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Compulsory and Voluntary Annuity Markets in the United KingdomE. S. CannonUniversity of Bristol - Department of Economics Ian TonksUniversity of Bath School of Management September 11, 2010 Pension Research Council Working Paper No. 2010-22 Abstract: This chapter describes the operation of both the compulsory pension annuity and voluntary annuity markets in the U.K. and evaluates prices using a money’s worth approach. We find that the money’s worth was about 0.90 to 2004 but it then fell to about 0.80, although there is uncertainty about the appropriate mortality table. We suggest that the level of the money’s worth is comparable to that of other financial products and we consider possible reasons for the recent fall.
Number of Pages in PDF File: 37 Keywords: Annuity, United Kingdom, MWR, Insurance, Rates, Mortality, Life Expectancy, Voluntary, Pension, Products working papers seriesDate posted: November 11, 2010Suggested Citation |
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