1887

OECD Working Papers on Insurance and Private Pensions

Selected studies on insurance and private pensions policy prepared for use within the OECD and addressing such policy issues as risk management, governance, types of investments, and benefit protection. This working papers series has been discontinued; it is superseded by ‘OECD Working Papers on Finance, Insurance and Private Pensions’ available via: http://dx.doi.org/10.1787/20797117.

English

Policy Issues for Developing Annuities Markets

Annuities are specifically designed to cover the risk that an individual outlives their own resources by transferring such risk to an insurance undertaking. Despite an increasing need for annuity products (due to increasing longevity, decreasing state pensions, a rise in Defined Contribution pension plans etc.), these markets remains under-developed in many OECD countries. This paper attempts to address why this is the case and what policy options exist for encouraging annuity markets to develop.

English

Keywords: retirement, defined contribution plans, annuity markets, annuities, defined benefit pension plans., private pensions
JEL: J32: Labor and Demographic Economics / Wages, Compensation, and Labor Costs / Nonwage Labor Costs and Benefits; Retirement Plans; Private Pensions; G32: Financial Economics / Corporate Finance and Governance / Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill; G29: Financial Economics / Financial Institutions and Services / Financial Institutions and Services: Other
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