Introduction

Abstract

Globally, the twenty-first century will witness rapid population ageing. Already in 2050, one out of five persons in the world, and one out of three in Europe, is expected to be 60 or over (UN 2015). Moreover, we have entered into a new stage of population ageing in terms of its causes, which have altered its consequences. In the first stage, lasting until the middle of the twentieth century in developed countries, population ageing was entirely due to the decline in fertility, with Sweden being commonly used as an example (Coale 1957; Bengtsson and Scott 2010; Lee and Zhou 2017). During this stage, the increase in life expectancy was primarily driven by declines in infant and child mortality. It worked in the opposite direction to

Annuities in (N)DC Pension Schemes: Design, Heterogeneity, and Estimation Issues

“…Countries quite commonly do not employ sophisticated statistical projection procedures in making official projections of life expectancy. Instead, there is a long legacy of employing straightforward period statistics based on mortality rates by age in the most recent year -or a moving average of such calculations for a series of years (Bengtsson et al 2018). This procedure is referred to as the period method in the literature.…”

Ndc Schemes and Heterogeneity in Longevity: Proposals for Redesign

“…Countries quite commonly do not use sophisticated statistical projection procedures in making official projections of life expectancy. Instead, there is a long legacy of using straightforward period statistics based on mortality rates by age in the most recent yearor a moving average of such calculations for a series of years (Bengtsson et al 2018). This procedure is referred to in the literature as the period method.…”