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Overview of the Issue

Author

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  • BROWN, JEFFREY
  • HABERMAN, STEVEN
  • MILEVSKY, MOSHE
  • ORSZAG, MIKE

Abstract

The second issue of the fifth volume of the JPEF features 4 research articles, and a book review section. The first article is by Estelle James, Guillermo Martinez and Augusto Iglesias and looks at: “The payout stage in Chile: Who annuitizes and why?” Low rates of voluntary annuitization are a major issue in defined contribution pension designs. Yet, in Chile, about 2/3 of individuals choose to annuitize instead of taking programmed withdrawals. The paper examines the reasons for this high rate of annuitization and concludes that it is due to the combination of a competitive market in annuities and the relatively constrained alternatives available to individuals. The paper nevertheless finds some evidence of adverse selection in the Chile annuity market.

Suggested Citation

  • Brown, Jeffrey & Haberman, Steven & Milevsky, Moshe & Orszag, Mike, 2006. "Overview of the Issue," Journal of Pension Economics and Finance, Cambridge University Press, vol. 5(2), pages 1-1, July.
    • Handle: RePEc:cup:jpenef:v:5:y:2006:i:02:p:i-ii_00
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