variable annuity, aggregate mortality risk, risk aversion

Publication date: 29 Aug 2008 | Publication type: NIESR Discussion Paper | Authors: Van de Ven, J, Weale, M | JEL classification: D14, D91, J11, J14 | NIESR discussion paper number: 322
This paper discusses the way in which payments from pooled annuity funds need to be adjusted to take account of the fact that future mortality rates are uncertain. Mortalityadjusted annuities, as we describe payments from the pooled fund are variable annuities in which aggregate mortality risk is...