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Partial de-annuitization of public pensions vs. retirement age differentiation: Which is best to account for longevity differences?

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  • Vandenberghe, Vincent

Abstract

Extensive research by demographers and economists has shown that longevity differs across socio-economic 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.

Suggested Citation

  • Vandenberghe, Vincent, 2024. "Partial de-annuitization of public pensions vs. retirement age differentiation: Which is best to account for longevity differences?," Journal of Pension Economics and Finance, Cambridge University Press, vol. 23(1), pages 111-131, January.
    • Handle: RePEc:cup:jpenef:v:23:y:2024:i:1:p:111-131_6
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    JEL classification:

    • H55 - Public Economics - - National Government Expenditures and Related Policies - - - Social Security and Public Pensions
    • J26 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Retirement; Retirement Policies
    • J14 - Labor and Demographic Economics - - Demographic Economics - - - Economics of the Elderly; Economics of the Handicapped; Non-Labor Market Discrimination

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