scholarly journals Adverse Selection in the Annuity Market and the Role for Social Security

2015 ◽  
Vol 123 (4) ◽  
pp. 941-984 ◽  
Author(s):  
Roozbeh Hosseini
Keyword(s):  
Social Security ◽  
Adverse Selection ◽  
Annuity Market

scholarly journals Evidence on Annuity Choices in Chile

2020 ◽  
Vol 19 (1) ◽  
pp. 33 ◽  
Author(s):  
José Luis Ruiz
Keyword(s):  
Labor Market ◽  
Adverse Selection ◽  
Pension System ◽  
Poor Health ◽  
Traditional View ◽  
Annuity Market ◽  
Using Data ◽  
Sales Agents ◽  
Minimum Pension

This study analyzes the empirical determinants of the annuity choice using data on retirees from the Chilean labor market. We find that sales agents, knowledge about the pension system, and greater education will be associated with an increase in the annuitization probability. Also, we expect that people in poor health are less likely to annuitize, which is supportive of the traditional view of adverse selection in the annuity market. Finally, we analyze the effects on annuity choices of the introduction of a Minimum Pension Guarantee.

scholarly journals Opting Out of Social Security and Adverse Selection

10.3386/w6430 ◽  
1998 ◽  
Author(s):  
Laurence Kotlikoff ◽  
Kent Smetters ◽  
Jan Walliser
Keyword(s):  
Social Security ◽  
Adverse Selection ◽  
Opting Out

scholarly journals Price efficiency in the Dutch Annuity Market

2013 ◽  
Vol 14 (1) ◽  
pp. 1-18 ◽  
Author(s):  
EDMUND CANNON ◽  
RALPH STEVENS ◽  
IAN TONKS
Keyword(s):  
Life Expectancy ◽  
The Netherlands ◽  
Adverse Selection ◽  
International Standards ◽  
Price Efficiency ◽  
Annuity Market ◽  
Conflicting Evidence

AbstractWe provide the first analysis of annuity rates in the Netherlands for the period 2001–2012. During this period, the number of annuity providers was high and stable, and we find that falls in annuity rates can be explained entirely by changes in yields and life expectancy. We show that annuitants could have increased their annuity income by about 5%, by shopping around and purchasing their annuities from alternative providers. Money's worth calculations show that the market is efficient by international standards, with a money's worth above 0.9 for the whole period and close to unity by the end of the period. We present conflicting evidence on the existence of adverse selection because although we find money's worths are inversely related to age of purchase, we find that they are positively related to size of purchase.

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