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Annuity Markets$
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Edmund Cannon and Ian Tonks

Print publication date: 2008

Print ISBN-13: 9780199216994

Published to Oxford Scholarship Online: January 2009

DOI: 10.1093/acprof:oso/9780199216994.001.0001

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A short history of annuities

A short history of annuities

(p.43) 3 A short history of annuities
Annuity Markets

Edmund Cannon (Contributor Webpage)

Ian Tonks (Contributor Webpage)

Oxford University Press

This chapter documents the historical development of annuity markets and provides examples of annuities from classical times up to the present day. It summarizes the system of pension provision in the UK, and discusses the role of annuities in the UK's pension system and the changes introduced on A-day in 2006. The chapter concludes with a discussion of recent developments in UK financial markets, including the problems of Equitable Life.

Keywords:   corrodies, tontines, pension policy, A-day, secured income, unsecured income, personal pensions, Equitable Life

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