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.

• 1: Olivia S. Mitchell and John Piggott: Turning Wealth into Lifetime Income: The Challenge Ahead


• Annuity Markets Around the World


• 2: Edward Palmer and Bo Larsson: The Swedish Annuity Market: Where It Is and Where It's Headed


• 3: Mukul G. Asher and Deepa Vasudevan: Market Structure and Challenges for Annuities in India


• 4: Moshe A. Milevsky and Ling-wu Shao: Annuities and Their Derivatives: The Recent Canadian Experience


• 5: Anthony Webb: The United States Longevity Insurance Market


• 6: Hazel Bateman and John Piggott: Too Much Risk to Insure? The Australian (non-)Market for Annuities


• 7: Jose Ruiz and Olivia S. Mitchell: Pension Payouts in Chile: Past, Present, and Future Prospects


• 8: Barbara Kaschützke and Raimond Maurer: The Private Life Annuity Market in Germany: Products and Money's Worth Ratios


• 9: Junichi Sakamoto: Annuity Markets in Japan


• 10: Edmund Cannon and Ian Tonks: Compulsory and Voluntary Annuity Markets in the United Kingdom


• 11: Monika Bütler and Stefan Staubli: Payouts in Switzerland: Explaining Developments in Annuitization

Olivia S. Mitchell is the International Foundation of Employee Benefit Plans Professor and the Chair of the Department of Insurance and Risk Management; Executive Director of the Pension Research Council; and Director of the Boettner Center on Pensions and Retirement Research at the Wharton School. Her areas of research and teaching are private and public insurance, risk management, public finance and labor markets, and compensation and pensions, with a US and an international focus. She received the Ph.D. degrees in economics from the University of Wisconsin-Madison.
John Piggott is Professor of Economics in the Australian School of Business, University of New South Wales, where he also heads up the Australian Institute for Population Ageing Research. His research examines economic and financial aspects of population aging. He received the Ph.D. in Economics from the University of London.
Noriyuki Takayama is Professor at the Institute of Economic Research with the Hitotsubashi University in Tokyo. His research interests include intergenerational economic issues, public and private pensions, and household saving and wealth formation. He received the Ph.D. from the University of Tokyo.