Longevity risk management in Singapore's national pension system

Submitted on 29th July 2015

Although annuities are a theoretically appealing way to manage longevity risk, in the real world relatively few consumers purchase them at retirement. To counteract the possibility of retirees outliving their assets, Singapores Central Provident Fund, a national defined contribution pension scheme, has recently mandated annuitization of workers retirement assets. More significantly, the government has entered the insurance market as a public-sector provider for such annuities. This paper evaluates the moneys worth of life annuities and discusses the impact of the government mandate and its role as an annuity provider on the insurance market.


Click here to download the paper

Social Science Research Network
Length of Resource
Joelle H.Y. Fong, Olivia S. Mitchell, and Benedict S. K. Koh
Date Published
Publication Type
Resource Type