01603pab a2200193 454500 180718b2003 xxu||||| |||| 00| 0 eng d James, Estelle Annuity market in India: what are the key public policy issues? 2003 p.729-40. 22 Feb Annuities markets around the world are small but are likely to grow as a result of reforms in the public social security systems and private pensions plans, which partially replace the defined benefit plans with funded defined contribution plans. When people retire, they may choose or are sometimes required to annuitise these defined contribution savings. Therefore, it is important to learn whether or not annuities markets exist and what kinds of market failure can be anticipated. Several papers have analysed markets in the US, UK, Canada, Switzerland, Australia, Israel, Chile and singapore. This paper extends the analyses of the expected present discounted value (EPDV) of cash flows from the annuity, and the money's worth ratio (MWR), which is the EPDV divided by the initial premium cost. It points to several key weaknesses in the annuities market that need to be corrected to enable the development of a healthy annuity industry in India. It also summarises some of the key policy choices that must be made to enable it to play an effective role in the broader pension reform. - Reproduced. Public policy - India Pensions - India Pensions Sane, Renuka Economic and Political Weekly 55766 55766 55766 0 0 0 0 IIPA IIPA 2018-07-19 Volume no: 38, Issue no: 8 AR56211 2018-07-19 2018-07-19 AR