Developments in Decumulation: The Role of Annuity Products in Financing Retirement

Olivia Mitchell

No 8567, NBER Working Papers from National Bureau of Economic Research, Inc

Abstract: Longer lifespans are generally seen as a positive outcome of economic growth. Yet life extension also means that more people face the risk of living too long -- that is, outliving their assets and means of support. A range of financial products exists currently or can be envisioned for the future that would be useful in helping to protect people against having to dramatically curtail consumption in old age. This paper reviews the usefulness of life annuities in providing protection against longevity risk.

JEL-codes: G2 H3 (search for similar items in EconPapers)
Date: 2001-10
New Economics Papers: this item is included in nep-fin, nep-ias and nep-pbe
Note: AG LS
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (11)

Published as Auerbach, A. and H. Herrman (eds.) Ageing, Financial Markets and Monetary Policy. Berlin: Springer-Verlag, 2002. p. 97-125
Published as Benefits Quarterly, 2nd Q, 2003.
Published as Tachibanaki, Toshiaki (ed.) The Economics of Social Security in Japan. Surrey, UK: Elgar, 2004.

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