We host different speakers at our Economic Theory & Policy Seminar. 

Upcoming topics and speakers will be posted below.

30. October 2024, 16:00 until 17:30

Theory & Policy Seminar / Jennifer Alonso-García (ULB) / Mortality by socio-economic class and its impact on retirement schemes: how to render the system fairer

Other

Jennifer Alonso-García will give a talk at our Economic Theory and Policy Seminar.

 

Jennifer Alonso-García, opens an external URL in a new window

"Mortality by socio-economic class and its impact on retirement schemes: how to render the system fairer"

Many OECD countries have addressed the issue of increased longevity by mainly increasing the retirement age. However, this kind of reforms may lead to substantial transfers from those with shorter lifespans to those that will live longer than the average, as they do not necessarily take into account the socio-economic differences in mortality. The contribution of our paper is therefore twofold. Firstly, we illustrate how both a Defined Benefit and a Notional Defined Contribution pay-as-you-go scheme can put the lower social economic classes at a disadvantage, when compared to the actuarially fair pensions. In contrast to that, higher classes experience a gain. This is due to the fact that mortality rates per socio-economic class are not considered by either scheme. Consequently, we propose a model that determines the parameters for each scheme and class which would render the pensions fairer even when no socio-economic mortality differences are considered.

Live-Stream: https://tuwien.zoom.us/j/67875612975, opens an external URL in a new window

Calendar entry

Event location

Conference Room Dekanat
1040 Vienna
Wiedner Hauptstr. 8-10, Seminarroom Dekanat, 9th floor, green area (with elevator to the 8th floor and via staircase to the 9th floor)

 

Organiser

ECON and FAM
Julia Hutter
julia.hutter@tuwien.ac.at

 

Public

Yes

 

Entrance fee

No

 

Registration required

No

Theory & Policy Seminar / Jennifer Alonso-García (ULB) / Mortality by socio-economic class and its impact on retirement schemes: how to render the system fairer

Jennifer Alonso-García will give a talk at our Economic Theory and Policy Seminar.

Jennifer Alonso-García, opens an external URL in a new window

"Mortality by socio-economic class and its impact on retirement schemes: how to render the system fairer"

Many OECD countries have addressed the issue of increased longevity by mainly increasing the retirement age. However, this kind of reforms may lead to substantial transfers from those with shorter lifespans to those that will live longer than the average, as they do not necessarily take into account the socio-economic differences in mortality. The contribution of our paper is therefore twofold. Firstly, we illustrate how both a Defined Benefit and a Notional Defined Contribution pay-as-you-go scheme can put the lower social economic classes at a disadvantage, when compared to the actuarially fair pensions. In contrast to that, higher classes experience a gain. This is due to the fact that mortality rates per socio-economic class are not considered by either scheme. Consequently, we propose a model that determines the parameters for each scheme and class which would render the pensions fairer even when no socio-economic mortality differences are considered.

Live-Stream: https://tuwien.zoom.us/j/67875612975, opens an external URL in a new window