A novel retirement plan design, called TimePension (“Tidspension” in Danish) uses a buffer account to smooth out market volatility and ensure a stable income in retirement.
At the LIMRA-Society of Actuaries Retirement Industry Conference in Baltimore last week, Scott Stolz from Raymond James, Greg Jaeck from Edward Jones and Jarrod Fisher from Simplicity Financial Distributors delivered frank opinions about annuities and annuity issuers.
Many factors are driving the increase in indexed annuity sales: More manufacturers, better products, more distributors, competitive commissions, aging boomers, and relaxed regulation. But does the bubble contain the seeds of its own deflation?
Israel has found that even a mandatory defined contribution system can’t resolve all of the behavioral, economic, or administrative issues that prevent low-income and minority workers from saving for retirement. (Photo: Mahane Yehuda market in Jerusalem.)
The Journal of Retirement is a new quarterly publication from Institutional Investor Journals. In this three-minute video-taped interview, editor George 'Sandy' Mackenzie describes the aims of the publication, whose first issue is now available.
'Smoothed income annuities' represent an entirely new retirement and wealth accumulation strategy for the private and occupational pension markets in the U.S., writes Danish actuary Per Linnemann, Ph.D.
So far, mutual insurers with captive agent forces have dominated the DIA space, so it may be significant that Lincoln, a publicly-held company with a big third-party distribution network, has jumped on the DIA bandwagon.
New York Life was the top-seller of fixed annuities in 2Q 2013, followed by Security Benefit Life, Allianz, American Equity and Great American Life, according to Beacon Research.
New York Life remains the leading seller of fixed immediate annuities, with 32% of the market for first quarter 2013, and is the leader in sales of deferred income annuities, with 46% of the market for first quarter 2013, according to industry sources.
Spain’s employment minister, Fatima Bañez, stressed that there would be no hike in the legal retirement age in Spain – which currently stands at 67 and is among the highest in Europe.
"If, before every action, we were to begin by weighing up the consequences, thinking about them in earnest, first the immediate consequences, then the probable, then the possible, then the imaginable ones, we should never move beyond the point where our first thought brought us to a halt." -- from "Blindness," by Jose Saramago.