Português
Ciência_Iscte
Publications
Publication Detailed Description
Getting life expectancy estimates right for pension policy: period versus cohort approach
Journal Title
Journal of Pension Economics and Finance
Year (definitive publication)
2021
Language
English
Country
United Kingdom
More Information
Web of Science®
Scopus
Google Scholar
Abstract
In many policy areas it is essential to use the best estimates of life expectancy, but it is vital to most areas of pension policy. This paper presents the conceptual differences between static period and dynamic cohort mortality tables, estimates the differences in life expectancy for Portugal and Spain, and compares official estimates of both life expectancy estimates for Australia, the United Kingdom, and the United States for 1981, 2010, and 2060. These comparisons reveal major differences between period and cohort life expectancy in and between countries and across years. The implications of using wrong estimates for pension policy, including financial sustainability, are explored.
Acknowledgements
--
Keywords
Balancing mechanism,Cross-country comparison,Lee-Carter,Life expectancy indexation,G23,H55,J14
Fields of Science and Technology Classification
- Economics and Business - Social Sciences
