Enhanced annuities pay higher pensions than standard annuities in case of a reduced life
expectancy and are very prominent in the UK insurance market but not in other markets. The …

The Pension Crisis concerns the changing demographic profile of the economy: an
increasing number of elderly persons supported by fewer young people. Governments …

Longevity risk has become a major challenge for governments, individuals, and annuity
providers in most countries. In its aggregate form, the systematic risk of changes to general …

The German pension system was the first formal pension system in the world, designed by
Bismarck nearly 120 years ago. It has been very successful in providing high and reliable …

In his seminal 1965 paper, Yaari showed that, assuming actuarially fair annuity prices,
uncertain lifetimes, and no bequest motives, utility-maximizing retirees should annuitize all …

The aim of this paper is to explain the 'annuities puzzle'in greater depth by introducing the
bequest motive. It will try to determine whether this motive really is a relevant feature …

This chapter surveys recent developments within the Canadian “income annuity”
marketplace. We start by computing the Money's Worth Ratio (MWR) using a unique dataset …

The European insurance industry is currently undergoing a substantial change in financial
reporting requirements. Beginning in 2005, compliance with the International Financial …

Um die zukünftige Entwicklung der deutschen Rentenversicherung und die Auswirkungen
tatsächlicher sowie potentieller Rentenreformen analysieren zu können, bedarf es eines …

Menschen sind im Lebensverlauf erheblichen biometrischen, ökonomischen, familiären und
politischen Risiken ausgesetzt. Die drei biometrischen Risiken umfassen das Risiko, durch …