page_title: Tontine
hierarchical_section_title: Tontine
caption_attribution_description: English: Tontine Hotel sign, Ironbridge, UK
context_page_description: A tontine is an investment plan for raising capital, devised in the 17th century and relatively widespread in the 18th and 19th centuries.
  It enables subscribers to share the risk of living a long life by combining features of a group annuity with a kind of mortality lottery. Each subscriber pays an agreed sum into the fund and thereafter receives a periodical payout. As members die, their payout entitlements devolve to the other participants, and so the value of each continuing payout increases. On the death of the last member, the scheme is wound up.
  Tontines are regulated in Europe under the Directive 2002/83/EC of the European Parliament and are still common in France.
  The new Pan-European Pension legislation coming into force in August 2020 contains provisions which specifically pave the way for a next-generation of pension products that abide by the "tontine principle".
  Questionable practices by U.S. life insurers in 1906 led to the Armstrong Investigation in the United States restricting some forms of tontines. Nevertheless, in March 2017, The New York Times reported that tontines were getting fresh consideration as a way for people to get steady retirement income.
context_section_description: A tontine (/ˈtɒntaɪn, -iːn, ˌtɒnˈtiːn/) is an investment plan for raising capital, devised in the 17th century and relatively widespread in the 18th and 19th centuries. 
  It enables subscribers to share the risk of living a long life by combining features of a group annuity with a kind of mortality lottery. Each subscriber pays an agreed sum into the fund and thereafter receives a periodical payout. As members die, their payout entitlements devolve to the other participants, and so the value of each continuing payout increases. On the death of the last member, the scheme is wound up.
  Tontines are regulated in Europe under the Directive 2002/83/EC of the European Parliament and are still common in France.
  The new Pan-European Pension legislation coming into force in August 2020 contains provisions which specifically pave the way for a next-generation of pension products that abide by the "tontine principle".
  Questionable practices by U.S. life insurers in 1906 led to the Armstrong Investigation in the United States restricting some forms of tontines. Nevertheless, in March 2017, The New York Times reported that tontines were getting fresh consideration as a way for people to get steady retirement income.
caption: Tontine Hotel sign, Ironbridge, Shropshire, UK
exif: {}