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From Church PAYGO to Fully Funded

In: The Religious Roots of Longevity Risk Sharing

Author

Listed:
  • Moshe A. Milevsky

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.

Suggested Citation

  • Moshe A. Milevsky, 2024. "From Church PAYGO to Fully Funded," Springer Books, in: The Religious Roots of Longevity Risk Sharing, chapter 0, pages 171-190, Springer.
    • Handle: RePEc:spr:sprchp:978-3-031-62403-2_8
    DOI: 10.1007/978-3-031-62403-2_8
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