منابع مشابه
Collective Annuities and Redistribution. Collective Annuities and Redistribution
In a number of countries one observes a steady decline in defined benefits pensions schemes, public or private, funded or unfunded, and a simultaneous expansion of defined contributions plans. One of the consequences of this trend is to deprive individuals at the time of their retirement from the benefit of collective annuitization. Collective annuities can be distinguished from individual ones...
متن کاملLife expectancy heterogeneity and the political support for collective annuities
Individuals, di¤ering in productivity and life expectancy, vote over the size and type of a collective annuity. Its type is represented by the fraction of the contributive (Bismarckian) component (based on the workers past earnings) as opposed to the noncontributive (Beveridgean) part (based on average contribution). The equilibrium collective annuity is either a large mostly Bismarckian progr...
متن کاملRedistribution by insurance market regulation: Analyzing a ban on gender-based retirement annuities.
We illustrate how equilibrium screening models can be used to evaluate the economic consequences of insurance market regulation. We calibrate and solve a model of the United Kingdom's compulsory annuity market and examine the impact of gender-based pricing restrictions. We find that the endogenous adjustment of annuity contract menus in response to such restrictions can undo up to half of the r...
متن کاملLongevity and Annuities: an Introduction
For decades the debate on pensions has focused on the “accumulation phase” of the life-cycle. Many specific research topics have been explored as this literature has developed. However, they were all in one way or another concerned by the adequacy of saving. In other words, the main focus of the existing literature has been on the question of setting enough resources aside to keep the flow of c...
متن کاملMandated annuities in Switzerland
Switzerland is one of the few countries with a relatively mature funded pension scheme. This paper offers a short description of the Swiss system, highlighting two specific areas for which previous experience is particularly valuable. Taking the Swiss example, firstly, it illustrates the importance of prudential regulation and adequate transparency standards. Secondly, the paper explores the im...
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ژورنال
عنوان ژورنال: Journal of Public Economic Theory
سال: 2010
ISSN: 1097-3923,1467-9779
DOI: 10.1111/j.1467-9779.2009.01445.x