Facing up to longevity with old actuarial methods : a comparison of pooled funds and income tontines

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<dc:creator>Bräutigan, Marcel</dc:creator>
<dc:creator>Guillén, Montserrat</dc:creator>
<dc:creator>Nielsen, Jens P.</dc:creator>
<dc:date>2017-06-26</dc:date>
<dc:description xml:lang="es">Sumario: We compare the concepts underlying modern actuarial solutions to pension insurance and present two recently developed pension products - pooled annuity overlay funds (based on actuarial fairness) and equitable income tontines (based on equitability). These two products adopt specific approaches to the management of longevity risk by mutualising it among participants rather than transferring it completely to the insurer. As the market would appear to be ready for such innovations, our study seeks to establish a general framework for their introduction. We stress that the notion of actuarial fairness, which characterises pooled annuity overlay funds, enables participants to join and exit the fund at any time. Such freedom of action is a quite remarkable feature and one that cannot be matched by lifelong contracts.</dc:description>
<dc:identifier>https://documentacion.fundacionmapfre.org/documentacion/publico/es/bib/161459.do</dc:identifier>
<dc:language>eng</dc:language>
<dc:rights xml:lang="es">InC - http://rightsstatements.org/vocab/InC/1.0/</dc:rights>
<dc:subject xml:lang="es">Pensiones</dc:subject>
<dc:subject xml:lang="es">Jubilación</dc:subject>
<dc:subject xml:lang="es">Longevidad</dc:subject>
<dc:subject xml:lang="es">Ageingnomics. Economia senior</dc:subject>
<dc:type xml:lang="es">Artículos y capítulos</dc:type>
<dc:title xml:lang="es">Facing up to longevity with old actuarial methods : a comparison of pooled funds and income tontines</dc:title>
<dc:format xml:lang="es">17 p.</dc:format>
<dc:relation xml:lang="es">En: Geneva papers on risk and insurance : issues and practice. - Geneva : The Geneva Association, 1976- = ISSN 1018-5895. - 03/07/2017 Volumen 42 Número 3 - julio 2017 , p. 406-422</dc:relation>
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