Observational analysis compares annuities with retirement income strategies in OECD countries, suggesting better risk management.
Most retirement income strategies force retirees to accept the intrinsic longevity risk, as they manage a volatile investment portfolio, with no knowledge of the time horizon, inflation or spending needs. Annuities are voluntary pension insurance products typically provided by life insurance companies, investment funds, or other financial institutions that can provide retirees income for the remainder of their life. We examine annuities as a way to guarantee income during retirement through a comparison with other retirement strategies in OECD countries.
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Olga Kuzmina (2025) studied this question.
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