The Pension Crisis concerns the changing demographic profile of more elderly and fewer young people in the economy. Understanding and tackling this impending crisis is a key task for public policy. An annuity protects an individual from outliving their savings, and is central to pensions policy. This book examines the different types of annuities available, how these annuities are priced, the history of annuities, how annuities markets function: how they work, and are they efficient. It provides an international comparison of annuity markets, and examines recent developments in annuity...