Optimal Benefit Distribution of a Tontine-like Annuity Fund with Age-Structured Models

This paper introduces a tontine-like annuity fund designed to provide lifelong income to its participants. Initially, each member contributes a lump-sum payment into a trust fund as a joining premium. Participants then receive benefits over time, based on their survival. As members pass away, their...

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Bibliographic Details
Main Authors: Fan Zhang, Ping Chen, Xueyuan Wu
Format: Article
Language:English
Published: MDPI AG 2024-12-01
Series:Risks
Subjects:
Online Access:https://www.mdpi.com/2227-9091/13/1/4
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