From Church PAYGO to Fully Funded

Moshe Milevsky

Chapter Chapter 8 in The Religious Roots of Longevity Risk Sharing, 2024, pp 171-190 from Springer

Abstract: Abstract Offers a historical overview of some earlier annuity schemes attempted by the Church of Scotland, decades earlier, and the unfunded pay-as-you-go nature of those arrangements. The earlier attempts, which might have been suggested by Daniel Defoe’s work, involved a very small number of participants which didn’t allow for proper longevity risk pooling. The chapter then presents a brief overview of Presbyterian Church politics during the 1720s and 1730s which might have impeded or delayed the development of a final scheme. Sums up with a timeline table for the three decades from 1718 (earliest attempts) to 1748 (final version). It concludes by offering sources for additional reading and references.

Keywords: Pay-as-you-go; Daniel Defoe; Fasti Ecclesiae Scoticanae; Presbyteries; Witches (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-031-62403-2_8

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DOI: 10.1007/978-3-031-62403-2_8

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