Contents: 1. Introduction 2. Annuities for an Aging World 3. Issues in the Regulation of Annuities Markets 4. Annuity Risk: Volatility and Inflation Exposure in Payments from Immediate Life Annuities 5. Pension Annuitization and Social Security Claiming 6. Longevity Risk in Living Benefits 7. Guaranteed Annuity Conversion Options and their Valuation 8. The Behavior of UK Annuity Prices from 1972 to 2002 9. Private Annuities and Public Pensions in Germany 10. Mandated Annuities in Switzerland 11. The Market for Annuities in Italy: Reality or Chimera? Index
Edited by Elsa Fornero, Professor of Economics, Faculty of Economics and Director, Center for Research on Pensions and Welfare Policies (CeRP), University of Turin and Elisa Luciano, Professor of Mathematical Finance, Faculty of Economics, University of Turin, Italy
'The book is highly recommended to anyone interested in this
subject. There is a lack of contributions that deal adequately with
issues such as the articulation of various pension schemes,
horizontal and vertical equity, political choices, public versus
private annuitisation, and so on. . . The main merit of Elsa
Fornero and Elisa Luciano's work is their success in bringing
together so many renowned experts and varied texts, and the book
undoubtedly contributes to progress in knowledge about pensions,
savings and welfare policies.'
*Life and Pensions Magazine*
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