Announcement: SOA releases March 2022 Exam P passing candidate numbers.

Variable Payout Annuities

The Society of Actuaries’ Pension Section is pleased to make available a research report assessing the value of a group self-annuitization type annuity within a retiree’s portfolio.  The report was authored by Phelim Boyle, Mary Hardy, Anne MacKay, and David Saunders of Waterloo University.


Variable Payout Annuities


If you have any questions or comments regarding the report, please contact Steve Siegel, Research Actuary at

Thank You

The SOA’s Pension Section would like to thank the following individuals for their input on the project:

Gavin Benjamin
Kevin Binder
John Deinum
Ian Genno
Eric Keener
Cindy Levering
Steven Siegel, SOA Research Actuary
Barbara Scott, SOA Research Administrator