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Innovative Approaches to Managing Longevity Risk in Asia: Lessons from the West

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  • Roy, Amlan

    (Asian Development Bank Institute)

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    Abstract

    This paper discusses what is longevity risk, why it is important, approaches used by the West to manage longevity risk, and what lessons can be learnt by Asian countries from the experiences of the West. Increasing and uncertain longevity has emerged as a key risk affecting individuals, pension plans, insurers, and governments in both the developed and emerging world. I discuss progress in the field of longevity modeling and the merits as well as drawbacks of these models. In western countries, attempts have been made by capital market and governments to deal with longevity risk, but the availability of solutions remain limited.

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    File URL: http://www.adbi.org/files/2012.04.13.wp353.innovative.longevity.risk.asia.pdf
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    Bibliographic Info

    Paper provided by Asian Development Bank Institute in its series ADBI Working Papers with number 353.

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    Length: 27 pages
    Date of creation: 13 Apr 2012
    Date of revision:
    Handle: RePEc:ris:adbiwp:0353

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    Related research

    Keywords: longevity risk; asia; managing longevity risk; longevity modeling; pension plans;

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    1. Pablo Antolín, 2007. "Longevity Risk and Private Pensions," OECD Working Papers on Insurance and Private Pensions 3, OECD Publishing.
    2. Mackenzie,George A. (Sandy), 2006. "Annuity Markets and Pension Reform," Cambridge Books, Cambridge University Press, number 9780521846325, April.
    3. Pablo Antolin, 2008. "Ageing and the payout phase of pensions, annuities and financial markets," OECD Journal: Financial Market Trends, OECD Publishing, vol. 2008(2), pages 1-19.
    4. Pablo Antolin & Hans J. Blommestein, 2007. "Governments and the Market for Longevity-indexed Bonds," Financial Market Trends, OECD Publishing, vol. 2007(1), pages 153-175.
    5. David E. Bloom & David Canning & Jaypee Sevilla, 2001. "Economic Growth and the Demographic Transition," NBER Working Papers 8685, National Bureau of Economic Research, Inc.
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