Financial Education and Annuities [E-Book] / Jeffrey R. Brown
Brown, Jeffrey R..
Paris : OECD Publishing, 2009
44 p.
Full Text
Life annuities – financial products that help individuals convert a lump-sum of wealth into a guaranteed life-long income stream – have an important role to play in providing a secure source of retirement income. Because annuities provide valuable insurance against longevity risk, much of the theoretical work in economics suggests that life annuities ought to comprise a large share of the retirement portfolios of most households. Yet around the world, voluntary annuity markets remain small.