Erschienen in:Pension Research Council Working Paper ; No. 2010-22
Umfang:
1 Online-Ressource (37 p)
Sprache:
Englisch
DOI:
10.2139/ssrn.1707476
Identifikator:
Entstehung:
Anmerkungen:
Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments September 11, 2010 erstellt
Beschreibung:
This chapter describes the operation of both the compulsory pension annuity and voluntary annuity markets in the U.K. and evaluates prices using a money's worth approach. We find that the money's worth was about 0.90 to 2004 but it then fell to about 0.80, although there is uncertainty about the appropriate mortality table. We suggest that the level of the money's worth is comparable to that of other financial products and we consider possible reasons for the recent fall