Model options for old-age mandatory annuities. Solutions for the annuity phase for the partly funded pension systems

      Аннотация: With great probability the now marginal life annuities becomes an important product in some region of the World within a decade. The reason for the change among many other factors is primarily found in the actual demographic trends and the funding reform of Social Security in the past one-two decades. In the course of these reforms, mandatory individual pension account was introduced, which must be converted into life annuities after a certain period of time. Considering the importance and the complexity of the mandatory life annuities, it is a bit strange, that one can hardly find literature dealing with the subject. Take into consideration some of the existing regulations on these products, the decision makers would really need a guideline about what is possible and what isn’t and how it should establish a coherent regulation. This book intends to help designing a non-contradictory, comprehensive framework and wants be an overall monograph of the topic.

Ключевые слова: differentiation, selection, discrimination, adverse selection, Pension, private pension, annuity, alternative private pension system, mandatory annuity models