A deferred annuity typically includes an option-like right for the policyholder. At the end of the deferment period, he may either choose to receive annuity payouts, calculated based on a mortality table agreed to at contract inception, or receive the accumulated capital as a lump sum....

We study the decision problem of the optimal choice between home equity release products from a retired homeowner's perspective in the presence of longevity, long-term care, house price, and interest rate risk. The individual can choose to release home equity using reverse mortgages or home...

Many individuals avoid information relevant for retirement planning. This behavior is worrying as pension systems shift risks and responsibilities to individuals. Individuals who avoid pension information fail to discover whether they save too little for retirement, negatively affecting their...