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Survey of annuity pricing
— a report of independent academic research carried out by the University of Bristol and Xfi Centre for Finance and Investment, University of Exeter on behalf of the Department for Work and Pensions | | Author(s) | Edmund Cannon, Ian Tonks |
| Corporate Author | School of Economics, Finance and Management, University of Bristol; Xfi Centre for Finance and Investment, University of Exeter; Department for Work and Pensions - DWP |
| Publisher | Corporate Document Services, Leeds, 2006 |
| Pages | 135 pp (Department for Work and Pensions Research report, no 318) |
| Source | Corporate Document Services, 7 Eastgate, Leeds LS2 7LY. Email: orderline@cds.co.uk Website: www.cds.co.uk |
| Keywords | Annuity schemes ; Economics ; Research Reviews. |
| Annotation | An annuity provides insurance against outliving one's assets, while providing a higher return than a typical safe investment. This survey presents a review of the theoretical and empirical literature on the demand, supply and regulation for annuities. The authors document the historical development of annuity markets, and explain how it functions in relation to the UK's overall pension system. They explain annuity demand theory; describe different types of annuities including money's worth calculations; discuss reasons for the "annuity puzzle"; and provide some understanding of factors that determine the supply of annuities. Their conclusions note that while annuity products continue to be an important component in the UK pensions system, there are potential problems on both the supply and demand side. (RH). |
| Accession Number | CPA-060331002 B |
| Classmark | JFM: W: 3A:6KC |
Data © Centre for Policy on Ageing |
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| ...from the Ageinfo database published by Centre for Policy on Ageing. |
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