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Surprises in a Growing Market Niche

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Author Info

  • Hans-Martin von Gaudecker,
  • Carsten Weber

    (Munich Center for the Economics of Aging (MEA))

Abstract

High replacement rates from public old age insurance might lead to the belief that little room is left for private sector annuities in Germany. Taking a closer look, we find a small market with a surprisingly large variety of products. Due to the recent pension reform and future ones to come the market is projected to grow substantially in the upcoming years. This paper describes the available annuity contracts and determines their money’s worth for different subgroups of the population.

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Bibliographic Info

Paper provided by Munich Center for the Economics of Aging (MEA) at the Max Planck Institute for Social Law and Social Policy in its series MEA discussion paper series with number 03029.

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Date of creation: 13 May 2003
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Handle: RePEc:mea:meawpa:03029

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Postal: Munich Center for the Economics of Aging (MEA) at the Max Planck Institute for Social Law and Social Policy, Amalienstraße 33, 80799 München, Germany
Phone: +49/89/38602.442
Fax: +49/89/38602.490
Web page: http://www.mea.mpisoc.mpg.de/

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  1. James M. Poterba, 1997. "The History of Annuities in the United States," NBER Working Papers 6001, National Bureau of Economic Research, Inc.
  2. Olivia S. Mitchell & James M. Poterba & Mark J. Warshawsky, . "New Evidence on the Money's Worth of Individual Annuities," Pension Research Council Working Papers 97-9, Wharton School Pension Research Council, University of Pennsylvania.
  3. David McCarthy & Olivia S. Mitchell, 2003. "International Adverse Selection in Life Insurance and Annuities," NBER Working Papers 9975, National Bureau of Economic Research, Inc.
  4. Olivia S. Mitchell & David McCarthy, 2002. "Annuities for an Ageing World," CeRP Working Papers 21, Center for Research on Pensions and Welfare Policies, Turin (Italy).
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