Policy Issues for Developing Annuities Markets

Fiona Stewart

No 2, OECD Working Papers on Insurance and Private Pensions from OECD Publishing

Abstract: 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.

Politiques pour le développement du marché viager Les rentes viagères sont particulièrement adaptées afin de couvrir le risque qu’un individu survive au-delà de ses propres ressources, en transférant un tel risque à une entreprise d’assurance. Malgré la nécessité croissante de produits de rente viagère (attribuable à l’augmentation de la longévité, la réduction de la pension publique, et le succès des plans de pension à cotisations définies), ces marchés restent sous-développés dans la plupart des pays de l’OCDE. Ce document étudie les raisons qui peuvent expliquer cette situation et quelles options de politique peuvent aider à développer ce marché.

Keywords: annuities; annuity markets; defined benefit pension plans.; defined contribution plans; marchés de rente; pensions de retraite; pensions privées; plans de pensions à prestation définie; plans de retraite à cotisations définies; private pensions; rente; rente viagère; retirement; viager (search for similar items in EconPapers)
JEL-codes: G29 G32 J32 (search for similar items in EconPapers)
Date: 2007-01-01
New Economics Papers: this item is included in nep-ias
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Citations: View citations in EconPapers (7)

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Persistent link: https://EconPapers.repec.org/RePEc:oec:dafaab:2-en

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