Australia's piece of the puzzle - why don't Australians buy annuities?

Aaron Bruhn, Taleitha O'Meara, Aakansha Sharma

    Research output: Contribution to journalArticlepeer-review

    Abstract

    An individual who purchases a lifetime annuity is guaranteed to receive an income for life. As such this purchase would confer protection against investment and longevity risk for the individual in retirement. Despite these advantages, annuity sales in voluntary markets generally remain low. Reasons for this state of affairs from the current literature are reviewed, and further reasons particular to the Australian context are suggested. This contributes to an understanding of the factors that underlie the lack of popularity in contexts other than Australia as well.
    Original languageEnglish
    Pages (from-to)47-57
    JournalAustralian Journal of Actuarial Practice
    Volume3
    Publication statusPublished - 2015

    Fingerprint

    Dive into the research topics of 'Australia's piece of the puzzle - why don't Australians buy annuities?'. Together they form a unique fingerprint.

    Cite this