Chapter

Integrating Payouts: Annuity Design and Public Pension Benefits in Mandatory Defined Contribution Plans

Olivia S. Mitchell and Kent Smetters

in The Pension Challenge

Published in print November 2003 | ISBN: 9780199266913
Published online August 2004 | e-ISBN: 9780191601323 | DOI: http://dx.doi.org/10.1093/0199266913.003.0005
 Integrating Payouts: Annuity Design and Public Pension Benefits in Mandatory Defined Contribution Plans

More Like This

Show all results sharing this subject:

  • Financial Markets

GO

Show Summary Details

Preview

This chapter examines alternative annuity designs, and the interactions between annuity preference and publicly provided safety net support. It is shown that with a minimum pension guarantee, the variable annuity is the most preferred annuity. Inflation insured annuity products are popular among the rich and risk-averse. Non-life instruments are also popular, but are quite expensive for government revenue.

Keywords: retirement income; alternative annuity; consumer preference; public pension benefits; defined contribution plans

Chapter.  4635 words.  Illustrated.

Subjects: Financial Markets

Full text: subscription required

How to subscribe Recommend to my Librarian

Buy this work at Oxford University Press »

Users without a subscription are not able to see the full content. Please, subscribe or login to access all content.