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Books > Business & Economics > Finance & accounting > Finance > Insurance
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Developing an Annuity Market in Europe (Hardcover, illustrated edition)
Loot Price: R3,331
Discovery Miles 33 310
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Developing an Annuity Market in Europe (Hardcover, illustrated edition)
Expected to ship within 12 - 17 working days
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On the premise that pension provision in Europe will dramatically
change over the next few decades, this book concentrates on the
funded component of pension wealth, and specifically on annuities -
financial products that, on the basis of actuarial equivalence,
allow the conversion of wealth into a lifelong stream of income.
Developing an Annuity Market in Europe provides an analysis of how
longevity and return risks are dealt with, besides considering key
features from both household and insurance company perspectives. It
takes account of the fact that annuity markets are expected to
attract much interest in future years given the prospective cuts in
public pension expenditure. In order to fill the gap between
shrinking pensions and desired retirement consumption, the authors
argue, annuities must be well regulated and supplied with
financially attractive products. These conditions hardly exist
today: thin markets and scant interest prevail, information is
incomplete and imperfect, products show significant disparities.
The contributors to this book explore the causes of present
malfunctioning and examine the changes that may give annuities a
new and vital function, which, along with greater competition and
greater regulation may significantly alter the present scene of
pension finance. Finally, the book offers an overview of regulatory
issues including transparency, prudential provisions, appropriate
levels of guarantees, and administrative costs. This important and
timely book will be invaluable to anyone interested in annuities,
from practitioners through to students, researchers and academics
concerned in financial or public economics.
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