ECOPUB

Optimal pension design when individuals have different longevities

 Coordinatore UNIVERSITE CATHOLIQUE DE LOUVAIN 

 Organization address address: Place De L'Universite 1
city: LOUVAIN LA NEUVE
postcode: 1348

contact info
Titolo: Mr.
Nome: François
Cognome: Maniquet
Email: send email
Telefono: 00320(0)10474328
Fax: 0032(0)10474301

 Nazionalità Coordinatore Belgium [BE]
 Totale costo 0 €
 EC contributo 150˙257 €
 Programma FP7-PEOPLE
Specific programme "People" implementing the Seventh Framework Programme of the European Community for research, technological development and demonstration activities (2007 to 2013)
 Code Call FP7-PEOPLE-IEF-2008
 Funding Scheme MC-IEF
 Anno di inizio 2009
 Periodo (anno-mese-giorno) 2009-05-01   -   2011-04-30

 Partecipanti

# participant  country  role  EC contrib. [€] 
1    UNIVERSITE CATHOLIQUE DE LOUVAIN

 Organization address address: Place De L'Universite 1
city: LOUVAIN LA NEUVE
postcode: 1348

contact info
Titolo: Mr.
Nome: François
Cognome: Maniquet
Email: send email
Telefono: 00320(0)10474328
Fax: 0032(0)10474301

BE (LOUVAIN LA NEUVE) coordinator 150˙257.73

Mappa


 Word cloud

Esplora la "nuvola delle parole (Word Cloud) per avere un'idea di massima del progetto.

replacement    lower    redistribution    differential    rates    mortality    then    social    security    wage    longevity    life    economics    expectancy    individuals    link    ageing    pension    reforms   

 Obiettivo del progetto (Objective)

'Following population ageing and some recently engaged reforms of pensions systems in several European countries, the question of how to link systems to longevity has become a topic of major interest. Not only longevity is a crucial aspect to take into account in pension reforms but also differential mortality has to be considered. Besides, pension systems have two main objectives; the first one being to provide resources to individuals in their old age, once they are not able to work anymore and the second one being a redistributive concern. Indeed, in the latter case, many European Social Security systems are used by governments as an instrument to smooth inequalities so that low-wage individuals obtain higher replacement rates than high-wage individuals. Yet, recent studies proved that part of this income redistribution is neutralized because, precisely, of differences in life expectancy. To be more explicit, individuals with lower wage get higher replacement rates but also have, on average, a lower life expectancy so that they do not benefit from this redistribution as much as they ought to. Thus, when talking about the link between life expectancy and pension design, several issues have to be considered. On the one hand, one has to consider that increased life expectancy makes more urgent the reform of our systems, since financial viability is at stake but, on the other hand, differential mortality has also to be taken into account in the design of Social Security schemes. Our project will then mainly focus on the issue of the optimal design of Social Security when individuals have different life expectancies and try to answer the following questions: how should differential mortality be included in pension systems? How should contributions and benefits be linked to life duration? This project then lies at the frontier of public economics, health economics, behavioral economics and the economics of ageing.'

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