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Guaranteed Annuity Options: Five Issues for Resolution
Published online by Cambridge University Press: 10 June 2011
Abstract
This paper considers five issues arising from guaranteed annuity options in pension policies issued by United Kingdom life assurance companies. These are the investment strategies for such options, the implications for bonuses on with-profits policies, the measurement of the solvency position and preparation of accounts of the companies concerned, and the policy debate on compulsory annuitisation. In particular, the paper highlights the impact of improving mortality on the value of options, comments on the House of Lords judgment in the Equitable Life case, and suggests additional disclosures in the accounts of life assurance companies.
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- Sessional meetings: papers and abstracts of discussions
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- Copyright © Institute and Faculty of Actuaries 2002
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