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Differential Mortality and Redistribution in the Italian Notional Defined Contribution System

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Author Info
Carlo Mazzaferro ()
Marco Savegnago ()

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Abstract

In this paper we assess, through a financial measure (Net Present Value Ratio), the extent of the lifetime earning redistribution operated by the Notional Defined Contribution in a sample of individuals representative of the Italian population born from 1975 to 2000. Controlling mortality by the level of education we identify at least three channels of redistribution: among genders (from men to women), along educational lines (from low to high educated) and among income quintiles (from poor to rich). This happens because some groups systematically live less than average (men, loweducated and poor) while others live more than average (women, high educated and rich). This finding is not trivial: even if the NDC system assure long term financial sustainability, it harms the most disadvantaged groups like poor and low-educated people.

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Publisher Info
Paper provided by Universita di Modena e Reggio Emilia, Dipartimento di Economia Politica in its series Center for the Analysis of Public Policies (CAPP) with number 08091.

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Date of creation: Sep 2008
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Handle: RePEc:mod:cappmo:08091

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Related research
Keywords: Social security; Notional Defined Contribution; Italy;

Find related papers by JEL classification:
H55 - Public Economics - - National Government Expenditures and Related Policies - - - Social Security and Public Pensions
J14 - Labor and Demographic Economics - - Demographic Economics - - - Economics of the Elderly; Economics of the Handicapped

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This page was last updated on 2009-12-2.

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