We examine pension buyout transactions and longevity risk securitization in a common framework, emphasizing the role played by asymmetries in capital requirements and mortality forecasting technology. The results are used to develop a coherent model of intermediation of longevity exposures, between defined benefit pension schemes and capital market investors, through insurers operating in the p...

This article reviews the retirement options available to Swedes aged 60 to 64 under their national pension system. Summaries of the various options are followed by an analysis of the relative attractiveness of each option using hypothetical 60-year-old workers with varying characteristics. The proportion of 60- to 64-year-old Swedes selecting each option corresponds closely to the relative attr...

We compare firm-optimizing and institutional models of labor contracts to investigate how certain types of pension plans affect training. Unlike previous studies, we consider an expanded voice model of training and pension coverage in which worker and union preferences feed back upon firm decisions and we test for this bi-directional causality between pensions and training. The data consist of ...

PURPOSE The aim was to examine the potential influence of social isolation and low societal participation on the future risk of receiving disability pension among individuals in Sweden. A specific aim was to describe differences depending on disability pension diagnoses, and how the results were modified by sex and age. METHOD The study comprised representative samples of Swedish women and me...

This article emphasizes class politics and path dependence in accounting for the development of pension regimes in Sweden, Denmark and the Netherlands. The political strength of the Swedish Social Democratic Party in alliance with the trade unions resulted in the emergence of a statist pension system. In the Netherlands and Denmark, a politically weak and divided left settled for collectively r...

Results: This paper finds that a combination of immediately delayed retirement and accumulated pension system should be implemented if based on the goal of maximizing output, while a combination of undelayed retirement and accumulated pension system should be implemented if based on the goal of maximizing utility. Certainly, with using efficiency of elements unchanged, with the decrease of work...

BACKGROUND Occupations and psychosocial working conditions have rarely been investigated as predictors of disability pension in population-based samples. This study investigated how occupational groups and psychosocial working conditions are associated with future disability pension due to musculoskeletal diagnoses, accounting for familial factors in the associations. METHODS A sample of 24,5...

In this paper I examine the effects of occupational pension coverage and measures of pension portability loss on voluntary job changes using a sample selection model with endogenous switching. The model estimates, derived from German panel data for 1995-1998, indicate that occupational pension coverage reduces worker mobility by imposing a capital loss on those leaving their job before retireme...