NDC Schemes and Heterogeneity in Longevity : Proposals for Redesign (English)

A positive relationship between lifetime income and life expectancy leads to a redistribution mechanism when the average cohort life expectancy is applied for annuity calculation. Such a distortion puts into doubt the main features of the NDC (nonfinancial defined contribution) scheme and calls for alternative designs to compensate for the heterogeneity. This paper explores five key mechanisms of compensation: individualized annuities; individualized...

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Author

Holzmann,Robert;

Alonso-García,Jennifer;

Labit-Hardy,Heloise;

Villegas,Andrés M.;
Document Date
2019/04/01
Document Type
Working Paper (Numbered Series)
Report Number
136564
Volume No
1
Total Volume(s)
1
Country
World,
Region
Other,
Disclosure Date
2019/05/03
Disclosure Status
Disclosed
Doc Name
NDC Schemes and Heterogeneity in Longevity : Proposals for Redesign
Keywords
life expectancy

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Citation

Holzmann,Robert; Alonso-García,Jennifer; Labit-Hardy,Heloise; Villegas,Andrés M..

NDC Schemes and Heterogeneity in Longevity : Proposals for Redesign (English). Social Protection and Jobs Discussion Paper|no. 1913 Washington, D.C. : World Bank Group. http://documents.worldbank.org/curated/en/551391556883357303

NDC Schemes and Heterogeneity in Longevity : Proposals for Redesign (English)

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