000			01603pab a2200193 454500
008			180718b2003 xxu||||| |||| 00| 0 eng d
100			_aJames, Estelle
245			_aAnnuity market in India: what are the key public policy issues?
260			_c2003
300			_ap.729-40.
362			_a22 Feb
520			_aAnnuities 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.
650			_aPublic policy - India
650			_aPensions - India
650			_aPensions
700			_aSane, Renuka
773			_aEconomic and Political Weekly
909			_a55766
999			_c55766 _d55766