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

Antolin, Pablo

doi:10.2139/ssrn.1368825

Abstract

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

Pablo Antolin

Organisation for Economic Cooperation and Development, OECD

January 12, 2009

Abstract:
This paper reviews the impact of aging 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.

Number of Pages in PDF File: 24

Keywords: Defined contribution pension plans, annuities, programmed withdrawal, lump-sums, retirement income, annuity providers, insurance companies, annuity markets, deferred life annuities, longevity risk, long-term bonds, longevity-indexed bonds and longevity index

JEL Classification: D11, D14, D91, E21, G11, G38, J14, J26

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Date posted: March 26, 2009

Suggested Citation

Antolin, Pablo, Ageing and the Payout Phase of Pensions, Annuities and Financial Markets (January 12, 2009). Available at SSRN: http://ssrn.com/abstract=1368825 or http://dx.doi.org/10.2139/ssrn.1368825

Contact Information

Pablo Antolin (Contact Author)

Organisation for Economic Cooperation and Development, OECD ( email )

2 rue Andre Pascal
Paris Cedex 16, MO 63108
France
33-1-45.24.90.86 (Phone)
33-1-44.30.63.08 (Fax)