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Partial de-annuitization of public pensions vs. retirement age differentiation: Which is best to account for longevity differences?
Published online by Cambridge University Press: 09 December 2022
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.
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- Copyright © The Author(s), 2022. Published by Cambridge University Press