUIDITY LIVING STANDARDS LONGEVITY INSURANCE LONGEVITY RISK MACROECONOMIC STABILIZATION MANDATORY SYSTEM MORAL HAZARD MORAL HAZARD PROBLEM MORTALITY TABLES PATERNALISM PENSION FUND PENSION FUNDS PENSION REFORM PENSION REFORMS PENSION SCHEMES PENSION SYSTEM PENSION SYSTEMS PENSIONERS PENSIONS POLITICAL ECONOMY PROGRAMS PUBLIC POLICY PURCHASING POWER REPLACEMENT RATE RESERVES RETIREMENT RETIREMENT AGE RETIREMENT INCOME RETIREMENT SAVINGS RURAL COMMUNITIES SAFETY NETS SAVINGS ACCOUNTS SAVINGS BEHAVIOR SCHEDULED WITHDRAWALS SOCIAL PROTECTION SOCIAL SAFETY NET SUPERVISORY AUTHORITIES TRANSACTION COSTS VARIABLE ANNUITIES WEALTH WELFARE GAINS Pension, to most people, implies a regular payment from a specific age-such as retirement-until death. Individual retirement accounts are a vehicle for retirement savings but they do not become a pension in the conventional sense of the word until they are converted to an 'annuity'. How much and what type of annuitization should be mandated are key policy questions facing reformers. Economists believe that annuities can make people better off. The intuition is straightforward. Life expectancy is normally uncertain. So people would have to spend accumulated wealth slowly after retirement to ensure an adequate income should they live a long time. This kind of self-insurance is costly because it increases the chances that people will consume less than they could have if they knew when they were going to die. This cost can be reduced with annuities, which pool risk across individuals. 2012-08-13T14:31:47Z 2012-08-13T14:31:47Z 2005-01 http://documents.worldbank.org/curated/en/2005/01/6255858/annuities-regulating-withdrawals-individual-pension-accounts http://hdl.handle.net/10986/11238 English World Bank Pension Reform Primer Series CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank Washington, DC Publications & Research :: Brief Publications & Research |
| repository_type |
Digital Repository |
| institution_category |
Foreign Institution |
| institution |
Digital Repositories |
| building |
World Bank Open Knowledge Repository |
| collection |
World Bank |
| language |
English |
| topic |
ADVERSE EFFECTS ADVERSE SELECTION ANNUITIES ANNUITIES MARKETS ANNUITY ANNUITY MARKETS ANNUITY PAYMENTS ANNUITY PROVIDERS ANNUITY PROVISION ANNUITY RATES BENEFIT LEVEL CAPITAL REQUIREMENTS CENTRAL BANK COMPETITIVENESS COUNTRY COMPARISONS COVERAGE DISCOUNT RATE EARNINGS REPLACEMENT ECONOMIC RESEARCH ECONOMISTS EMPIRICAL STUDIES FINANCE MINISTRIES FUTURE PAYMENTS GOVERNMENT BONDS GOVERNMENT INTERVENTION HEALTH INSURANCE HUMAN DEVELOPMENT INDEXATION INDEXED ANNUITY INDEXED BONDS INDIVIDUAL ACCOUNT SYSTEMS INDIVIDUAL ACCOUNTS INDIVIDUAL ACCOUNTS SYSTEM INDIVIDUAL RETIREMENT ACCOUNTS INFLATION INFORMAL SECTOR INHERITANCE INSURANCE COMPANIES INSURANCE INDUSTRY INSURERS INTEREST RATE INTEREST RATES INVESTMENT RETURNS LIFE ANNUITIES LIFE ANNUITY LIFE EXPECTANCIES LIFE EXPECTANCY LIFE INSURANCE LIFE INSURANCE COMPANIES LIQUID ASSETS LIQUIDITY LIVING STANDARDS LONGEVITY INSURANCE LONGEVITY RISK MACROECONOMIC STABILIZATION MANDATORY SYSTEM MORAL HAZARD MORAL HAZARD PROBLEM MORTALITY TABLES PATERNALISM PENSION FUND PENSION FUNDS PENSION REFORM PENSION REFORMS PENSION SCHEMES PENSION SYSTEM PENSION SYSTEMS PENSIONERS PENSIONS POLITICAL ECONOMY PROGRAMS PUBLIC POLICY PURCHASING POWER REPLACEMENT RATE RESERVES RETIREMENT RETIREMENT AGE RETIREMENT INCOME RETIREMENT SAVINGS RURAL COMMUNITIES SAFETY NETS SAVINGS ACCOUNTS SAVINGS BEHAVIOR SCHEDULED WITHDRAWALS SOCIAL PROTECTION SOCIAL SAFETY NET SUPERVISORY AUTHORITIES TRANSACTION COSTS VARIABLE ANNUITIES WEALTH WELFARE GAINS |
| spellingShingle |
ADVERSE EFFECTS ADVERSE SELECTION ANNUITIES ANNUITIES MARKETS ANNUITY ANNUITY MARKETS ANNUITY PAYMENTS ANNUITY PROVIDERS ANNUITY PROVISION ANNUITY RATES BENEFIT LEVEL CAPITAL REQUIREMENTS CENTRAL BANK COMPETITIVENESS COUNTRY COMPARISONS COVERAGE DISCOUNT RATE EARNINGS REPLACEMENT ECONOMIC RESEARCH ECONOMISTS EMPIRICAL STUDIES FINANCE MINISTRIES FUTURE PAYMENTS GOVERNMENT BONDS GOVERNMENT INTERVENTION HEALTH INSURANCE HUMAN DEVELOPMENT INDEXATION INDEXED ANNUITY INDEXED BONDS INDIVIDUAL ACCOUNT SYSTEMS INDIVIDUAL ACCOUNTS INDIVIDUAL ACCOUNTS SYSTEM INDIVIDUAL RETIREMENT ACCOUNTS INFLATION INFORMAL SECTOR INHERITANCE INSURANCE COMPANIES INSURANCE INDUSTRY INSURERS INTEREST RATE INTEREST RATES INVESTMENT RETURNS LIFE ANNUITIES LIFE ANNUITY LIFE EXPECTANCIES LIFE EXPECTANCY LIFE INSURANCE LIFE INSURANCE COMPANIES LIQUID ASSETS LIQUIDITY LIVING STANDARDS LONGEVITY INSURANCE LONGEVITY RISK MACROECONOMIC STABILIZATION MANDATORY SYSTEM MORAL HAZARD MORAL HAZARD PROBLEM MORTALITY TABLES PATERNALISM PENSION FUND PENSION FUNDS PENSION REFORM PENSION REFORMS PENSION SCHEMES PENSION SYSTEM PENSION SYSTEMS PENSIONERS PENSIONS POLITICAL ECONOMY PROGRAMS PUBLIC POLICY PURCHASING POWER REPLACEMENT RATE RESERVES RETIREMENT RETIREMENT AGE RETIREMENT INCOME RETIREMENT SAVINGS RURAL COMMUNITIES SAFETY NETS SAVINGS ACCOUNTS SAVINGS BEHAVIOR SCHEDULED WITHDRAWALS SOCIAL PROTECTION SOCIAL SAFETY NET SUPERVISORY AUTHORITIES TRANSACTION COSTS VARIABLE ANNUITIES WEALTH WELFARE GAINS World Bank Annuities : Regulating Withdrawals from Individual Pension Accounts |
| relation |
World Bank Pension Reform Primer Series |
| description |
Pension, to most people, implies a
regular payment from a specific age-such as retirement-until
death. Individual retirement accounts are a vehicle for
retirement savings but they do not become a pension in the
conventional sense of the word until they are converted to
an 'annuity'. How much and what type of
annuitization should be mandated are key policy questions
facing reformers. Economists believe that annuities can make
people better off. The intuition is straightforward. Life
expectancy is normally uncertain. So people would have to
spend accumulated wealth slowly after retirement to ensure
an adequate income should they live a long time. This kind
of self-insurance is costly because it increases the chances
that people will consume less than they could have if they
knew when they were going to die. This cost can be reduced
with annuities, which pool risk across individuals. |
| format |
Publications & Research :: Brief |
| author |
World Bank |
| author_facet |
World Bank |
| author_sort |
World Bank |
| title |
Annuities : Regulating Withdrawals from Individual Pension Accounts |
| title_short |
Annuities : Regulating Withdrawals from Individual Pension Accounts |
| title_full |
Annuities : Regulating Withdrawals from Individual Pension Accounts |
| title_fullStr |
Annuities : Regulating Withdrawals from Individual Pension Accounts |
| title_full_unstemmed |
Annuities : Regulating Withdrawals from Individual Pension Accounts |
| title_sort |
annuities : regulating withdrawals from individual pension accounts |
| publisher |
Washington, DC |
| publishDate |
2012 |
| url |
http://documents.worldbank.org/curated/en/2005/01/6255858/annuities-regulating-withdrawals-individual-pension-accounts http://hdl.handle.net/10986/11238 |
| _version_ |
1764416018304729088 |