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Ageing and the Payout Phase of Pensions, Annuities and Financial Markets

Pablo Antolin ()

No 29, OECD Working Papers on Insurance and Private Pensions from OECD Publishing

Abstract: This paper reviews the impact of ageing on private pensions, in particular on the payout phase, assesses the part that annuities can play in financing retirement, and examines the role of financial markets in facilitating the allocation on assets accumulated in defined contribution pension plans. A comprehensive set of recommendations for discussion is provided at the end of the paper. Le vieillissement de la population et la phase de versement des pensions, rentes viagères et marchés financiers Ce document examine l’impact du vieillissement de la population sur les pensions privées, spécialement sur la phase de versement des pensions, évalue le rôle que les rentes viagères peuvent jouer pour financier la retraite, et examine le rôle de les marchés financiers pour faciliter l’allocation des actifs accumulés dans les plans de retraite à cotisations définies. Un ensemble de recommandations pour discussion est fourni à la fin du document.

Keywords: annuities; annuity markets; annuity providers; bons à long terme; compagnie d’assurances; deferred life annuities; defined contribution plans; indice de longévité; insurance companies; long-term bonds; longevity risk; longevity-indexed bonds; lump-sums; marchés des rentes viagères; plans de retraite à cotisations définies; programmed withdrawal; rente viagère; rentes viagères différées; retirement income; retrait programmé; revenu des retraites; risque de longévité; versement unique (search for similar items in EconPapers)
JEL-codes: D11 D14 D91 E21 G11 G38 J14 J26 (search for similar items in EconPapers)
Date: 2008-12-01
New Economics Papers: this item is included in nep-age and nep-ias
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Journal Article: Ageing and the payout phase of pensions, annuities and financial markets (2009) Downloads
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