Publication:
The Mexican Pension Annuity Market

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dc.contributor.authorImpavido, Gregorio
dc.date.accessioned2012-06-05T14:57:57Z
dc.date.available2012-06-05T14:57:57Z
dc.date.issued2007-05
dc.description.abstractThis paper analyzes the performance and development of the Mexican pension annuity market established as a consequence of the 1997 pension reform. The Mexican experience displays interesting characteristics providing lessons for other countries that still need to design the decumulation phase of their newly established second pillars. At the same, time it raises some technical and policy concerns that need addressing as they could hamper, in the future, the healthy development of the market. The paper concludes that: 1) general life insurance companies may better hedge longevity risk than specialized annuity companies; 2) competition should be based on prices rather than additional products; 3) better disclosure of options under the 1973 and 1997 social security laws should be given to disability and life annuitants; and 4) various measures should be taken to improve asset liability management including allowing companies to trade over the counter derivatives and substituting over time the regulatory asset liability management framework with an economic asset liability management framework.en
dc.identifierhttp://documents.worldbank.org/curated/en/2007/05/7639190/mexican-pension-annuity-market
dc.identifier.doi10.1596/1813-9450-4236
dc.identifier.urihttps://hdl.handle.net/10986/7101
dc.languageEnglish
dc.publisherWorld Bank, Washington, DC
dc.relation.ispartofseriesPolicy Research Working Paper; No. 4236
dc.rightsCC BY 3.0 IGO
dc.rights.holderWorld Bank
dc.rights.urihttp://creativecommons.org/licenses/by/3.0/igo/
dc.subjectACCUMULATED SAVINGS
dc.subjectACCUMULATION PERIOD
dc.subjectACCUMULATION RATE
dc.subjectACTUARIES
dc.subjectAGENTS
dc.subjectANNUITIES
dc.subjectANNUITY
dc.subjectANNUITY MARKETS
dc.subjectANNUITY PROVIDERS
dc.subjectASSETS
dc.subjectAUCTIONS
dc.subjectBASIC PENSION
dc.subjectBENEFICIARIES
dc.subjectBENEFIT FORMULA
dc.subjectBROKERS
dc.subjectCENTRAL BANKS
dc.subjectCOMMISSIONS
dc.subjectCREDIT RISK
dc.subjectDEFINED BENEFIT SCHEMES
dc.subjectDEFINED BENEFITS
dc.subjectDEREGULATION
dc.subjectDERIVATIVES
dc.subjectEFFICIENT MARKET
dc.subjectEQUITY INVESTMENT
dc.subjectEXPECTED RETURN
dc.subjectEXPECTED VALUE
dc.subjectFAIR
dc.subjectFINANCIAL ASSETS
dc.subjectFINANCIAL SECTOR
dc.subjectGDP
dc.subjectGNP
dc.subjectGOVERNMENT BONDS
dc.subjectHOUSING
dc.subjectINDIVIDUAL ACCOUNTS
dc.subjectINFLATION
dc.subjectINFLATION RISK
dc.subjectINSURANCE BENEFITS
dc.subjectINSURANCE INDUSTRY
dc.subjectINSURANCE LAW
dc.subjectINSURANCE PRODUCTS
dc.subjectINSURERS
dc.subjectINTEREST RATE
dc.subjectINTEREST RATES
dc.subjectINTERNATIONAL FINANCIAL INSTITUTIONS
dc.subjectINVESTMENT PERFORMANCE
dc.subjectLIFE INSURANCE
dc.subjectLIFE INSURANCE COMPANIES
dc.subjectLIQUIDITY
dc.subjectLONGEVITY RISK
dc.subjectLOSS RATIO
dc.subjectMARKET CONCENTRATION
dc.subjectMARKET INFORMATION
dc.subjectMARKET PENETRATION
dc.subjectMARKET POSITIONING
dc.subjectMARKET SHARE
dc.subjectMARKET STRUCTURE
dc.subjectMORTALITY TABLES
dc.subjectMUTUAL FUNDS
dc.subjectNON-LIFE INSURANCE
dc.subjectOLD AGE BENEFITS
dc.subjectPENSION FUND
dc.subjectPENSION FUND ADMINISTRATORS
dc.subjectPENSION REFORM
dc.subjectPENSION REFORMS
dc.subjectPENSION RIGHTS
dc.subjectPENSION SYSTEM
dc.subjectPENSIONERS
dc.subjectPENSIONS
dc.subjectPOLITICAL ECONOMY
dc.subjectPOTENTIAL DEMAND
dc.subjectPREMIUMS
dc.subjectPRICE INDEX
dc.subjectPRICE VARIATION
dc.subjectPRIVATE INSURANCE
dc.subjectPRODUCT PRICING
dc.subjectPROFIT MARGINS
dc.subjectPROFITABILITY
dc.subjectREAL INTEREST RATE
dc.subjectREGULATORY FRAMEWORK
dc.subjectREINSURANCE
dc.subjectRESERVE
dc.subjectRESERVES
dc.subjectRETIREES
dc.subjectRETIREMENT
dc.subjectRETIREMENT BENEFITS
dc.subjectRISK PREMIUM
dc.subjectSALE
dc.subjectSALES
dc.subjectSAVINGS
dc.subjectSECURITIES
dc.subjectSOCIAL SECURITY
dc.subjectSOLVENCY
dc.subjectSPREAD
dc.subjectSTATISTICAL DATA
dc.subjectSTOCKS
dc.subjectTRUSTS
dc.subjectUNDERWRITING
dc.subjectUNEMPLOYMENT
dc.subjectVALUATION
dc.titleThe Mexican Pension Annuity Marketen
dspace.entity.typePublication
okr.crossref.titleThe Mexican Pension Annuity Market
okr.date.doiregistration2025-04-10T09:38:14.198940Z
okr.doctypePublications & Research::Policy Research Working Paper
okr.doctypePublications & Research
okr.docurlhttp://documents.worldbank.org/curated/en/2007/05/7639190/mexican-pension-annuity-market
okr.globalpracticeMacroeconomics and Fiscal Management
okr.globalpracticeSocial Protection and Labor
okr.globalpracticeFinance and Markets
okr.globalpracticeFinance and Markets
okr.guid248421468281748662
okr.identifier.doi10.1596/1813-9450-4236
okr.identifier.externaldocumentum000090341_20070523155953
okr.identifier.internaldocumentum7639190
okr.identifier.reportWPS4236
okr.language.supporteden
okr.pdfurlhttp://www-wds.worldbank.org/external/default/WDSContentServer/WDSP/IB/2007/05/23/000090341_20070523155953/Rendered/PDF/WPS04236.pdfen
okr.region.administrativeLatin America & Caribbean
okr.region.countryMexico
okr.topicFinance and Financial Sector Development::Non Bank Financial Institutions
okr.topicEconomic Theory and Research
okr.topicInsurance and Risk Mitigation
okr.topicPensions and Retirement Systems
okr.topicMacroeconomics and Economic Growth::Markets and Market Access
okr.topicSocial Protections and Labor
okr.unitDevelopment Research Group (DECRG)
okr.volume1 of 1
relation.isSeriesOfPublication26e071dc-b0bf-409c-b982-df2970295c87
relation.isSeriesOfPublication.latestForDiscovery26e071dc-b0bf-409c-b982-df2970295c87
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