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Title: Adressing longevity heterogeneity in pension scheme design
Author: Ayuso, Mercedes
Bravo, Jorge Miguel
Holzmann, Robert
Keywords: Pensions a la vellesa
Risc (Economia)
Old age pensions
Issue Date: 2017
Publisher: Science and Education Centre of North America
Abstract: This paper demonstrates that the link between heterogeneity in longevity and lifetime income across countries is mostly high and often increasing; that it translates into an implicit tax/subsidy, with rates reaching 20 percent and higher in some countries; that such rates risk perverting redistributive objectives of pension schemes and distorting individual lifecycle labor supply and savings decisions; and that this in turn risks invalidating current reform approaches of a closer contribution-benefit link and life expectancy-indexed retirement age. The paper suggests and explores a number of interventions in the accumulation, benefit determination, and disbursement stages to address longevity' heterogeneity
Note: Reproducció del document publicat a:
It is part of: Journal of Finance & Economics, 2017, vol. 6, num. 1, p. 1-21
Related resource:
ISSN: 2291-4951
Appears in Collections:Articles publicats en revistes (Econometria, Estadística i Economia Aplicada)

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