Securing Lifelong Retirement Income: Global Annuity Markets and Policy
Olivia S. Mitchell, John Piggott, and Noriyuki Takayama
Abstract
Interest in longevity and longevity risk management is burgeoning, as government and regulatory agencies are increasingly conscious of the potential risks and benefits of longer life spans. Commercial and industrial organizations, especially within the financial sector, are awakening to the opportunities presented by population aging, along with the new array of financial insurance instruments to manage longevity risk which more sophisticated markets are making possible. This volume explores three main themes: the need for products to manage longevity risk, the structure and safety of financia ... More
Interest in longevity and longevity risk management is burgeoning, as government and regulatory agencies are increasingly conscious of the potential risks and benefits of longer life spans. Commercial and industrial organizations, especially within the financial sector, are awakening to the opportunities presented by population aging, along with the new array of financial insurance instruments to manage longevity risk which more sophisticated markets are making possible. This volume explores three main themes: the need for products to manage longevity risk, the structure and safety of financial products on the market that help manage longevity risk, and the role of policy in stimulating and strengthening longevity insurance products. The volume is international in purview, with coverage on emerging economies (India, Chile) along with many of the older nations (Sweden, Canada, the United States, Australia, Japan, the United Kingdom, and Switzerland). It evaluates the challenge posed by trends in longevity risk and draws out the implications and constraints of this new reality for insurance companies and annuity providers.
Keywords:
annuities,
longevity risk,
demographic change,
insurance,
pensions,
social insurance
Bibliographic Information
| Print publication date: 2011 |
Print ISBN-13: 9780199594849 |
| Published to Oxford Scholarship Online: September 2011 |
DOI:10.1093/acprof:oso/9780199594849.001.0001 |
Authors
Affiliations are at time of print publication.
Olivia S. Mitchell, editor
Executive Director of the Pension Research Council, Wharton School, University of Pennsylvania
Author Webpage
John Piggott, editor
Professor of Economics, Australian School of Business, University of New South Wales
Author Webpage
Noriyuki Takayama, author
Professor, Institute of Economic Research, Hitotsubashi University, Tokyo
Author Webpage
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