| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w8091 |
| 来源ID | Working Paper 8091 |
| Annuity Values in Defined Contribution Retirement Systems: The Case of Singapore and Australia | |
| Suzanne Doyle; Olivia S. Mitchell; John Piggott | |
| 发表日期 | 2001 |
| 出版年 | 2001 |
| 语种 | 英语 |
| 摘要 | In this paper we derive and compare the value of life annuity products in an international context. Our specific goal is to assess the money's worth and adverse selection impact of annuities in two countries Singapore and Australia that have mandatory DC-type retirement plans. This similarity in plan type is offset by differences in the two countries' national retirement policies. Our comparison therefore exploits the natural experiment in annuity pricing and purchase behaviour under alternative retirement regimes. The results show that after controlling on administrative loadings, there appear to be important differences in measured adverse selection across countries. Specifically, selection appears to be far stronger in the presence of a generous public benefit scheme that provides a first line of defence against the risk of old-age poverty. |
| 主题 | Financial Economics ; Financial Institutions ; Labor Economics ; Demography and Aging |
| URL | https://www.nber.org/papers/w8091 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/565684 |
| 推荐引用方式 GB/T 7714 | Suzanne Doyle,Olivia S. Mitchell,John Piggott. Annuity Values in Defined Contribution Retirement Systems: The Case of Singapore and Australia. 2001. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w8091.pdf（197KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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