As life expectancy rises, the importance of saving for an adequate retirement income is increasing (Mitchell and Lusardi, Financial literacy: Implications for retirement security and the financial marketplace. Oxford University Press, 2011). This chapter discusses what can be done to ensure that individuals get longevity products that meet their needs, and that appropriate consumer protection is in place. The increasing complexity and risk-sharing of different longevity, decumulation and annuity products presents many challenges in ensuring that individuals are aware of the products available, have access to the best product for their needs and understand the products they buy and the costs and risks involved (Milevsky, King William’s tontine: Why the retirement annuity of the future should resemble its past. Cambridge University Press, 2015).

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Financial Planning for Longevity

  • Silvio Sulser

摘要

As life expectancy rises, the importance of saving for an adequate retirement income is increasing (Mitchell and Lusardi, Financial literacy: Implications for retirement security and the financial marketplace. Oxford University Press, 2011). This chapter discusses what can be done to ensure that individuals get longevity products that meet their needs, and that appropriate consumer protection is in place. The increasing complexity and risk-sharing of different longevity, decumulation and annuity products presents many challenges in ensuring that individuals are aware of the products available, have access to the best product for their needs and understand the products they buy and the costs and risks involved (Milevsky, King William’s tontine: Why the retirement annuity of the future should resemble its past. Cambridge University Press, 2015).