Adopting Hybrid Pension Plans: Effects of Economic Crisis and Regulatory Reform
in Reshaping Retirement Security
September 2012; published online January 2013.
Chapter. Subjects: pensions. 7504 words.
This chapter examines the factors that affected plan sponsors’ decisions to convert a traditional defined benefit plan to a hybrid design. The study uses combined plan level data from Form 5500...
Annuities and their Derivatives: The Recent Canadian Experience
in Securing Lifelong Retirement Income
May 2011; published online September 2011.
Chapter. Subjects: pensions. 5521 words.
This chapter surveys recent developments within the Canadian ‘income annuity’ marketplace. The chapter starts by computing the Money's worth ratio (MWR) using a unique dataset which includes a decade...
Annuities, Financial Literacy, and Information Overload
in Financial Literacy: Implications for Retirement Security and the Financial Marketplace
October 2011; published online January 2012.
Chapter. Subjects: pensions. 8094 words.
This chapter investigates how financial literacy and information overload influence the decision to purchase an annuity and how they relate to subsequent confidence and satisfaction. Using a dataset...
Annuity demand theory
in Annuity Markets
October 2008; published online January 2009.
Chapter. Subjects: pensions. 14695 words.
This chapter discusses Yaari's (19665) annuitization result, which states that a risk-averse individual concerned about longevity risk (uncertain length of life) will always purchase actuarially-fair...
Annuity Markets
October 2008; published online January 2009.
Book. Subjects: pensions. 320 pages.
Governments around the world are responding to the rising ratio of elderly-to-young persons (‘The Pensions Crisis’) by shifting their pension policies away from pay-as-you-go systems towards...
Annuity markets around the world
in Annuity Markets
October 2008; published online January 2009.
Chapter. Subjects: pensions. 6464 words.
This chapter examines the structure and prevalence of annuity markets in a number of selected countries around the world: Australia, Chile, Germany, Italy, Singapore, Sweden, Switzerland, and USA. It...
Annuity Markets in Japan
in Securing Lifelong Retirement Income
May 2011; published online September 2011.
Chapter. Subjects: pensions. 4674 words.
In Japan, annuities are not currently very popular as a means to finance retirement, since many people rely on government social security benefits in old age. When annuities are sold, they tend not...
Annuity Valuation, Long‐Term Care, and Bequest Motives
in Recalibrating Retirement Spending and Saving
September 2008; published online January 2009.
Chapter. Subjects: pensions. 9046 words.
Financial security in retirement has traditionally meant having a steady flow of annuity income as long as one lives — a definition enshrined in the Social Security system. Earlier research has...
Are Baby Boomers Living Well Longer?
in Redefining Retirement
August 2007; published online September 2007.
Chapter. Subjects: pensions. 6101 words.
This chapter uses the Health and Retirement Study to describe the relationship between work and health for older persons by age. It examines patterns within a given cross-section and also trends in...
Asset Allocation within Variable Annuities: The Impact of Guarantees
in Recalibrating Retirement Spending and Saving
September 2008; published online January 2009.
Chapter. Subjects: pensions. 7533 words.
The latest generation of variable annuity contracts contains equity options plus longevity insurance, sometimes thought to be attractive to purchasers willing to take on financial risk. This chapter...