The Annuity Market in an Evolving Pension System: Lessons from Italy

Giovanni Guazzarotti and Pietro Tommasino

No 77, CeRP Working Papers from Center for Research on Pensions and Welfare Policies, Turin (Italy)

Abstract: We describe the main characteristics of the Italian annuity market in a comparative perspective. We present for the first time a comprehensive dataset concerning annuity prices in Italy, and compute indicators of actuarial fairness (money’s worth ratios). It turns out that annuities sold in Italy are quite expensive with respect to the ones sold in other countries and to the ones offered by the public pension system. On the basis of the evidence gathered, we discuss the adequacy of current practices and regulation, and propose policies to increase efficiency and to speed-up the development of the market.

Pages: 26 pages
Date: 2008-10
References: Add references at CitEc
Citations: View citations in EconPapers (10)

Downloads: (external link)
http://www.cerp.carloalberto.org/wp-content/uploads/2008/12/wp_77.pdf?f6fa34 (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:crp:wpaper:77

Access Statistics for this paper

More papers in CeRP Working Papers from Center for Research on Pensions and Welfare Policies, Turin (Italy) Contact information at EDIRC.
Bibliographic data for series maintained by Silvia Maero ().