This analysis evaluates the performance of the Lifetime Income Builder as an income solution within Defined Contribution Plans in the U.S. Market. This independent analysis was sponsored by Annexus Retirement Solutions

Brief of income annuity white paper (of the same line) highlighting implications of research and summarizing key findings. Any company that wants to offer the best annuity payout rate needs to consider the number of insurers it relies on and reassess their rates periodically.

This paper explores the competitiveness of annuity payouts over time. This study uses historical rates from CANNEX to better understand how the selection of an insurer offering a competitive payout rate at one point in time may result in less competitive rates for buyers over time.

This white paper examines unexpected findings from the mid-year update for the 2020 Guaranteed Lifetime Income Study done in partnership with Greenwald Research. Analysis goes deeper into the reasons why some consumers reported finding GLI products less valuable.

CANNEX responds to certain questions that the U.S. Department of Labor asked related to the interim final rule on lifetime income illustrations with information on annuity pricing and commercial annuity prevalence, availability, and popularity.

This report examines the implications of academic research on purchase of deferred income annuities (DIAs) before retirement. How are these findings relevant to considerations of retirement plan design in the defined contribution market?

A look at the CANNEX Adaptive Withdrawal Strategy compared against common rules of thumb for systematic withdrawals. Permission to take larger withdrawal earlier may increase retiree satisfaction.

New analysis evaluates the performance of the Midland LiveWell Freedom VA guaranteed lifetime withdrawal benefit. This independent analysis was sponsored by Midland National.

This paper explores how one should optimally purchase Deferred Income Annuities (DIAs) within a retirement investment plan over the course of time.

New analysis evaluates the performance difference of the principal guarantee from a guaranteed minimum accumulation benefit on a variable annuity compared with fixed indexed annuities. This independent analysis was sponsored by New York Life.

Data from the CANNEX annuity pricing and analysis service shows that different types of annuities with equivalent benefits provide higher income guarantees depending upon gender, how long income is delayed, and whether it is for a single person or a couple.

Data from the CANNEX annuity comparison system shows how the two types of fixed annuities behave very differently based on strategy and crediting method.

This paper summarizes an enhancement to a patented methodology that optimizes a withdrawal strategy from an investment account to support sustainable income in retirement. Originally developed in 2011 by Moshe Milevsky and Huaxiong Huang, this retirement spending policy uses stochastic control theory and dynamic programming to adjust withdrawal rates based on market performance as well as an investor’s risk preference and mortality.

In this paper we propose a scoring methodology for VA transactions that is intended to improve current evaluation practices – and empower financial institutions, their advisors and clients to make more informed decisions about annuity transactions.

This report provides a comprehensive review of Income Annuity sales from 2012 through third quarter 2015 and representing contract-level data from 22 manufacturers (83 percent of the industry). The 2016 Income Annuity Buyers Study was conducted by the LIMRA Secure Retirement Institute in partnership with CANNEX. Details around product features and buyer demographics are provided along with insights on purchasing behavior and trends.

With a myriad of investment and insurance products available in the market to address retirement income concerns, the new challenge is answering the question: Which of these products are suitable and in what proportions? This document examines the risks in retirement, explains the concept of product allocation, and shows how to apply this new approach to retirement income planning.

Carriers continue to add many features to the income annuity to help broaden their appeal. This joint report by CANNEX & LIMRA provides details on which features are currently available on both immediate and deferred income annuities.

This paper by H. Huang, M.A. Milevsky and T.S. Salisbury offers a financial economic perspective on the optimal time (and age) at which the owner of a Variable Annuity (VA) policy with a Guaranteed Living Withdrawal Benefit (GLWB) rider should initiate guaranteed lifetime income payments.

Huang is a Professor of Mathematics and Statistics at York University, Milevsky is Associate Professor of Finance, York University, and Executive Director of the IFID Centre. Salisbury is Professor of Mathematics and Statistics at York University, all in Toronto, Canada.

This joint report by CANNEX & LIMRA report examines the various forms of liquidity currently available in the market for clients who are living and actively managing their retirement portfolios. Seven of the top 10 participating companies offered a liquidity feature for their 2010 income annuity sales.

This original report by CANNEX provides details on which features were available on Single Premium Immediate Annuities (SPIA).

In this paper by M.A. Milevsky an index is developed for tracking the dynamic behavior of life (pension) annuity payouts over time, based on the concept of self-annuitization. The implied longevity yield (ILY) value is defined equal to the internal rate of return (IRR) over a fixed deferral period that an individual would have to earn on their investable wealth if they decided to self-annuitize using a systematic withdrawal plan. A larger ILY number indicates a greater relative benefit from immediate annuitization.

In this paper we offer a novel method of assessing whether exchanging one variable annuity (VA) policy for another, destroys or adds value from a purely economic perspective. We do this by decomposing the policy into a portfolio of financial options and then use an option pricing model to compute the difference in aggregate value between the embedded options in the new and old VA.