Pension, to most people, implies a regular payment from a specific age-such as retirement-until death. Individual retirement accounts are a vehicle for retirement savings but they do not become a pension in the conventional sense of the word until they are converted to an 'annuity'. How much and what type of annuitization should be mandated are key policy questions facing reformers. Economists believe that annuities can make people better off. The...
See More
Citation
Annuities - regulating withdrawals from individual pension accounts : Rentas vitalicias - regular la retirada de fondos de cuentas individuales de retiro (Spanish). World Bank pension reform primer series Washington, DC: World Bank. http://documents.worldbank.org/curated/en/521561468175500785