We investigate whether a historical pension concept, the tontine, yields enough innovative potential to extend and improve the prevailing privately funded pension solutions in a modern way. The tontine basically generates an age-increasing cash flow, which can help to match the increasing financing needs at old ages. In contrast to traditional pension products, however, the tontine generates volatile ...
In:
European Actuarial Journal
11 (2021), 1, 49-86
| Jan-Hendrik Weinert, Helmut Gründl