Adressing longevity heterogeneity in pension scheme design

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 redistribut...

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Detalles Bibliográficos
Autores: Ayuso, Mercedes, Bravo, Jorge Miguel, Holzmann, Robert
Tipo de recurso: artículo
Estado:Versión publicada
Fecha de publicación:2017
País:España
Institución:Varias* (Consorci de Biblioteques Universitáries de Catalunya, Centre de Serveis Científics i Acadèmics de Catalunya)
Repositorio:Recercat. Dipósit de la Recerca de Catalunya
OAI Identifier:oai:recercat.cat:2445/164061
Acceso en línea:https://hdl.handle.net/2445/164061
Access Level:acceso abierto
Palabra clave:Pensions a la vellesa
Longevitat
Risc (Economia)
Old age pensions
Longevity
Risk
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spelling Adressing longevity heterogeneity in pension scheme designAyuso, MercedesBravo, Jorge MiguelHolzmann, RobertPensions a la vellesaLongevitatRisc (Economia)Old age pensionsLongevityRiskThis 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' heterogeneityScience and Education Centre of North America2020202020172020info:eu-repo/semantics/articleinfo:eu-repo/semantics/publishedVersion21 p.application/pdfhttps://hdl.handle.net/2445/164061Articles publicats en revistes (Econometria, Estadística i Economia Aplicada)reponame:Recercat. Dipósit de la Recerca de Catalunyainstname:Varias* (Consorci de Biblioteques Universitáries de Catalunya, Centre de Serveis Científics i Acadèmics de Catalunya)InglésReproducció del document publicat a: https://doi.org/10.12735/jfe.v6n1p1Journal of Finance & Economics, 2017, vol. 6, num. 1, p. 1-21https://doi.org/10.12735/jfe.v6n1p1cc-by (c) Ayuso, Mercedes et al., 2017http://creativecommons.org/licenses/by/3.0/esinfo:eu-repo/semantics/openAccessoai:recercat.cat:2445/1640612026-05-29T05:05:01Z
dc.title.none.fl_str_mv Adressing longevity heterogeneity in pension scheme design
title Adressing longevity heterogeneity in pension scheme design
spellingShingle Adressing longevity heterogeneity in pension scheme design
Ayuso, Mercedes
Pensions a la vellesa
Longevitat
Risc (Economia)
Old age pensions
Longevity
Risk
title_short Adressing longevity heterogeneity in pension scheme design
title_full Adressing longevity heterogeneity in pension scheme design
title_fullStr Adressing longevity heterogeneity in pension scheme design
title_full_unstemmed Adressing longevity heterogeneity in pension scheme design
title_sort Adressing longevity heterogeneity in pension scheme design
dc.creator.none.fl_str_mv Ayuso, Mercedes
Bravo, Jorge Miguel
Holzmann, Robert
author Ayuso, Mercedes
author_facet Ayuso, Mercedes
Bravo, Jorge Miguel
Holzmann, Robert
author_role author
author2 Bravo, Jorge Miguel
Holzmann, Robert
author2_role author
author
dc.subject.none.fl_str_mv Pensions a la vellesa
Longevitat
Risc (Economia)
Old age pensions
Longevity
Risk
topic Pensions a la vellesa
Longevitat
Risc (Economia)
Old age pensions
Longevity
Risk
description 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
publishDate 2017
dc.date.none.fl_str_mv 2017
2020
2020
2020
dc.type.none.fl_str_mv info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
format article
status_str publishedVersion
dc.identifier.none.fl_str_mv https://hdl.handle.net/2445/164061
url https://hdl.handle.net/2445/164061
dc.language.none.fl_str_mv Inglés
language_invalid_str_mv Inglés
dc.relation.none.fl_str_mv Reproducció del document publicat a: https://doi.org/10.12735/jfe.v6n1p1
Journal of Finance & Economics, 2017, vol. 6, num. 1, p. 1-21
https://doi.org/10.12735/jfe.v6n1p1
dc.rights.none.fl_str_mv cc-by (c) Ayuso, Mercedes et al., 2017
http://creativecommons.org/licenses/by/3.0/es
info:eu-repo/semantics/openAccess
rights_invalid_str_mv cc-by (c) Ayuso, Mercedes et al., 2017
http://creativecommons.org/licenses/by/3.0/es
eu_rights_str_mv openAccess
dc.format.none.fl_str_mv 21 p.
application/pdf
dc.publisher.none.fl_str_mv Science and Education Centre of North America
publisher.none.fl_str_mv Science and Education Centre of North America
dc.source.none.fl_str_mv Articles publicats en revistes (Econometria, Estadística i Economia Aplicada)
reponame:Recercat. Dipósit de la Recerca de Catalunya
instname:Varias* (Consorci de Biblioteques Universitáries de Catalunya, Centre de Serveis Científics i Acadèmics de Catalunya)
instname_str Varias* (Consorci de Biblioteques Universitáries de Catalunya, Centre de Serveis Científics i Acadèmics de Catalunya)
reponame_str Recercat. Dipósit de la Recerca de Catalunya
collection Recercat. Dipósit de la Recerca de Catalunya
repository.name.fl_str_mv
repository.mail.fl_str_mv
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score 15.811543

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