Tag: annuity
Abstract This paper examines the importance of annuity-like income as a share of total money income received by aged families. The analysis considers the aged (62+) population as a whole as well as different parts of the aged families’ income distribution during the period from the early 1980s through 2009. We use survey data from…
The brief’s key findings are: Even though retirees are increasingly responsible for deciding how to draw down their assets, few buy annuities. Researchers have offered a host of explanations for the limited take-up, but the puzzle has never been solved. This analysis finds that valuing annuities is hard for people, so they may only buy…
