A positive relationship between lifetime income and life expectancy leads to a redistribution mechanism when the average cohort life expectancy is applied for annuity calculation. Such a distortion puts into doubt the main features of the NDC (nonfinancial defined contribution) scheme and calls for alternative designs to compensate for the heterogeneity. This paper explores five key mechanisms of compensation: individualized annuities; individualized...
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详细
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2019/04/01
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工作文件（编号系列）
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136564
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1
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1
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2019/05/03
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Disclosed
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NDC Schemes and Heterogeneity in Longevity : Proposals for Redesign
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life expectancy