Addressing Longevity’ Heterogeneity in Pension Scheme Design

摘要: This paper demonstrates that the link between heterogeneity in longevity and lifetime income across countries is mostly high often increasing; it translates into an implicit tax/subsidy, with rates reaching 20 percent higher some countries; such risk perverting redistributive objectives of pension schemes distorting individual lifecycle labor supply savings decisions; this turn risks invalidating current reform approaches a closer contribution-benefit life expectancy-indexed retirement age. The suggests explores number interventions accumulation, benefit determination, disbursement stages to address longevity’ heterogeneity.