The development of a life annuity market in Australia: An analysis of supplier risks and their mitigation
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The significant accumulation of superannuation assets must be converted into income to finance the retirement needs of individuals. This paper considers the development of a life annuity market in Australia focusing on the risk management for potential suppliers of long-term guaranteed annuity products. It also examines the role of government in this market, particularly in hedging for the major risks involved.