A Fixed Career Length Versus a Fixed Retirement Age: An Analysis per Socio-Economic Groups

M. Carmen Boado-Penas (), Pierre Devolver, Şule Şahin and Carlos Sunyer
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M. Carmen Boado-Penas: University of Liverpool
Pierre Devolver: Université Catholique Louvain
Şule Şahin: University of Liverpool
Carlos Sunyer: Universidad Carlos III Madrid

A chapter in Mathematical and Statistical Methods for Actuarial Sciences and Finance, 2022, pp 115-120 from Springer

Abstract: Abstract An increase in pension age is one of the most common reforms to restore the financial sustainability of the pension scheme. However, this measure might damage individuals from lower socio-economic groups who, on average, have shorter life expectancy. This paper aims to analyse to what extent a fixed reference career duration instead of a reference retirement age acts as an automatic balancing mechanism that contributes to strength the actuarial fairness/equity in the current public pension schemes and mitigate the inequality among different socio-economic groups.

Keywords: Mortality differentials; Labour entry age; Public pension; Redistribution; Reform (search for similar items in EconPapers)
Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-030-99638-3_19

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DOI: 10.1007/978-3-030-99638-3_19

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