(UBS Pensions series 8) UK Annuity Rates and Pension Replacement Ratios 1957 - 2002
(UBS Pensions series 8) UK Annuity Rates and Pension Replacement Ratios 1957 - 2002
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（瑞银养老金系列 8）1957 - 2002 年英国年金率和养老金替代率
DOI：
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发表时间：
2003
期刊：
影响因子：
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通讯作者：
Ian Tonks
中科院分区：
文献类型：
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作者：
Ian Tonks
本文构建了1957 - 2002年英国年金费率的时间序列，通过研究养老金替代率的性质，考察了英国年金的定价，以及固定缴款养老金计划的积累阶段和递减阶段之间的关系。使用数据的年金回报率和其他金融资产的回报率，本文模拟替代率，建立一个频率分布的养老金替代率为英国个人。这些频率分布说明了在典型的固定缴款养老金计划中储蓄的个人所面临的养老金替代率风险。
This paper constructs a time series of annuity rates in the UK for 1957-2002, and examines the pricing of UK annuities, and the relationship between the accumulation and decumulation phases of a defined contribution pension scheme by focusing on the properties of the pension replacement ratio. Using data on annuity returns and the returns on other financial assets, the paper simulates replacement ratios, to build up a frequency distribution of the pension replacement ratio for a UK individual. These frequency distributions illustrate the risk in the pension replacement ratio faced by an individual who saves in a typical defined contribution pension scheme.