Description: Retirees and their advisors should construct diversified portfolios of retirement income, allocating among various retirement income classes that include Social Security, annuities, and systematic withdrawals from invested assets. This essay discusses the pros and cons of various retirement income generators and the issues with constructing retirement income portfolios.

Description: A review of the last 50 years, concluding that the insurance industry in Canada has been slow to react to consumers' shift in focus from long-term security to rate of return.

Description: This essay advocates that the transition from DB to DC plans won't be complete until plan sponsors offer programs of retirement income in their DC plans. The essay discusses the relevant actuarial and behavioral issues.

Description: This article explores the development of the annuity market in the UK over the past 20 years. It examines the explosive growth achieved by the enhanced annuity market and delves into the kinds of customers attracted by these products and the kinds of enhancements typically presented. It also explores the impact of government policy changes which have lead to annuity volumes declining and 'drawdown' product becoming more popular.