Partial De-Annuitization of Public Pensions v.s. Retirement Age Differentiation. Which is Best to Account for Longevity Differences?

Vincent Vandenberghe

No 2021029, LIDAM Discussion Papers IRES from Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES)

Abstract: Extensive research by demographers and economists has shown that longevity differs across socioeconomic 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.

Keywords: Pension Policy; Longevity Difference; Equity; Annuitization; Retirement Age Differentiation (search for similar items in EconPapers)
JEL-codes: H55 J14 J26 (search for similar items in EconPapers)
Date: 2021-12-23
New Economics Papers: this item is included in nep-age and nep-lma
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Journal Article: Partial de-annuitization of public pensions vs. retirement age differentiation: Which is best to account for longevity differences? (2024)
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Persistent link: https://EconPapers.repec.org/RePEc:ctl:louvir:2021029

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