Market Structure and Challenges for Annuities in India

Mukul G. Asher and Deepa Vasudevan

in Securing Lifelong Retirement Income

Published in print May 2011 | ISBN: 9780199594849
Published online September 2011 | e-ISBN: 9780191729119 | DOI:
Market Structure and Challenges for Annuities in India

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India will need to develop a robust annuity market if it is to enable its rapidly aging population to address longevity risk. As the fraction of the aged triples by 2050, driving a huge potential demand for annuity-type products will need to be matched by responses from annuity providers. Developing a deeper and broader market for annuities will require disaggregated morbidity and mortality databases for better price discovery, supply of financial instruments enabling better matching of assets and long-term liabilities, innovations in annuity products and distribution channels, greater financial literacy, and more robust regulation.

Keywords: India; longevity risk; mortality; morbidity; annuitization; defined benefit; defined contribution; pensions; annuity markets; financial literacy

Chapter.  6889 words.  Illustrated.

Subjects: Pensions

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