The role of annuities in the New Zealand retirement incomes policy mix
Converting assets to income in an orderly fashion will become an increasingly important issue for the ageing populations and economies of many nations.
Wednesday, August 28th 2013, 11:41AM
by Ralph Stewart
Conventional annuities have many weaknesses, not least a diminishing supply of long bonds from governments.
However, without a sharing of longevity risk the task of achieving a satisfactory income in old age will become impossible for many.
Furthermore, it is likely that such sharing will have to become intra rather than intergenerational (as it is now) if it is to be workable in the future.(Wadsworth, Findlater & Boardman, 2001, p.3)
MORE>> http:www.treasury.govt.nz/publications/reviews.../prg/.../prg-ssj-ranzripm.pdf
Ralph Stewart is a director of NZ Income.
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