Chapter

The Private Life Annuity Market in Germany: Products and Money's Worth Ratios

Barbara Kaschützke and Raimond Maurer

in Securing Lifelong Retirement Income

Published in print May 2011 | ISBN: 9780199594849
Published online September 2011 | e-ISBN: 9780191729119 | DOI: http://dx.doi.org/10.1093/acprof:oso/9780199594849.003.0008
The Private Life Annuity Market in Germany: Products and Money's Worth Ratios

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This chapter explores the workings of the German private annuity market to evaluate whether annuities are delivering an adequate value for money by measuring their money's worth. This chapter examines key features of the German private annuity market and give a comprehensive description of the main product groups, taking into consideration the statutory obligation to distribute substantial parts of insurer's annual profits to the annuitant. Relying on a large dataset covering about 90 percent of the German market, it calculates money's worth ratios for private payout annuities and trace long-term developments.

Keywords: Germany; annuity market; money's worth; mortality; voluntary annuity market; gender differences; profit participation; interest rates; pensions

Chapter.  8883 words.  Illustrated.

Subjects: Pensions

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