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Article

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Published version

Publication date

2020-11-12

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cc-by-nc-nd (c) Universidade de Santiago de Compostela, 2020
Please use this identifier to cite or link to this item: https://hdl.handle.net/2445/172353

Enhanced annuities as a complement to the public retirement pension: analysis of their implementation in Spain [written in Spanish]

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Related resource

https://doi.org/10.15304/rge.29.3.6649

Abstract

Enhanced annuities are non-deferred annuities that, by considering risk factors of the insured person in addition to their age, can provide a greater periodic pay-out than that of standard annuities. Given current demographic trends and the associated longevity risk, enhanced annuities, widely introduced in the United Kingdom, can become an important market niche in countries where their sale levels are low or non-existing, as is the case of Spain. In this work, we describe some key aspects of enhanced annuities. A quantitative analysis is also carried out. To do so, we focus on determining the pay-outs to be received, based on the consideration of a mortality table fitted to the annuitant's life expectancy. Finally, the main drivers of and barriers to the demand and supply of this product are exposed, considering the particular situation of Spain.

Subject

Pensions a la vellesa, Longevitat, Investigació quantitativa, Assegurances de vida

Subject (English)

Old age pensions, Longevity, Quantitative research, Life insurance

Citation

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Articles publicats en revistes (Matemàtica Econòmica, Financera i Actuarial)

Citation

ANDRÉS SÁNCHEZ, Jorge de and GONZÁLEZ-VILA PUCHADES, Laura. Enhanced annuities as a complement to the public retirement pension: analysis of their implementation in Spain [written in Spanish]. Revista Galega de Economía . 2020. Vol. 29, num. 3, pags. 1-19. ISSN 1132-2799. [consulted: 11 of August of 2026]. Available at: https://hdl.handle.net/2445/172353

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