The Calculus of Retirement Income: Financial Models for Pension Annuities and Life InsuranceThis 2006 book introduces and develops the basic actuarial models and underlying pricing of life contingent pension annuities and life insurance from a unique financial perspective. The ideas and techniques are then applied to the real world problem of generating sustainable retirement income towards the end of the human life cycle. The role of lifetime income, longevity insurance, and systematic withdrawal plans are investigated in a parsimonious