Compulsory and Voluntary Annuity Markets in the United Kingdom
E. S. Cannon
University of Bristol - Department of Economics
University of Bath School of Management
September 11, 2010
Pension Research Council Working Paper No. 2010-22
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, Productsworking papers series
Date posted: November 11, 2010
© 2013 Social Science Electronic Publishing, Inc. All Rights Reserved.
This page was processed by apollo3 in 0.475 seconds