Overview
The research looks at the design and market considerations for pooled lifetime income products. It highlights-long term investment volatility and idiosyncratic (personal) mortality risks and alternative ways of managing them.
Acknowledgements
The researcher’s gratitude goes to those without whose efforts this project could not have come to fruition, especially Grant Martin and Steve Siegel for their diligent work overseeing, reviewing, and editing this report for accuracy and relevance.
Project Oversight Group members
David Cantor, ASA
Shuai Jiang
Grant Martin, FSA, CERA, EA, FCA
Mark Shemtob, FSA, MAAA, EA, MSPA
Alicia Traviss, FSA, MAAA, EA, FCA
He also thanks the following for their comments on and corrections of earlier drafts.
Brnic Van Wyk
Deane Moore
At the Society of Actuaries Research Institute
Barbara Scott, Senior Research Administrator
Steve Siegel, Senior Practice Research Actuary
FAQ
Pooled lifetime income products (PLIPs) are financial instruments used to fund retirement, and they include minimal guarantees and require little capital. Their design involves sharing risk and costs between policyholders and pension fund members and the recipients of the investments.