Living annuity satisfaction

Orientation: As a standard practice, retirement capital is converted into either an immediate life annuity (annuitisation), affording significant protection against longevity risk or living (self-annuitisation), exposing to volatile investment returns. Research purpose: This article presents number of exploratory factors (based on puzzle literature) that associate with retirees’ satisfaction levels, respect the eventual outcome their choice. Motivation for study: Reticence among retirees protect themselves has been subject vigorous academic debate. approach and method: A quantitative research was followed by performing ordinary least squares (OLS) linear multiple regression analysis in order ascertain which levels annuitants. Main findings: The most interesting conclusion that, although one would expect active involvement managing annuitants contribute desire control manage pursuance growth, actually significantly contributes retiree discontentment dissatisfaction. Practical implications: Financial education counselling optimal decision-making could restore promise income security. Contribution: Identifying (previously mainly reserved annuities) are associated annuitant serve as basis contribution this study.