Partial de-annuitization of public pensions vs. retirement age differentiation: Which is best to account for longevity differences?
(2022) Journal of Pension Economics and Finance — Vol. 23, n° 1, p. 111-131 (2024)
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- Abstract
- Extensive research by demographers and economists has shown that longevity differs across socio-economic status (SES), with low-educated or low-income people living, on average, shorter lives than their better-endowed and wealthier peers. Therefore, a pension system with a unique retirement age is a priori problematic. The usual policy recommendation to address this problem is to differentiate the retirement age by SES. This paper explores the relative merits of partial de-annuitization of public pensions as a way of addressing the (imperfectly assessed) inequality of longevity.
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Citations
Vandenberghe, V. (2022). Partial de-annuitization of public pensions vs. retirement age differentiation: Which is best to account for longevity differences? Journal of Pension Economics and Finance, 23(1), 111-131. https://doi.org/10.1017/S1474747222000257 (Original work published 2024)