惠悅國際-定制年金產品咨詢報告(3)(已修改)
2025-01-09 22:19 本頁面
【正文】 W W W . W A T S O N W Y A T T . C O M Designing annuity products for consumers needs Presented by Mike Wadsworth Partner, Watson Wyatt May 2023 Agenda ? Options for generating lifetime ine ? Consumer needs ? Investing for life ? Managing survival ? A new model I don39。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 Geics Commission as reported Sunday Times, 25 June 2023 Funeral firm hit by 29% profit fall Not enough people are dying in the US, according to Service Corporation International, the world39。s largest funeral services pany Times, 2 October 1999 Scale of opportunities People over 65 05,000,00010,000,00015,000,00020,000,00025,000,00030,000,00035,000,00040,000,00045,000,000AustraliaFranceGermanySingaporeSpainUKUSA20232023Source: US Bureau of the Census Annuity versus bond yield 0510152050 55 60 65 70 75 80I n te r e s t C a p i ta l B o n d y i e l dIne taken monthly in advance。 interest rate 5% pa Annuity ine broken down into capital element and the balance (ie interest element) Options for retirement ine 100% Pensioner Investment Guarantees Pensioner Survival Guarantees Traditional Annuity Lump Sum ? 169。 Watson Wyatt Partners 2023 0% 0% 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 (ine) ? Protection (survival) ? Communication (trade offs) ? Fail safe A lifetime asset allocation model Traditional Either lump sum Or annuity Retire Retire Optimum return (equities?) Optimu
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