Presentation - Society of Actuaries in Ireland
Presentation - Society of Actuaries in Ireland
Presentation - Society of Actuaries in Ireland
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UK Market Opportunity (Section 3)• Bridges the gaps left by the decl<strong>in</strong>e <strong>of</strong> with-pr<strong>of</strong>its and def<strong>in</strong>edbenefit pension schemes• Traditional annuities give strong guarantees but <strong>in</strong>flexible andresult <strong>in</strong> fixed <strong>in</strong>terest <strong>in</strong>vestment for up to 30 years• Drawdown (or ARFs <strong>in</strong> <strong>Ireland</strong>) allow <strong>in</strong>vestment <strong>in</strong> risky assetsbut no <strong>in</strong>come protection if market falls• UK market scale (2006) - £9.6bn annuities, £2.6bn drawdown• Face some regulatory challenges to product design
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