Funding for longer lives
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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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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 |
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openAccess |
dc.format.none.fl_str_mv |
24 application/pdf |
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RCAAP |
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RCAAP |
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Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
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Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
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Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação |
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