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Overview on Heterogeneity in Longevity and Pension Schemes

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  • Lee,Ron
  • Sanchez-Romero,Miguel

Abstract

Differences in life expectancy between high and low socioeconomic groups are often large and have widened in recent decades. In the United States, the differences may now be as large as ten to fourteen years. These longevity gaps strongly affect the actuarial fairness and progressivity of many public pension systems, raising the question of possible policy reforms to address this issue. This paper reviews the empirical literature on the longevity differences across socioeconomic groups and their impacts on lifetime benefits, considers how these impacts depend on four different pay-as-you-go pension structures (calibrated on the US case), and discusses some policy options.

Suggested Citation

  • Lee,Ron & Sanchez-Romero,Miguel, 2019. "Overview on Heterogeneity in Longevity and Pension Schemes," Social Protection Discussion Papers and Notes 136560, The World Bank.
    • Handle: RePEc:wbk:hdnspu:136560
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    Cited by:

    1. Rocha de Jesus Fernandes, Anderson & Lanza Queiroz, Bernardo, 2024. "Aging, education and some other implications for the silver dividend in developing countries: Evidence from Brazil," The Journal of the Economics of Ageing, Elsevier, vol. 27(C).
    2. Qian Lu & Katja Hanewald & Xiaojun Wang, 2021. "Subnational Mortality Modelling: A Bayesian Hierarchical Model with Common Factors," Risks, MDPI, vol. 9(11), pages 1-21, November.
    3. Barr, Nicholas, 2019. "Gender and family: conceptual overview," LSE Research Online Documents on Economics 101237, London School of Economics and Political Science, LSE Library.

    More about this item

    Keywords

    Law and Justice Institutions; Population&Development; Pensions&Retirement Systems; Educational Sciences;
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