Funding for longer lives

Detalhes bibliográficos
Autor(a) principal: Bravo, Jorge Miguel
Data de Publicação: 2019
Tipo de documento: Artigo
Idioma: eng
Título da fonte: Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
Texto Completo: http://hdl.handle.net/10362/92271
Resumo: Bravo, J. M. (2019). Funding for longer lives: retirement wallet and risk-sharing annuities. Ekonomiaz. Basque Economic Review, 96(2), 268-291.
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spelling Funding for longer livesretirement wallet and risk-sharing annuitiesLongevity-linked life annuitiesPension decumulationRisk-sharingRetirement walletPension reformEquity release mechanismsCultural StudiesPolitical Science and International RelationsEconomics, Econometrics and Finance(all)Bravo, J. M. (2019). Funding for longer lives: retirement wallet and risk-sharing annuities. Ekonomiaz. Basque Economic Review, 96(2), 268-291.Longevity increases and population ageing create challenges for all societal institutions, particularly those providing retirement income, health care, and long-term care services. At the individual level, an obvious question is how to ensure all retirees have an adequate, secure, stable and predictable lifelong income stream that will allow them to maintain a target standard of living for however long the individual lives. In this paper we introduce and discuss the concept of retirement wallet representing the multiple income and service sources individuals and their families will have to fund for longer lives. We then address the main decumulation risks and options, including the adoption of a given longevity insurance strategy, of a programmed withdrawal strategy and of an investment strategy. The main payout options available for allocating assets accumulated in pension plans are discussed, particularly the role of traditional and innovative investment and longevity risk-sharing structures. We provide illustrative results for the price of innovative participating longevity-linked life annuities (PLLAs) that link benefits to the dynamics of both a longevity index and an interest rate adjustment factor using Spanish mortality and financial market data.NOVA Information Management School (NOVA IMS)Information Management Research Center (MagIC) - NOVA Information Management SchoolRUNBravo, Jorge Miguel2020-02-05T23:43:51Z2019-10-252019-10-25T00:00:00Zinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/article24application/pdfhttp://hdl.handle.net/10362/92271eng0213-3865PURE: 15227136info:eu-repo/semantics/openAccessreponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãoinstacron:RCAAP2024-03-11T04:41:04Zoai:run.unl.pt:10362/92271Portal AgregadorONGhttps://www.rcaap.pt/oai/openaireopendoar:71602024-03-20T03:37:29.031301Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãofalse
dc.title.none.fl_str_mv Funding for longer lives
retirement wallet and risk-sharing annuities
title Funding for longer lives
spellingShingle Funding for longer lives
Bravo, Jorge Miguel
Longevity-linked life annuities
Pension decumulation
Risk-sharing
Retirement wallet
Pension reform
Equity release mechanisms
Cultural Studies
Political Science and International Relations
Economics, Econometrics and Finance(all)
title_short Funding for longer lives
title_full Funding for longer lives
title_fullStr Funding for longer lives
title_full_unstemmed Funding for longer lives
title_sort Funding for longer lives
author Bravo, Jorge Miguel
author_facet Bravo, Jorge Miguel
author_role author
dc.contributor.none.fl_str_mv NOVA Information Management School (NOVA IMS)
Information Management Research Center (MagIC) - NOVA Information Management School
RUN
dc.contributor.author.fl_str_mv Bravo, Jorge Miguel
dc.subject.por.fl_str_mv Longevity-linked life annuities
Pension decumulation
Risk-sharing
Retirement wallet
Pension reform
Equity release mechanisms
Cultural Studies
Political Science and International Relations
Economics, Econometrics and Finance(all)
topic Longevity-linked life annuities
Pension decumulation
Risk-sharing
Retirement wallet
Pension reform
Equity release mechanisms
Cultural Studies
Political Science and International Relations
Economics, Econometrics and Finance(all)
description Bravo, J. M. (2019). Funding for longer lives: retirement wallet and risk-sharing annuities. Ekonomiaz. Basque Economic Review, 96(2), 268-291.
publishDate 2019
dc.date.none.fl_str_mv 2019-10-25
2019-10-25T00:00:00Z
2020-02-05T23:43:51Z
dc.type.status.fl_str_mv info:eu-repo/semantics/publishedVersion
dc.type.driver.fl_str_mv info:eu-repo/semantics/article
format article
status_str publishedVersion
dc.identifier.uri.fl_str_mv http://hdl.handle.net/10362/92271
url http://hdl.handle.net/10362/92271
dc.language.iso.fl_str_mv eng
language eng
dc.relation.none.fl_str_mv 0213-3865
PURE: 15227136
dc.rights.driver.fl_str_mv info:eu-repo/semantics/openAccess
eu_rights_str_mv openAccess
dc.format.none.fl_str_mv 24
application/pdf
dc.source.none.fl_str_mv reponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação
instacron:RCAAP
instname_str Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação
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reponame_str Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
collection Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
repository.name.fl_str_mv Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação
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