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Author : Great Britain. HM Treasury
Publisher :
ISBN 13 : 9781474116701
Total Pages : 29 pages
Book Rating : 4.1/5 (167 download)
Download or read book Creating a Secondary Annuity Market written by Great Britain. HM Treasury and published by . This book was released on 2015 with total page 29 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Great Britain: H.M. Treasury
Publisher :
ISBN 13 : 9780101886567
Total Pages : 28 pages
Book Rating : 4.8/5 (865 download)
Download or read book Creating a Secondary Annuity Market written by Great Britain: H.M. Treasury and published by . This book was released on 2015-03-19 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Great Britain: H.M. Treasury
Publisher :
ISBN 13 : 9781474116695
Total Pages : 28 pages
Book Rating : 4.1/5 (166 download)
Download or read book Creating a Secondary Annuity Market written by Great Britain: H.M. Treasury and published by . This book was released on 2015-03-18 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Creating a Secondary Annuity Market written by and published by . This book was released on 2016 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Roberto Rezende Rocha
Publisher : World Bank Publications
ISBN 13 : 082136667X
Total Pages : 292 pages
Book Rating : 4.8/5 (213 download)
Download or read book Developing Annuities Markets written by Roberto Rezende Rocha and published by World Bank Publications. This book was released on 2007 with total page 292 pages. Available in PDF, EPUB and Kindle. Book excerpt: Developing Annuities Markets: The Experience of Chile is part of a multicountry World Bank project analyzing the market for retirement products. Among countries that have reformed their pension systems since the early 1990s, the Chilean case has emerged as the most relevant for drawing policy lessons on the role of the private sector in the provision of retirement income for two reasons: the depth, sophistication, and efficiency of the country's retirement products market, and the fact that this market was successfully developed from scratch by a middle-income country. The book examines in det.
Author : Collectif
Publisher : OECD
ISBN 13 : 9264267794
Total Pages : 108 pages
Book Rating : 4.2/5 (642 download)
Download or read book Life Annuity Products and Their Guarantees written by Collectif and published by OECD. This book was released on 2016-12-05 with total page 108 pages. Available in PDF, EPUB and Kindle. Book excerpt: This publication helps policy makers to better understand annuity products and the guarantees they provide in order to optimise the role that these products can play in financing retirement. Product design is a crucial factor in the potential role of annuity products within the pension system, along with the cost and demand for these products, and the resulting risks that are borne by the annuity providers. Increasingly complex products, however, pose additional challenges concerning consumer protection. Consumers need to be aware of their options and have access to unbiased and comprehensible advice and information about these products.
Author : Jeffrey K. Dellinger
Publisher : John Wiley & Sons
ISBN 13 : 047177376X
Total Pages : 802 pages
Book Rating : 4.4/5 (717 download)
Download or read book The Handbook of Variable Income Annuities written by Jeffrey K. Dellinger and published by John Wiley & Sons. This book was released on 2006-08-28 with total page 802 pages. Available in PDF, EPUB and Kindle. Book excerpt: In-depth coverage of variable income annuities With trillions of dollars in retirement savings assets, the tens of millions of Americans on the precipice of retirement need to convert these savings into retirement income. The fact that variable income annuities (VIAs) generate maximum lifetime income with zero probability of outliving it has spurred the need for more information about VIAs. The Handbook of Variable Income Annuities is by far the most comprehensive source of information on this topic. This book thoroughly describes the most important principles of optimal asset liquidation and demystifies VIA mechanics, so readers can gain a high comfort level with this important financial instrument. Interestingly and clearly, The Handbook of Variable Income Annuities explains the mathematical pricing of variable income annuities, expected rates of return, taxation, product distribution, legal aspects, and much more. Jeffrey K. Dellinger (Fort Wayne, IN), a Fellow of the Society of Actuaries and a member of the American Academy of Actuaries, has over 25 years experience in the financial services sector. He advises institutions on retirement income optimization, products, and markets.
Author : Gregorio Impavido
Publisher : World Bank Publications
ISBN 13 :
Total Pages : 47 pages
Book Rating : 4./5 ( download)
Download or read book The Mexican Pension Annuity Market written by Gregorio Impavido and published by World Bank Publications. This book was released on 2007 with total page 47 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper analyzes the performance and development of the Mexican pension annuity market established as a consequence of the 1997 pension reform. The Mexican experience displays interesting characteristics providing lessons for other countries that still need to design the decumulation phase of their newly established second pillars. At the same, time it raises some technical and policy concerns that need addressing as they could hamper, in the future, the healthy development of the market. The paper concludes that: 1) general life insurance companies may better hedge longevity risk than specialized annuity companies; 2) competition should be based on prices rather than additional products; 3) better disclosure of options under the 1973 and 1997 social security laws should be given to disability and life annuitants; and 4) various measures should be taken to improve asset liability management including allowing companies to trade over the counter derivatives and substituting over time the regulatory asset liability management framework with an economic asset liability management framework.
Author : Charles Sutcliffe
Publisher : Springer
ISBN 13 : 1349948632
Total Pages : 325 pages
Book Rating : 4.3/5 (499 download)
Download or read book Finance and Occupational Pensions written by Charles Sutcliffe and published by Springer. This book was released on 2016-11-25 with total page 325 pages. Available in PDF, EPUB and Kindle. Book excerpt: Occupational pensions are major participants in global financial markets with assets of well over $30 trillion, representing more than 40% of the assets of institutional investors. Some occupational pension funds control assets of over $400 billion, and the largest 300 occupational pension funds each have average assets of over $50 billion. The assets of UK pension funds are equivalent to UK GDP, and US pension fund assets are 83% of US GDP. These statistics highlight the importance of pension funds as major players in financial markets, and the need to understand the behaviour of these large institutional investors. Occupational pensions also play an important, but neglected, role in corporate finance. For example, US company pension schemes account for over 60% of company market value, and yet they are often ignored when analysing companies. This book is based on the substantial body of evidence available from around the world on a topic that has become increasingly important and controversial in recent years. Written for practitioners, students and academics, this book brings together and systematizes a very large international literature from financial economists, actuaries, practitioners, professional organizations, official documents and reports. The underlying focus is the application of the principles of financial economics to occupational pensions, including the work of Nobel laureates such as Merton, Markowitz, Modigliani, Miller and Sharpe, as well as Black. This book will give readers an up-to-date understanding of occupational pensions, the economic issues they face, and some suggestions of how these issues can be tackled. The first section explains the operation of defined benefit and defined contribution pensions, along with some descriptive statistics. The second section covers selected aspects of occupational pensions. The focus of these first two sections is on the economic and financial aspects of pensions, accompanied by some basic information on how they operate. This is followed by three further sections that analyse the investment of pension funds, the corporate finance implications of firms providing pensions for their employees, and annuities.
Author : United States. Internal Revenue Service
Publisher :
ISBN 13 :
Total Pages : 32 pages
Book Rating : 4.3/5 (126 download)
Download or read book Pension and Annuity Income written by United States. Internal Revenue Service and published by . This book was released on 1990 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Edmund Cannon
Publisher : OUP Oxford
ISBN 13 : 0191607592
Total Pages : 316 pages
Book Rating : 4.1/5 (916 download)
Download or read book Annuity Markets written by Edmund Cannon and published by OUP Oxford. This book was released on 2008-10-02 with total page 316 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Pension Crisis concerns the changing demographic profile of the economy: an increasing number of elderly persons supported by fewer young people. Governments around the world are responding to this impending crisis by shifting their pension policies away from pay-as-you-go systems towards individual savings schemes. These savings need to be converted into a pension at retirement, and annuities provide this function. This book is a comprehensive study of annuity markets. The book starts by outlining the context of public policy towards pensions, and explains the different types of annuities available, focusing on the UK which has the largest annuity market in the world. It examines how annuities are priced, and describes the techniques of mortality measurement. As a background, it provides a history of annuities, and the experience of annuity markets in a number of other countries. The book outlines the economic theory behind annuities, and explains how annuities insure consumers against longevity risks. It goes on to describes how annuities markets function: how they work, and whether they are efficient, leading onto a discussion of the annuity puzzle. The book concludes by discussing the regulatory framework, assets available to back annuity liabilities, and recent developments in annuity markets.
Author : Kerry Pechter
Publisher : John Wiley & Sons
ISBN 13 : 1394168608
Total Pages : 375 pages
Book Rating : 4.3/5 (941 download)
Download or read book Annuities For Dummies written by Kerry Pechter and published by John Wiley & Sons. This book was released on 2023-06-14 with total page 375 pages. Available in PDF, EPUB and Kindle. Book excerpt: Looking for steady retirement income? Read this book! Turning retirement savings into a steady income is a big step toward a worry-free retirement. This book introduces you to how to add annuities to your investment mix. It helps you evaluate how to select the best annuities for your needs and steer clear of the worst. You’ll learn how different types of annuities can help you turn your retirement savings into a monthly paycheck, protect your investments from market ups and downs, postpone taxes, stay in your home for the rest of your life, and even buy long-term care insurance for less.. Written by an annuity thought leader who is a frequent guest-expert on webcasts, podcasts and radio broadcasts as well as editor and publisher of Retirement Income Journal, the book offers the knowledge earned from interviews with hundreds of annuity industry insiders on their own turf. Get insight into which annuities do (or don’t) provide near-retirees and retirees with solid value. Stretch your savings into lifelong income Ask smarter questions when talking to an agent, broker or adviser Retire with less anxiety about the market Feel more in control of your financial life Annuities For Dummies is the must-have guide for anyone making retirement plans or managing their retirement savings.
Author : Wade Donald Pfau
Publisher : Retirement Researcher Guid
ISBN 13 : 9781945640063
Total Pages : 368 pages
Book Rating : 4.6/5 (4 download)
Download or read book Safety-First Retirement Planning written by Wade Donald Pfau and published by Retirement Researcher Guid. This book was released on 2019-10 with total page 368 pages. Available in PDF, EPUB and Kindle. Book excerpt: Two fundamentally different philosophies for retirement income planning, which I call probability-based and safety-first, diverge on the critical issue of where a retirement plan is best served: in the risk/reward trade-offs of a diversified and aggressive investment portfolio that relies primarily on the stock market, or in the contractual protections of insurance products that integrate the power of risk pooling and actuarial science alongside investments. The probability-based approach is generally better understood by the public. It advocates using an aggressive investment portfolio with a large allocation to stocks to meet retirement goals. My earlier book How Much Can I Spend in Retirement? A Guide to Investment-Based Retirement Strategies provides an extensive investigation of probability-based approaches. But this investments-only attitude is not the optimal way to build a retirement income plan. There are pitfalls in retirement that we are less familiar with during the accumulation years. The nature of risk changes. Longevity risk is the possibility of living longer than planned, which could mean not having resources to maintain the retiree's standard of living. And once retirement distributions begin, market downturns in the early years can disproportionately harm retirement sustainability. This is sequence-of-returns risk, and it acts to amplify the impacts of market volatility in retirement. Traditional wealth management is not equipped to handle these new risks in a fulfilling way. More assets are required to cover spending goals over a possibly costly retirement triggered by a long life and poor market returns. And yet, there is no assurance that assets will be sufficient. For retirees who are worried about outliving their wealth, probability-based strategies can become excessively conservative and stressful. This book focuses on the other option: safety-first retirement planning. Safety-first advocates support a more bifurcated approach to building retirement income plans that integrates insurance with investments, providing lifetime income protections to cover spending. With risk pooling through insurance, retirees effectively pay an insurance premium that will provide a benefit to support spending in otherwise costly retirements that could deplete an unprotected investment portfolio. Insurance companies can pool sequence and longevity risks across a large base of retirees, much like a traditional defined-benefit company pension plan or Social Security, allowing for retirement spending that is more closely aligned with averages. When bonds are replaced with insurance-based risk pooling assets, retirees can improve the odds of meeting their spending goals while also supporting more legacy at the end of life, especially in the event of a longer-than-average retirement. We walk through this thought process and logic in steps, investigating three basic ways to fund a retirement spending goal: with bonds, with a diversified investment portfolio, and with risk pooling through annuities and life insurance. We consider the potential role for different types of annuities including simple income annuities, variable annuities, and fixed index annuities. I explain how different annuities work and how readers can evaluate them. We also examine the potential for whole life insurance to contribute to a retirement income plan. When we properly consider the range of risks introduced after retirement, I conclude that the integrated strategies preferred by safety-first advocates support more efficient retirement outcomes. Safety-first retirement planning helps to meet financial goals with less worry. This book explains how to evaluate different insurance options and implement these solutions into an integrated retirement plan.
Author : Jay A. Soled
Publisher : American Bar Association
ISBN 13 : 9781590310946
Total Pages : 348 pages
Book Rating : 4.3/5 (19 download)
Download or read book Estate Planning Strategies written by Jay A. Soled and published by American Bar Association. This book was released on 2002 with total page 348 pages. Available in PDF, EPUB and Kindle. Book excerpt: This comprehensive book is a guide to help circumnavigate the estate-planning world and specific changes EGTRRA has brought and will sensitize lawyers to the estate planning needs of their clients in a legal environment that is in transition. To assist in the navigation process, many of the nation's top estate-planning experts and practitioners have been assembled to participate in the production of this book
Download or read book Kiplinger's Personal Finance written by and published by . This book was released on 2001-10 with total page 132 pages. Available in PDF, EPUB and Kindle. Book excerpt: The most trustworthy source of information available today on savings and investments, taxes, money management, home ownership and many other personal finance topics.
Author : Great Britain: Parliament: House of Commons: Committee of Public Accounts
Publisher : The Stationery Office
ISBN 13 : 9780215044129
Total Pages : 52 pages
Book Rating : 4.0/5 (441 download)
Download or read book Equity investment in privately financed projects written by Great Britain: Parliament: House of Commons: Committee of Public Accounts and published by The Stationery Office. This book was released on 2012-05-02 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt: This report examines the risks and rewards for private equity investors in government private finance projects. The Private Finance Initiative (PFI) model has been used by governments in some 700 projects over the last 20 years but defects, including failures to demonstrate the value for money case satisfactorily, the use of long inflexible contracts and the costly contracting process, and inefficient pricing of equity have made continuing with the current model unsustainable. The Treasury is currently reviewing the PFI model. It needs to improve flexibility in the way that private finance is used, establishing quicker and more efficient procurement procedures and achieving a better balance between investors' risks and their rewards. Private finance should only be used where it secures real value for money for the taxpayer, not because of definitional statistical incentives to get projects off the balance sheet (only some 20% of long term PFI liabilities are recorded as debt in the national accounts). Business cases must be an unbiased and transparent assessment of the best form of procurement for the particular project being undertaken, taking account of expected tax receipts from alternative options and not adjusting assumptions to bias the outcome of the assessment. The Treasury needs to collect data on investors' experiences and use this information to assess and challenge investors' returns. There needs to be greater transparency over the pricing of contracts, and inefficiencies which add to the cost of private deals, such as long procurement times, need to be addressed.
Author : Felix Hufeld
Publisher : Oxford University Press
ISBN 13 : 0191093173
Total Pages : 247 pages
Book Rating : 4.1/5 (91 download)
Download or read book The Economics, Regulation, and Systemic Risk of Insurance Markets written by Felix Hufeld and published by Oxford University Press. This book was released on 2016-10-28 with total page 247 pages. Available in PDF, EPUB and Kindle. Book excerpt: Despite the importance of insurance in enabling individual and collective social, economic, and financial activities, discussions about the macroeconomic role and risks of insurance markets are surprisingly limited. This book brings together academics, regulators, and industry experts to provide a multifaceted array of research and perspectives on insurance, its role and functioning, and the potential systemic risk it could create. The first part discusses the macroeconomic role of insurance and how insurance is different from banking and general finance. Understanding the differences between the balance sheets of insurers and other financial intermediaries is essential for understanding the potential differences in risk nature and optimal regulation. The second part of the book focuses on the risks managed by the insurance sector and the potential for systemic risk. The chapters discuss the risks both on the asset and liability sides of insurers' balance sheets. The third part of the book covers the impact of regulation on insurance companies. Existing regulation is often complex and has a large impact on insurance companies' decision-making and functioning. The chapters also illustrate the unintended consequences of various forms of regulation. The book concludes with a summary of a survey that has been conducted in collaboration with McKinsey, where insurance executives have been asked about the risks and regulation in the insurance sector. The survey provides guidance for future research on insurance markets.
