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Life Annuity Products and Their Guarantees

Published on December 05, 2016

This publication helps policy makers to better understand annuity products and the guarantees they provide in order to optimise the role that these products can play in financing retirement. Product design is a crucial factor in the potential role of annuity products within the pension system, along with the cost and demand for these products, and the resulting risks that are borne by the annuity providers. Increasingly complex products, however, pose additional challenges concerning consumer protection. Consumers need to be aware of their options and have access to unbiased and comprehensible advice and information about these products.


Executive Summary
What is an annuity product?
Overview of the different types of annuity products
The risks presented by annuity products and how they are managed
Drivers of annuity product availability, design and sustainability
Ensuring suitable products for consumers
Policy considerations with respect to annuity products
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This publication complements the 2016 edition of the OECD Pensions Outlook.