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Annuity Markets$
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Edmund Cannon and Ian Tonks

Print publication date: 2008

Print ISBN-13: 9780199216994

Published to Oxford Scholarship Online: January 2009

DOI: 10.1093/acprof:oso/9780199216994.001.0001

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Money's worth calculations

Money's worth calculations

Chapter:
(p.117) 6 Money's worth calculations
Source:
Annuity Markets
Author(s):

Edmund Cannon (Contributor Webpage)

Ian Tonks (Contributor Webpage)

Publisher:
Oxford University Press
DOI:10.1093/acprof:oso/9780199216994.003.0006

This chapter surveys the evidence on whether annuities are fairly priced. It explains the money's worth calculation of annuities, and presents evidence on the money's worth in the UK and in other countries. While there is strong evidence to suggest that annuities are priced slightly higher than would be suggested by actuarial considerations, estimated mark-ups (sometimes called loadings) do not seem excessive compared with the cost of other financial services. There is little evidence to suggest that annuities are over-priced.

Keywords:   fair-pricing, cacluation of annunities, loadings, over-priced

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