Redistributive effects of the US pension system among individuals with different life expectancy

Abstract

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Growth and Welfare Implications of Mortality Differentials in Unfunded Social Security Systems

“…However, as numerous studies have found, such as Lleras-Muney (2005), Meara, Richards, and Cutler (2008), Bound et al (2015), and Chetty et al (2016), mortality risk tends to decline with education and income. Taking the relationship between income and mortality as given, Sánchez-Romero and Prskawetz (2017), Bagchi (2019), and Bishnu, Guo, and Kumru (2019) each investigate how the progressivity of PAYG Social Security is impacted by differential mortality and show that the progressivity of PAYG systems is negatively impacted by mortality inequality. The general consensus from this literature is that mortality differentials have a significant impact on the economic efficiency of Social Security systems and therefore must be accounted for in the design of such programs.…”

A review of existing pension services in developed and developing countries

“…This type of pension is also subdivided into: social; loss of a breadwinner; old age; on disability; and for the length of service. The size of the pension is influenced by the length of employment and service, salary, and pension contributions of citizens [49,50].…”

Survival inequalities and redistribution in the Italian pension system

“…Yet we would argue that no analysis of the links between survival, ageing, and pension expenditures (and, more generally, welfare expenditures) can afford to ignore the differential aspects of the demographic process, as survival varies by gender, social class, and educational level (Caselli et al 2003;Lipsi and Tomassini 2009;Luy et al 2011). Thus, to properly evaluate the redistributive effects of social security and health care policies, it is essential that we study the differential aspects of survival (Bommier et al 2011;Donnelly 2015;Pestieau and Ponthiere 2016;Piggott et al 2005;Sanchez-Romero and Prskawetz 2017).…”