The Effect of the Reforms to Compulsion on Annuity Demand

被引：6

作者：

Cannon, Edmund ^{[1
]}

Tonks, Ian ^{[2
]}

Yuille, Rob ^{[3
]}

机构：

[1] Univ Bristol, Bristol BS8 1TH, Avon, England

[2] Univ Bath, Bath BA2 7AY, Avon, England

[3] Assoc British Insurers, London, England

来源：

NATIONAL INSTITUTE ECONOMIC REVIEW | 2016年 / 237卷 / 01期

关键词：

insurance markets; annuities; drawdown;

D O I：

10.1177/002795011623700116

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

This paper investigates the effect of recent regulatory changes to the compulsory annuitisation of tax-privileged pension savings, on the demand for annuities and other retirement products. We find that the demand for annuities has fallen by almost 75 per cent from its peak in 2012, and the demand for income drawdown products has increased. There is some evidence that people at younger ages and with smaller pension pots are choosing not to annuitise, and hence the average size of an annuity purchase has increased.

引用

页码：R47 / R54

页数：8

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