Annuities and other retirement products : designing the payout phase
Author(s)
Bibliographic Information
Annuities and other retirement products : designing the payout phase
(Directions in development, Finance)
World Bank, c2011
- : pbk
Available at 14 libraries
  Aomori
  Iwate
  Miyagi
  Akita
  Yamagata
  Fukushima
  Ibaraki
  Tochigi
  Gunma
  Saitama
  Chiba
  Tokyo
  Kanagawa
  Niigata
  Toyama
  Ishikawa
  Fukui
  Yamanashi
  Nagano
  Gifu
  Shizuoka
  Aichi
  Mie
  Shiga
  Kyoto
  Osaka
  Hyogo
  Nara
  Wakayama
  Tottori
  Shimane
  Okayama
  Hiroshima
  Yamaguchi
  Tokushima
  Kagawa
  Ehime
  Kochi
  Fukuoka
  Saga
  Nagasaki
  Kumamoto
  Oita
  Miyazaki
  Kagoshima
  Okinawa
  Korea
  China
  Thailand
  United Kingdom
  Germany
  Switzerland
  France
  Belgium
  Netherlands
  Sweden
  Norway
  United States of America
Note
Includes bibliographical references and index
Description and Table of Contents
Description
Increasing longevity, globalized competition, and market fluidity have created a new landscape for the development of retirement products. Complete reliance on traditional social security systems and defined benefit pensions is no longer an alternative in emerging economies. The development of defined contribution pension systems during both the accumulation and the payout phases has been attracting attention from policy makers, who realize that valuable lessons can be gleaned from the experiences of countries that are ahead in the reform process.
Many countries that have implemented systemic pension reforms and introduced private pension systems are now facing the challenge of organizing the payout phase for retiring workers. This effort entails introducing a well-regulated and well- supervised market for retirement products, including marketing activities, providers, and intermediaries. However, in-depth analysis of the related policy issues, constraints, and options is rare. The literature on the payout phase is narrowly focused on a few countries, mainly the United Kingdom and the United States, and it does not address in sufficient detail the institutional and regulatory issues faced by policy makers in reforming countries.
Annuities and Other Retirement Products: Designing the Payout Phase aims to fill the gap in the literature. The book initially focuses on the policy issues and constraints confronting the design of the payout phase and examines risk factors for both pensioners and providers. It then scrutinizes the pension systems of five representative countries - Australia, Chile, Denmark, Sweden, and Switzerland - which provide a rich variety of experiences and policy lessons applicable to other reforming countries. The five study countries have large mandatory or quasi-mandatory private pension systems operating primarily on a defined contribution basis, and they have already entered the payout phase. A comparative analysis of the similarities and differences between the systems in these countries rounds out the investigation.
by "Nielsen BookData"