| Title | Welfare implications for couples of annuity markets incompleteness |
| Subtitle | - |
| Authors | Sanders, L.
De Waegenaere, A. Nijman, T. E. |
| Contributor | - |
| Publication Type | Working paper |
| Topics | - |
| Note | - |
| Abstract | Couples who annuitize can choose between different kinds of annuities. Many couples do not annuitize voluntarily, but they may (be obliged to) save for retirement while working. The accrued pension wealth can be in the form of a single-life annuity or a single-life with survivor annuity. At retirement, the couple is allowed to exchange (part of) the single-life annuity for a survivor annuity or vice versa. However, there may be restrictions on the exchange leading to possible welfare losses. An example of such a restriction is that the husband’s single-life annuity can only be exchanged for a survivor annuity for the wife and not for a single-life annuity for the wife. We analyze the welfare losses couples incur because of such restrictions on the exchange of annuities. We find that the welfare losses can be significant, especially when only one of the spouses has accrued pension rights. |
| Study Unit |
LISS panel > Time Use and Consumption |
| Dataset | - |
| Source | Tilburg University, CentER for Economic Research, Department of Econometrics and OR, Netspar |
| Publisher | - |
| Publication Year | 2010 |
| Copyright | - |
| Intl Identifier | - |
| Language | English |
| URL |  http://www.tilburguniversity.edu/research/institutes-and-research-groups/center/phd_stud/sanders/paper2.pdf |
| Uploaded File | - |
