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Annuity Markets and Pension Reform

Annuity Markets and Pension Reform

CAD$86.95 (P)

  • Date Published: July 2006
  • availability: Available
  • format: Hardback
  • isbn: 9780521846325

CAD$ 86.95 (P)

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About the Authors
  • This 2006 book treats two vital public policy issues: how should distributions from individual accounts be regulated, and how can the market for private annuities function better? It provides a comprehensive survey of the issues that arise when contributors to individual accounts become eligible for distributions. It also addresses the questions of whether annuitization or other restrictions on distributions should be mandatory, and if so, can the provision of annuities be privatized? Its analytical framework is applicable to a broad range of countries. Given the diminishing importance of public pensions around the world, the growing number of the elderly, and the increasing importance of defined contribution plans, the voluntary demand for private annuities is going to grow. It is vital that annuities be reasonably priced and that the annuity market be effectively regulated. The book investigates both issues, and proposes reforms to enhance the efficiency of the annuity market.

    • The first largely accessible and comprehensive treatment of annuity and pension issues
    • Suitable for a broad readership, very little math in the text
    • Author well-known public finance/macroeconomist at the IMF with a long-standing interest in pension reform
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    Reviews & endorsements

    "Written by an employee of the International Monetary Fund, this 237-page book is aimed principally at policymakers and regulators in countries where mandatory pension provision based on "individual accounts" is being considered. However, the breadth of coverage of the subject matter will make it a valuable educational text for those studying the annuity market and social security reform." -Zaki Khorasanee, Life and Pensions Magazine

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    Product details

    • Date Published: July 2006
    • format: Hardback
    • isbn: 9780521846325
    • length: 264 pages
    • dimensions: 229 x 152 x 19 mm
    • weight: 0.56kg
    • availability: Available
  • Table of Contents

    1. The demand side of the annuity market
    2. The supply side of the annuity market
    3. The regulation of annuity providers
    4. Experience with individual account reforms
    5. Individual liberty versus security in retirement, and the government's role
    6. Policy issues with both public and private sector provision of mandatory annuities
    7. Policy issues with privatization of the provision of annuities
    8. Conclusions and recommendations
    Appendix 1. The economics and financing of annuities
    Appendix 2. Aging and its impact on pension systems

  • Author

    George A. (Sandy) Mackenzie, International Monetary Fund Institute, Washington DC

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