Annuities and Other Retirement Products : Designing the Payout Phase

This book examines recent changes in the landscape of retirement products and annuity markets in five countries. All the selected countries (Australia, Chile, Denmark, Sweden, and Switzerland) have mandatory or quasi-mandatory savings schemes. But...

Full description

Bibliographic Details
Main Authors:	Rocha, Roberto, Vittas, Dimitri, Rudolph, Heinz P.
Format:	Publication
Language:	English
Published:	World Bank 2012
Subjects:	ACCOUNTING ADVERSE SELECTION ANNUITIES ANNUITIES MARKETS ANNUITY ANNUITY CONVERSION ANNUITY CONVERSION FACTOR ANNUITY CONVERSION FACTORS ANNUITY MARKET ANNUITY MARKETS ANNUITY PAYMENTS ANNUITY PROVIDERS ANNUITY RATE ASSET LIABILITY MATCHING ASSET MANAGEMENT BANK BOND BANKRUPTCY BANKRUPTCY RISK BASIC PENSION BENEFIT PAYMENT BENEFIT PAYMENTS BEQUEST BEQUESTS BOND RATE BROKERS CAPITAL FUND CAPITAL LOSS CAPITAL MARKETS CAPITAL REQUIREMENTS CENTRAL BANK COMPANY PENSION COMPANY PENSIONS CONSUMER PRICE INDEX CONTRIBUTION RATES CONTRIBUTION RECORDS CORPORATE BOND CORPORATE PENSION CORPORATE PENSIONS COUPON DEFERRED ANNUITIES DEFERRED ANNUITY DEFINED BENEFIT DEFINED CONTRIBUTION SYSTEMS DEVELOPING COUNTRY ELDERLY EQUITY MARKETS FAIR VALUE FINANCIAL CRISIS FINANCIAL INSTITUTIONS FINANCIAL INSTRUMENTS FINANCIAL MARKET FINANCIAL MARKETS FINANCIAL PORTFOLIO FINANCIAL SAVINGS FINANCIAL SYSTEM FUNDED COMPONENT FUNDED SCHEMES FUTURE INCOME GOVERNMENT BOND GOVERNMENT PENSION GOVERNMENT POLICY GROSS DOMESTIC PRODUCT GUARANTEED BENEFITS GUARANTEED PERIOD GUARANTEED PERIODS HEALTH CARE HOME OWNERSHIP INCOME STREAM INCOME STREAMS INDEXED ANNUITIES INDEXED BONDS INDIVIDUAL ACCOUNT INDIVIDUAL ACCOUNTS INDIVIDUAL BENEFITS INDIVIDUAL DATA INDIVIDUAL PENSIONERS INFLATION INFLATION RISK INFLATION RISKS INSTRUMENT INSURANCE COMPANIES INSURANCE COMPANY INSURANCE MARKETS INSURANCE PREMIUMS INSURANCE PRODUCTS INSURANCE PROVIDERS INTEREST RATE INTEREST RATE SWAP INTERNATIONAL BANK INVESTING INVESTMENT CHOICES INVESTMENT INCOME INVESTMENT PERFORMANCE INVESTMENT POLICIES INVESTMENT PORTFOLIO INVESTMENT RETURNS INVESTMENT RISK INVESTMENT RISKS JOINT ANNUITIES LABOR FORCE LABOR FORCE PARTICIPATION LABOR MARKET LENDERS LIABILITY LIFE ANNUITIES LIFE EXPECTANCIES LIFE EXPECTANCY LIFE INSURANCE LIFE INSURANCE COMPANIES LIQUIDITY LIQUIDITY RISK LONG-TERM ASSETS LONG-TERM INTEREST LONG-TERM INTEREST RATE LONGEVITY INSURANCE LONGEVITY RISK LONGEVITY RISKS MANDATORY PILLAR MANDATORY SAVINGS MANDATORY SYSTEM MARKET CONCENTRATION MARKET CONDITIONS MARKET INTEREST RATES MARKET RETURNS MATURITY MINIMUM BENEFIT MORTALITY MORTALITY TABLES MULTIPILLAR PENSION SCHEMES MUTUAL FUNDS NATIONAL PENSION OCCUPATIONAL PENSION PLANS OCCUPATIONAL PENSIONS PENSION PENSION ASSETS PENSION BENEFIT PENSION CONTRIBUTIONS PENSION COST PENSION COVERAGE PENSION FUND PENSION FUND ADMINISTRATOR PENSION FUNDS PENSION LAW PENSION PAYMENTS PENSION REFORM PENSION REFORMS PENSION SAVINGS PENSION SCHEME PENSION SCHEMES PENSION SYSTEM PENSION SYSTEMS PENSIONER PENSIONERS PENSIONS PERSONAL PENSION PERSONAL PENSION PLANS PERSONAL PENSIONS PRIVATE PENSION PRIVATE PENSION FUNDS PRIVATE PENSION SYSTEMS PRIVATE PILLARS PRUDENTIAL REGULATION PRUDENTIAL REGULATIONS PUBLIC PENSION PUBLIC PILLAR PUBLIC PILLARS QUOTATION SYSTEM REGULATORY FRAMEWORK REGULATORY FRAMEWORKS REPLACEMENT RATE REPLACEMENT RATES RETIREES RETIREMENT RETIREMENT ACCOUNTS RETIREMENT AGE RETIREMENT ASSETS RETIREMENT INCOME RETIREMENT PRODUCT RETIREMENT PRODUCTS RETIREMENT PROGRAM RETIREMENT SAVINGS RETIREMENT SAVINGS ACCOUNT RETIREMENT SYSTEM RETIREMENT SYSTEMS RETIRING WORKERS RETURN RETURNS ON EQUITY RISK MANAGEMENT RISK SHARING RISK-FREE RATE SAVINGS SCHEMES SECURITIES SOCIAL INSURANCE SOCIAL PENSION SOCIAL PROTECTION SOCIAL SECURITY SOCIAL SECURITY SYSTEM SOCIAL SECURITY SYSTEMS SOLVENCY SOLVENCY REQUIREMENTS STATE GUARANTEES SUPERVISORY AUTHORITIES SUPERVISORY AUTHORITY SUPERVISORY FRAMEWORK SUPPLEMENTARY PENSION TAX TAX INCENTIVES TRADE UNION TRANSPARENCY VARIABLE ANNUITIES VOLUNTARY ANNUITY MARKETS WITHDRAWAL YIELD CURVE
Online Access:	http://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000356161_20110310023017 http://hdl.handle.net/10986/2272

Description
Summary:	This book examines recent changes in the landscape of retirement products and annuity markets in five countries. All the selected countries (Australia, Chile, Denmark, Sweden, and Switzerland) have mandatory or quasi-mandatory savings schemes. But they also exhibit significant differences in the structure of their pension systems, the relative importance of public pillars, the role and structure of private provision, the level of annuitization, and the structure and focus of their regulatory frameworks. Five studies have been commissioned to examine the state of annuity markets in each of these countries. The findings of these studies are summarized in the last five chapters of this book. The chapters of this book is discusses the various risks faced by pensioners and the risk characteristics of alternative retirement products, and it reviews the risks faced by providers of retirement products and the management and regulatory challenges of dealing with those risks. The chapter then discusses the risks faced by providers and reviews the challenges of various regulatory issues, ranging from the institutional organization of the market for retirement products to the regulation of marketing and pricing policies and the regulation of risk management. The chapter concludes with a brief summary of main points and conclusions.

Annuities and Other Retirement Products : Designing the Payout Phase

Similar Items