Author: Olivia S. Mitchell Publisher: ISBN: Category : Annuities Languages : en Pages : 60
Book Description
Substantial research attention has been devoted to the pension accumulation process, whereby employees and those advising them work to accumulate funds for retirement. Until recently, less analysis has been devoted to the pension decumulation process -- the process by which retirees finance their consumption during retirement. This gap has recently begun to be filled by an active group of researchers examining key aspects of the pension payout market. One of the areas of most interesting investigation has been in the area of annuities, which are financial products intended to cover the risk of retirees outliving their assets. This paper reviews and extends recent research examining the role of annuities in helping finance retirement consumption. We also examine key market and regulatory factors.
Author: Noriyuki Takayama Publisher: ISBN: 9780191729119 Category : Financial risk management Languages : en Pages : 231
Book Description
As it becomes increasingly important to evaluate the risks and opportunities presented by an aging population, this book discusses products that manage longevity risk, the structure and safety of these products, and how policy can stimulate and strengthen them, within both emerging and older economies.
Author: National Research Council Publisher: National Academies Press ISBN: 0309261961 Category : Social Science Languages : en Pages : 230
Book Description
The United States is in the midst of a major demographic shift. In the coming decades, people aged 65 and over will make up an increasingly large percentage of the population: The ratio of people aged 65+ to people aged 20-64 will rise by 80%. This shift is happening for two reasons: people are living longer, and many couples are choosing to have fewer children and to have those children somewhat later in life. The resulting demographic shift will present the nation with economic challenges, both to absorb the costs and to leverage the benefits of an aging population. Aging and the Macroeconomy: Long-Term Implications of an Older Population presents the fundamental factors driving the aging of the U.S. population, as well as its societal implications and likely long-term macroeconomic effects in a global context. The report finds that, while population aging does not pose an insurmountable challenge to the nation, it is imperative that sensible policies are implemented soon to allow companies and households to respond. It offers four practical approaches for preparing resources to support the future consumption of households and for adapting to the new economic landscape.
Author: Franck Nicolas Publisher: Wspc/Ecnup ISBN: 9789813272002 Category : Finance, Personal Languages : en Pages : 0
Book Description
The issue of pension financing is evolving everywhere, becoming more of a corporate or individual matter rather than a state one. Demographic changes are making sharing mechanisms hard to control, and social deficits often lead governments to pull back from their obligations. This raises many questions for the individual: At what age should I start saving? When should I increase or reduce my savings? How do I secure my income? What products should I choose to supplement my pension and savings? What degree of risk should I take on? Despite the burden for securing one's retirement increasingly placed on individuals, many are often badly prepared to tackle this very long savings process, which is often complicated by the specific characteristics of a pension plan. This publication, intended for investment professionals, customer advisors, and individuals interested in personal finance and asset management, looks at some of the fundamental elements of investment strategies and techniques for retirement.
Author: National Research Council Publisher: National Academies Press ISBN: 0309170877 Category : Social Science Languages : en Pages : 326
Book Description
Aging is a process that encompasses virtually all aspects of life. Because the speed of population aging is accelerating, and because the data needed to study the aging process are complex and expensive to obtain, it is imperative that countries coordinate their research efforts to reap the most benefits from this important information. Preparing for an Aging World looks at the behavioral and socioeconomic aspects of aging, and focuses on work, retirement, and pensions; wealth and savings behavior; health and disability; intergenerational transfers; and concepts of well-being. It makes recommendations for a collection of new, cross-national data on aging populationsâ€"data that will allow nations to develop policies and programs for addressing the major shifts in population age structure now occurring. These efforts, if made internationally, would advance our understanding of the aging process around the world.
Author: Olivia S. Mitchell Publisher: Oxford University Press ISBN: 0198808038 Category : Business & Economics Languages : en Pages : 249
Book Description
This volume will explore how financial decision-making changes at older ages, how and when financial advice can be useful for the older population, and what solutions and opportunities are needed to resolve the likely problems that will arise.
Author: Collectif Publisher: OECD ISBN: 9264267794 Category : Business & Economics Languages : en Pages : 108
Book Description
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: Martha Craven Nussbaum Publisher: Oxford University Press ISBN: 0190600233 Category : Family & Relationships Languages : en Pages : 265
Book Description
"Features dueling essays by leading figures in philosophy, law, and economics; each essay employs a wealth of fictional and real world examples to address the topic of aging; covers a wide range of questions that confront one facing the last third of life"--Publisher's website
Author: Wai-sum Chan Publisher: World Scientific ISBN: 9811243298 Category : Business & Economics Languages : en Pages : 366
Book Description
This book provides a thorough understanding of the fundamental concepts of financial mathematics essential for the evaluation of any financial product and instrument. Mastering concepts of present and future values of streams of cash flows under different interest rate environments is core for actuaries and financial economists. This book covers the body of knowledge required by the Society of Actuaries (SOA) for its Financial Mathematics (FM) Exam.The third edition includes major changes such as an addition of an 'R Laboratory' section in each chapter, except for Chapter 9. These sections provide R codes to do various computations, which will facilitate students to apply conceptual knowledge. Additionally, key definitions have been revised and the theme structure has been altered. Students studying undergraduate courses on financial mathematics for actuaries will find this book useful. This book offers numerous examples and exercises, some of which are adapted from previous SOA FM Exams. It is also useful for students preparing for the actuarial professional exams through self-study.
Author: Olivia S. Mitchell
Author: Kevin G. Kinsella
Author: Noriyuki Takayama
Author: National Research Council
Author: Franck Nicolas
Author: National Research Council
Author: Olivia S. Mitchell
Author: Collectif
Author: Martha Craven Nussbaum
Author: Wai-sum Chan