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Overview on Heterogeneity in Longevity and Pension Schemes / Ron Lee.
World Bank Open Knowledge Repository (formerly "World Bank E-Library Publications") Available online
View online- Format:
- Book
- Government document
- Author/Creator:
- Lee, Ron.
- Series:
- Social Protection and Labor Discussion Papers.
- World Bank e-Library.
- Social Protection and Labor Discussion Papers
- Language:
- English
- Subjects (All):
- Demographics.
- Health, Nutrition and Population.
- Labor Markets.
- Life Expectancy.
- Pension Reform.
- Pensions and Retirement Systems.
- Social Protections and Labor.
- Local Subjects:
- Demographics.
- Health, Nutrition and Population.
- Labor Markets.
- Life Expectancy.
- Pension Reform.
- Pensions and Retirement Systems.
- Social Protections and Labor.
- Place of Publication:
- Washington, D.C. : The World Bank, 2019.
- System Details:
- data file
- Summary:
- Differences in life expectancy between high and low socioeconomic groups are often large and have widened in recent decades. In the United States, the differences may now be as large as ten to fourteen years. These longevity gaps strongly affect the actuarial fairness and progressivity of many public pension systems, raising the question of possible policy reforms to address this issue. This paper reviews the empirical literature on the longevity differences across socioeconomic groups and their impacts on lifetime benefits, considers how these impacts depend on four different pay-as-you-go pension structures (calibrated on the US case), and discusses some policy options.
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