Retirement income products: A concise summary

[摘要] While it is recognised that Australia has a world class superannuation system for retirement savings accumulation, the decumulation phase is yet to be fully developed. Retirement income products offered by insurance companies are crucial in helping retirees to obtain income streams that are tailored for their own need. In this report we provide a summary of different types and payoff structures of retirement income products. It includes standard life annuities, term annuities, deferred annuities, guaranteed annuities, joint life and last survivor annuities, equity-indexed annuities as well as variable annuities. We also provide the fair pricing of these contracts. It is our aim that this article will serve as a quick reference and a concise summary for the expanding universe of retirement income products.

[发布日期] 2015-06-29 [发布机构] CSIRO

[学科分类] 地球科学(综合)