A Minimum Pension for Older People via Expenses Rate

Noemí Peña-Miguel (), María Cristina Fernández-Ramos and Joseba Iñaki De La Peña
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Noemí Peña-Miguel: University of the Basque Country (UPV/EHU)
María Cristina Fernández-Ramos: School of Education, Junta de Castilla y León
Joseba Iñaki De La Peña: University of the Basque Country (UPV/EHU)

A chapter in Mathematical and Statistical Methods for Actuarial Sciences and Finance, 2018, pp 489-493 from Springer

Abstract: Abstract For 2050, 21.8% of the world population will overcome 60 years, 16% the 65 years old and 4.4% 80 years, due partly, to the reduction of the rates of fecundity and mortality. This fact will provoke problems in the costs of public and private systems of long term care coverage. As the elderly population increases, the expenses increase as well in health and geriatrics services. These ones imply costly technologies and sectorial inflation and is another reason to provoke problems in the cost of public and private systems of long term care coverage. To face them, the pensioners have principally their own pensions and savings. This paper proposes to develop the methodology to determine minimal pensions under the presumption of supporting the expense in vital consumption and to adapt it to the situation of severe or great dependent. A review of the literature is carried out to present the methodology used as well as the results of the application for Spain.

Keywords: Sustainable benefits; Minimum pension benefit; Social security (search for similar items in EconPapers)
Date: 2018
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-319-89824-7_87

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DOI: 10.1007/978-3-319-89824-7_87

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