 Survival inequalities and redistribution in the Italian pension systemGraziella Caselli and Rosa Maria Lipsi Vienna Yearbook of Population Research, 2018, vol. 16, issue 1, 083-110 Abstract: The public pension system in Italy is a defined contribution scheme based on the principle of actuarial fairness. The pension annuity is calculated starting from capitalised value and the Legislated Conversion Factors (LCFs) for each retirement age. The demographic parameters used by legislators in computing the LCFs are the survival probabilities of an average Italian, irrespective of gender or any characteristic except age. The aim of this paper is to analyse the impact of the differences in survival between men and women, and between individuals with different educational levels, on the calculation of the pension annuity, starting from the specific Conversion Factors (CFs). The gap between the LCFs and the factors obtained by allowing for differential survival across gender and socio-demographic groups (CFs) gives us a means of making a quantitative assessment of the implicit redistributive impacts of the annuity redistribution from individuals with a lower life expectancy to individuals with a higher life expectancy. Date: 2018 Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:vid:yearbk:v:16:y:2018:i:1:p:083-110 Access Statistics for this article Vienna Yearbook of Population Research is currently edited by Tomas Sobotka and Maria Winkler-Dworak More articles in Vienna Yearbook of Population Research from Vienna Institute of Demography (VID) of the Austrian Academy of Sciences in Vienna |
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