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Policy Issues for Developing Annuities Markets

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Author Info
Fiona Stewart
Abstract

Annuities are specifically designed to cover the risk that an individual outlives their own resources by transferring such risk to an insurance undertaking. Despite an increasing need for annuity products (due to increasing longevity, decreasing state pensions, a rise in Defined Contribution pension plans etc.), these markets remains under-developed in many OECD countries. This paper attempts to address why this is the case and what policy options exist for encouraging annuity markets to develop.

Politiques pour le développement du marché viager
Les rentes viagères sont particulièrement adaptées afin de couvrir le risque qu’un individu survive au-delà de ses propres ressources, en transférant un tel risque à une entreprise d’assurance. Malgré la nécessité croissante de produits de rente viagère (attribuable à l’augmentation de la longévité, la réduction de la pension publique, et le succès des plans de pension à cotisations définies), ces marchés restent sous-développés dans la plupart des pays de l’OCDE. Ce document étudie les raisons qui peuvent expliquer cette situation et quelles options de politique peuvent aider à développer ce marché.

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File URL: http://dx.doi.org/10.1787/268701821137
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Publisher Info
Paper provided by OECD, Directorate for Financial and Enterprise Affairs in its series OECD Working Papers on Insurance and Private Pensions with number 2.

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Date of creation: Jan 2007
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Handle: RePEc:oec:dafaab:2-en

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Related research
Keywords: Annuities; annuity markets; defined benefit pension plans.; defined contribution plans ; private pensions; retirement; marchés de rente; pensions de retraite; pensions privées; plans de pensions à prestation définie; plans de retraite à cotisations définies; rente viagère; rente; viager;

Find related papers by JEL classification:
G29 - Financial Economics - - Financial Institutions and Services - - - Other
G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Capital and Ownership Structure
J32 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - Nonwage Labor Costs and Benefits; Private Pensions

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  1. Ferro, Gustavo, 2008. "On annuities: an overview of the issues," MPRA Paper 15436, University Library of Munich, Germany, revised May 2009. [Downloadable!]
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This page was last updated on 2009-11-17.

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