Tontines - an old product with some life in itBY STEPHEN FAY | FRIDAY, 11 DEC 2015 4:35PM An investment product comprising gambling, corruption and possibly murder designed for 17th century European monarchies to raise money for war does not immediately recommend itself ... Upgrade your subscription to access this article
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SHARON DAVIS
NON-EXECUTIVE DIRECTOR
FUTURE GROUP AUSTRALIA HOLDINGS PTY LTD
NON-EXECUTIVE DIRECTOR
FUTURE GROUP AUSTRALIA HOLDINGS PTY LTD
Sharon Davis has always been fascinated by the human condition; it has driven her passion for people, her career, and building a better future for the next generation and beyond. Eliza Bavin writes.
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Stephen, have you heard of Mercer LifetimePlus?
It is an investment option for an account-based pension where the longevity risk is shared with the other investors. No capital is needed. It's a mutual pool. If you live longer than others then you receive a living bonus from those who die a bit earlier. The outcomes are similar to a deferred annuity. Sound like a tontine? To some extent, but the last person standing doesn't win it all! It's fairer than that.