定製年金產品谘詢報告(英文版)(ppt 38頁)

定製年金產品谘詢報告內容摘要：
"I don't want to achieve immortality through my work - I want to achieve it by not dying"
Woody Allen
"People will soon live twice as long as today, and have the potential to live for 1200 years"
John Harris, Scientist
Member of UK Human Genetics Commission
as reported Sunday Times, 25 June 2000
Funeral firm hit by 29% profit fall
Not enough people are dying in the US, according to Service Corporation International, the world's largest funeral services company
Times, 2 October 1999
Traditional annuities　Some important questions
How much do the guarantees cost?
How valuable are they to customers?
early in retirement/later in retirement?
according to other assets?
How will lifestyles and needs change in retirement?
Will customers change their minds over time?
Key issues for design　The Pensioner
Choice (investment)
Flexibility (income)
Protection (survival)
Communication (trade offs)
Fail safe
Fail safe
Default investment strategies, egequities bonds over lifetime
Programmed switching to guarantee at high age
Programmed switching to guarantee on sustained market fall, eg Japan scenario
Voluntary switching
NB: More features better systems

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