Subjective Life Expectancy and Private Pensions
@inproceedings{BucherKoenen2012SubjectiveLE,
title={Subjective Life Expectancy and Private Pensions},
author={Tabea Bucher-Koenen and S. Kluth},
year={2012}
}One important parameter in the decision process when buying a private annuity is individuals´ subjective life expectancy, because it directly influences the expected rate of return. We examine the market for private annuities in Germany and evaluate potential selection effects based on subjective life expectancy. First individuals are pessimistic about their life span compared to the official life tables. Second we find a significant selection effect based on subjective life expectancy for… CONTINUE READING
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