Differential Mortality and Redistribution in the Italian Notional Defined Contribution System
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.
|Date of creation:||Sep 2008|
|Contact details of provider:|| Web page: http://www.capp.unimore.it|
More information through EDIRC
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Carlo Mazzaferro & Marcello Morciano, 2008.
"CAPP_DYN: A Dynamic Microsimulation Model for the Italian Social Security System,"
Department of Economics
0595, University of Modena and Reggio E., Faculty of Economics "Marco Biagi".
- Carlo Mazzaferro & Marcello Morciano, 2012. "CAPP_DYN: A Dynamic Microsimulation Model for the Italian Social Security System," Center for the Analysis of Public Policies (CAPP) 0048, Universita di Modena e Reggio Emilia, Dipartimento di Economia "Marco Biagi".
- Graziella Caselli & Franco Peracchi & Elisabetta Barbi & Rosa Maria Lipsi, 2003.
"Differential Mortality and the Design of the Italian System of Public Pensions,"
CEIS, vol. 17(SpecialIs), pages 45-78, 08.
- Graziella Caselli & Franco Peracchi & Elisabetta Barbi & Rosa Maria Lipsi, 2002. "Differential Mortality And The Design Of The Italian System Of Public Pensions," CHILD Working Papers wp07_02, CHILD - Centre for Household, Income, Labour and Demographic economics - ITALY.
- Monika Queisser & Edward R. Whitehouse, 2006. "Neutral or Fair?: Actuarial Concepts and Pension-System Design," OECD Social, Employment and Migration Working Papers 40, OECD Publishing.
- Jeffrey R. Brown, 2000.
"Differential Mortality and the Value of Individual Account Retirement Annuities,"
NBER Working Papers
7560, National Bureau of Economic Research, Inc.
- Jeffrey Brown, 2002. "Differential Mortality and the Value of Individual Account Retirement Annuities," NBER Chapters, in: The Distributional Aspects of Social Security and Social Security Reform, pages 401-446 National Bureau of Economic Research, Inc.
- Lillard, L.A. & Waite, L.J., 1993. "'Til Death Do Us Part: Marital Disruption and Mortality," Papers 93-10, RAND - Labor and Population Program.
When requesting a correction, please mention this item's handle: RePEc:mod:cappmo:0047. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Sara Colombini)
If references are entirely missing, you can add them using this form.