Sharing longevity risk : why governments should issue longevity bonds

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      <subfield code="a">Sharing longevity risk</subfield>
      <subfield code="b">: why governments should issue longevity bonds</subfield>
      <subfield code="c">David Blake, Tom Boardman, Andrew Cairns</subfield>
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      <subfield code="a">Government-issued longevity bonds would allow longevity risk to be shared efficiently and fairly between generations. In exchange for paying a longevity risk premium, the current generation of retirees can look to future generations to hedge their systematic longevity risk. Longevity bonds will lead to a more secure pension savings market, together with a more efficient annuity market. By issuing longevity bonds, governments can aid the establishment of reliable longevity indices and key price points on the longevity risk term structure and help the emerging capital market in longevity-linked instruments to build on this term structure with liquid longevity derivatives.

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      <subfield code="g">03/02/2014 Tomo 18 Número 1 - 2014 </subfield>
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