The Swedish Annuity Market: Where it is and Where it's Headed

Edward Palmer and Bo Larsson

in Securing Lifelong Retirement Income

Published in print May 2011 | ISBN: 9780199594849
Published online September 2011 | e-ISBN: 9780191729119 | DOI:
The Swedish Annuity Market: Where it is and Where it's Headed

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This chapter analyzes the structure of demand for retirement products in Sweden using both aggregate and individual data. We show that all occupational groups except white-collar workers are more likely to choose a five-year withdrawal rather than a life annuity, as are women and those with less education. The result for women possibly reflects the fact that most in the cohort examined qualify for a public widow's benefit, available to women born prior to 1945, so the litmus test is still to come. Information on tax deductions indicates that future demand for private annuities will be strong, but it is unclear whether the pattern of taking short-term withdrawals will reverse.

Keywords: Sweden; defined benefit; defined contribution; social insurance; taxation; mortality; longevity; term annuity; life annuity; pensions

Chapter.  7745 words.  Illustrated.

Subjects: Pensions

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