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A Fixed Career Length Versus a Fixed Retirement Age: An Analysis per Socio-Economic Groups

In: Mathematical and Statistical Methods for Actuarial Sciences and Finance

Author

Listed:
  • M. Carmen Boado-Penas

    (University of Liverpool)

  • Pierre Devolver

    (Université Catholique Louvain)

  • Şule Şahin

    (University of Liverpool)

  • Carlos Sunyer

    (Universidad Carlos III Madrid)

Abstract

An increase in pension age is one of the most common reforms to restore the financial sustainability of the pension scheme. However, this measure might damage individuals from lower socio-economic groups who, on average, have shorter life expectancy. This paper aims to analyse to what extent a fixed reference career duration instead of a reference retirement age acts as an automatic balancing mechanism that contributes to strength the actuarial fairness/equity in the current public pension schemes and mitigate the inequality among different socio-economic groups.

Suggested Citation

  • M. Carmen Boado-Penas & Pierre Devolver & Şule Şahin & Carlos Sunyer, 2022. "A Fixed Career Length Versus a Fixed Retirement Age: An Analysis per Socio-Economic Groups," Springer Books, in: Marco Corazza & Cira Perna & Claudio Pizzi & Marilena Sibillo (ed.), Mathematical and Statistical Methods for Actuarial Sciences and Finance, pages 115-120, Springer.
    • Handle: RePEc:spr:sprchp:978-3-030-99638-3_19
    DOI: 10.1007/978-3-030-99638-3_19
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