Un impulso al mercado de rentas vitalicias en España
[Promoting the annuities market in Spain]
This paper is aimed to answer a set of questions through an examination of the literature and empirical evidence on annuities. Every section of the paper try to address one specific question, naming: How important is the ageing problem in the world? How is social security being replaced or complemented by savings? What financial products provide financial safety for the elderly? Why the annuities market is so thin? Why the annuities market only develop when there is a mandate to annuitisize? How is Spanish annuity market organized? What regulatory issues are to be develop in order to expand the instrument? What reforms can be instrumented in Spain to expand the market?
|Date of creation:||Jul 2008|
|Date of revision:||Jul 2008|
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3929, The World Bank.
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"An analysis of money's worth ratios in Chile,"
Policy Research Working Paper Series
3926, The World Bank.
- Wolfram J. Horneff & Raimond Maurer & Olivia S. Mitchell & Ivica Dus, 2006.
"Optimizing the Retirement Portfolio: Asset Allocation, Annuitization, and Risk Aversion,"
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12392, National Bureau of Economic Research, Inc.
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- Ivica Dus & Raimond Maurer & Olivia S. Mitchell, 2003.
"Betting on Death and Capital Markets in Retirement: A Shortfall Risk Analysis of Life Annuities versus Phased Withdrawal Plans,"
wp063, University of Michigan, Michigan Retirement Research Center.
- Dus, Ivica & Maurer, Raimond H. & Mitchell, Olivia S., 2004. "Betting on death and capital markets in retirement: A shortfall risk analysis of life annuities versus phased withdrawal plans," CFS Working Paper Series 2004/01, Center for Financial Studies (CFS).
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3, OECD Publishing.
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- Fiona Stewart, 2007. "Policy Issues for Developing Annuities Markets," OECD Working Papers on Insurance and Private Pensions 2, OECD Publishing.
- Edward R. Whitehouse, 2007. "Life-Expectancy Risk and Pensions: Who Bears the Burden?," OECD Social, Employment and Migration Working Papers 60, OECD Publishing.
- Indermit S. Gill & Truman G. Packard & Juan Yermo & Todd Pugatch, 2004. "Keeping the Promise of Old Age Income Security in Latin America," World Bank Other Operational Studies 10349, The World Bank.
- E. Philip Davis, 2002. "Issues in the Regulation of Annuities Markets," CeRP Working Papers 26, Center for Research on Pensions and Welfare Policies, Turin (Italy).
- Estelle James & Xue Song, 2001. "Annuities Markets Around the World: Money’s Worth and Risk Intermediation," CeRP Working Papers 16, Center for Research on Pensions and Welfare Policies, Turin (Italy).
- Irena Dushi & Anthony Webb, 2004. "Annuitization: Keeping Your Options Open," Working Papers, Center for Retirement Research at Boston College wp2004-4, Center for Retirement Research, revised Mar 2004.
- Allison Schrager & G. A. Mackenzie, 2004. "Can the Private Annuity Market Provide Secure Retirement Income?," IMF Working Papers 04/230, International Monetary Fund.
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