Publikace na Matematicko-fyzikální fakulta |
2014
Abstrakt
This paper shows by means of the concept of utility that annuitization through life annuities or a pension can be an efficient instrument for the economic assurance of seniors. Various quantitative argument are presented supporting this statement (e.g. annuity equivalent wealth AEW is calculated using Czech data).
In conclusion, some practical arguments are mentioned regarding why the real demand on life anuities contradicts this result so that a so-called annuity puzzle arises in pension practice.