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Please use this identifier to cite or link to this item: https://hdl.handle.net/2445/164061
Adressing longevity heterogeneity in pension scheme design
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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
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AYUSO, Mercedes, BRAVO, Jorge Miguel and HOLZMANN, Robert. Adressing longevity heterogeneity in pension scheme design. Journal of Finance & Economics. 2017. Vol. 6, num. 1, pags. 1-21. ISSN 2291-4951. [consulted: 13 of June of 2026]. Available at: https://hdl.handle.net/2445/164061