Annuitisation: Retirement income that lasts a lifetime

Author: Ronald Klein

An insurance solution to people outliving their retirement savings
Government-supported social retirement plans (Pillar I) are under extreme financial pressure due increased life expectancies and low fertility rates. Individuals are compelled to provide for themselves a suitable retirement through occupational pensions (Pillar II) and personal savings (Pillar III). The insurance industry can help as it is the only industry that accepts longevity risk as a core business, and is a long-term provider of lifetime annuities—an insurance that a person will not outlive their retirement savings.



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