The Religious Roots of Longevity Risk Sharing
The Genesis of Annuity Funds in the Scottish Enlightenment and the Path to Modern Pension Management
- 288 pages
- 11 hours of reading
Focusing on the origins of longevity risk management, this historical study explores its connections to religious institutions in the eighteenth century. It highlights how monarchs and wealthy patrons committed to providing pensions and life annuities, reflecting the biblical idea of 'daily bread for life.' The book delves into the economic challenges faced due to uncertainties about beneficiaries' lifespans, which often resulted in insufficient funding and high default rates prior to the eighteenth century.
