Reportgreen2000

Mortality Risk, Inflation Risk, and Annuity Products

Jeffrey Scott Brown · Olivia S. Mitchell · James M. Poterba

61 citations0/0 files storedNational Bureau of Economic Research

No readable copy stored yet — this record is metadata only.

No open-access location is known for this record yet.

Literature note Cite in a project Citation map

Financial Literacy, Pension, Retirement Analysis Insurance and Financial Risk Management Insurance, Mortality, Demography, Risk Management

Abstract

As growing numbers of retirees reach retirement age with substantial balances in self-directed retirement plans, annuities are likely to become increasingly important instruments for drawing down retirement savings. This study explores recent trends in the pricing of single-premium annuity products in the United States. Virtually all of the annuity products currently available in the United States offer fixed nominal payouts, rather than an inflation-linked payout stream. After describing the money's worth' of the various types of nominal annuity products, this study considers the extent to which existing U.S. private annuity markets provide retirees with inflation-protected retirement income flows. Although there is effectively no market yet for inflation-indexed annuities in the United States, such products are available in other countries. The paper concludes by summarizing recent data on the pricing of both nominal and inflation-linked annuities in the United Kingdom and several other nations.

Paper brief

Loading…

Cite this work

Citation unavailable for this work.

BibTeX RIS CSL-JSON

No public copy is stored for this record, so only the metadata is cited.

Citations in this library

Citation map →

Stored only when both papers are in the corpus — 61 citations exist upstream.

References

1999New Evidence on the Money's Worth of Individual Annuities 1993Stock returns and inflation: A long-horizon perspective 1990The Cost of Annuities: Implications for Saving Behavior and Bequests 2001Private pensions, mortality risk, and the decision to annuitize 2000Joint Life Annuities and Annuity Demand by Married Couples 1998Projected Retirement Wealth and Saving Adequacy 2001The Role of Real Annuities and Indexed Bonds in an Individual Accounts Retirement Program

Cited by

2006Life is Cheap: Using Mortality Bonds to Hedge Aggregate Mortality Risk 2002Annuities for an Ageing World 2004TIPS, the Dual Duration, and the Pension Plan 2012Do Consumers Know How to Value Annuities? Complexity as a Barrier to Annuitization 2004Annuity Values in Defined Contribution Retirement Systems: Australia and Singapore Compared 2001Developments in Decumulation: The Role of Annuity Products in Financing Retirement 2013

Explore the map →

Papers that cite the same references — the relational fallback while embeddings are still backfilling.

Imported from OpenAlex (CC0) — nothing here is generated.