Gender Convergence in Human Survival and the Postponement of Death

Mayhew, Les; Smith, David A.

doi:10.1080/10920277.2013.863140

Cited by 19 publications

(14 citation statements)

References 36 publications

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“…These findings are consistent with Mayhew and Smith (2014), using a different methodology, which found that the standard deviation in age at deaths was increasing for men and slightly decreasing for women. According to that research this trend looks set to continue into the next decade during by which time life expectancy between men and women at age 30 would converge (but not in terms of age related inequalities).…”

Section: The Divergent Case (Period C)supporting

confidence: 91%

“…Examples of different start ages in the inequalities literature include 10, 15, 50 etc (e.g. see Vallin and Mesle 2009;Edwards 2011;or Mayhew and Smith 2014). In this paper we start at age 30, as we wish to focus on inequalities that account for most of the normal adult lifespan.…”

Section: Methods Of Analysismentioning

confidence: 99%

“…In effect, we are treating inequalities in infant and early adult mortality in a different category to general survivorship, without relegating its importance in any way. This is to avoid the possible confounding effects of infant mortality, but also deaths in early adult age which tends to be higher for men than women (Kannisto 2000 and2001;Mayhew and Smith 2014).…”

Section: Methods Of Analysismentioning

confidence: 99%

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An Investigation into Inequalities in Adult Lifespan

Mayhew

Smith

2019

North American Actuarial Journal

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This very timely report highlights how, despite huge increases in life expectancy, the gap in lifespan between richest and poorest in society is increasing for the first time since the 1870s. Life expectancy increased in the early part of the 20 th Century due to, among other things, improvements in health, clean drinking water and the introduction of vaccination. This paper finds that in England and Wales, 5% of men that have attained the age of 30 are living on average to 96.0 years, 33.3 years longer than the lowest 10%. This gap grew by 1.7 years between 1993, when it was at its narrowest, and 2009. ILC-UK's own 2014 research (Linking State Pension Age to Longevity), supported by Age UK, found that measures such as healthy life expectancy and disability-free life expectancy vary significantly by region and social class. This trend is particularly worrying for society and policymakers must do more to begin to narrow this gap again. Preventing inequalities due to ill health and disability must be a priority for policy action. But there is also a fairness challenge in the context of increasing the State Pension Age. John Cridland has been appointed by the Government as the Independent Reviewer of State Pension Age. Whilst sustainability of the state pension will be at the forefront of his concerns, Mr Cridland is also likely to consider the impact of inequalities in life expectancy. ILC-UK believes there are likely to be significant unintended consequences of further increases to State Pension Age in 2028 if inequalities in lifespan are not addressed. Increasing State Pension Age up to levels where disability rates are higher raises concerns about transferring spending from the State Pension to disability or other working age benefits. Increasing the State Pension Age further might also impact on the supply of carers as some people are obliged to work for longer when they would prefer to be carers. Public policy is beginning to recognise the challenges ahead. The DWP Select Committee are conducting an Inquiry into "early drawing of the state pension". Labour have proposed a flexible state pension age so manual workers can retire earlier than other workers. We hope that this paper adds to the evidence base to allow for an informed debate. The challenge now is how we can reduce inequalities in the future whilst, in the short term, ensure that the poorest among us do not find retirement out of their reach.

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Section: The Divergent Case (Period C)supporting

confidence: 91%

Section: Methods Of Analysismentioning

confidence: 99%

Section: Methods Of Analysismentioning

confidence: 99%

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An Investigation into Inequalities in Adult Lifespan

Mayhew

Smith

2019

North American Actuarial Journal

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“…However, as far as annuities are concerned it is men that are disadvantaged since the introduction of unisex pricing of annuities from December 2012. Financially, this benefits women because they live longer (although men have been catching upsee Mayhew and Smith, 2014b).…”

Section: (A) Selection Effectsmentioning

confidence: 99%

The effect of longevity drift and investment volatility on income sufficiency in retirement

Mayhew

Smith

Wright

2018

Insurance: Mathematics and Economics

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In 2014 the Government announced radical proposals which now allow people to withdraw money from their pension pot from age 55, 'how they want, subject to their marginal rate of income tax in that year'. The main effect of this change will be to put more onus on the individual to make sure they have sufficient resources to last for their retirement, but it also removes the obligation to annuitise their funds at any future age. This paper is concerned with how people can best use their pension pots by aligning them to their personal financial objectives and longevity risks. It finds that for most people annuitising is not the best option, except for a few circumstances, and that draw down is preferable, especially where there is a bequest motive and the individual has assets such as property to fall back on. These options are low risk if simple rules are followed but they are not a substitute for professional advice and should only be used in conjunction.

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“…For England and Wales, Mayhew and Smith (2014) found a well-entrenched trend with life expectancy for males improving more quickly than for females over the most recent periods. They also analyzed other countries.…”

Section: -Introductionmentioning

confidence: 99%

How Do Unisex Life Care Annuities Embedded in a Pay-As-You-Go Retirement System Affect Gender Redistribution?

Vidal‐Meliá

Ventura-Marco

Pla-Porcel³

2017

SSRN Journal

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This paper aims to assess gender redistribution when using unisex conversion factors to compute the initial benefit of life care annuities (LCAs) embedded in a pay-as-you-go (PAYG) pension system. We use a method based on actuarial factors to disentangle the hidden redistribution of LCAs with graded benefits. The value of the actuarial factor relies on a multistate framework in which transitions are modeled from the initial health state to the absorbing state. According to our calculations for Australia and the US, the amount of gender redistribution is by no means irrelevant. In spite of the very different biometric data, the results are surprisingly similar for both countries. Risk equalization based on the "equal treatment" of men and women may not be fair, given that age, gender and health state are very significant risk factors in computing the initial benefit in a system covering retirement and long-term care.

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Gender Convergence in Human Survival and the Postponement of Death

Cited by 19 publications

References 36 publications

An Investigation into Inequalities in Adult Lifespan

An Investigation into Inequalities in Adult Lifespan

The effect of longevity drift and investment volatility on income sufficiency in retirement

How Do Unisex Life Care Annuities Embedded in a Pay-As-You-Go Retirement System Affect Gender Redistribution?

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