Perceptions of Mortality Risk: Implications for Annuities

Eric T. Sondergeld and Matthew Drinkwater

in Pension Design and Structure

Published in print July 2004 | ISBN: 9780199273393
Published online January 2005 | e-ISBN: 9780191601675 | DOI:
Perceptions of Mortality Risk: Implications for Annuities

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This chapter reviews research on how retirees and near-retirees view and manage mortality risks, and the implications for annuity buying behaviour. It is shown that the ownership of an annuity product is not synonymous with mortality risk transfer. People are becoming less protected over time from mortality risk, as evidenced by the decline in traditional pension plan coverage.

Keywords: mortality risk; retirees; annuities; retirement income; pension plans

Chapter.  5418 words. 

Subjects: Financial Markets

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