The paradox of ageing

Detalhes bibliográficos
Autor(a) principal: Silva, Carlos Pereira da
Data de Publicação: 2006
Outros Autores: Corte Real, Pedro, Bravo, Jorge Miguel, Vaz-Paralta, Sara Sofia
Tipo de documento: Artigo
Idioma: eng
Título da fonte: Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
Texto Completo: http://hdl.handle.net/10400.5/2190
Resumo: Paper prepared for presentation at the 28th International Congress of Actuaries, Paris 2006
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spelling The paradox of ageingAgeingLonger LongevitySocial SecurityPensionPaper prepared for presentation at the 28th International Congress of Actuaries, Paris 2006In this paper, we discuss the so-called paradox of ageing, with respect to the members of the age group 55-64 years of age. This generation is (currently) too young to retire, despite the length of their working lives - for some in excess of forty years - and high earnings, yet is too old to continue working, since employers prefer to hire younger, more flexible and less expensive workers. Furthermore, official statistics show that the longevity of this generation is higher than its predecessors, an evolution that would apparently call for a gradual increase in the retirement age. The argument put forward by its advocates is that by keeping people at work for some more years, additional contributions will be received while delaying pension expenditure, thus compensating for the longer longevity prospects. We argue that, from the point of view of the long-term financial sustainability of the Social Security system, it would be preferable to provide this generation with an option to anticipate the retirement age, while penalising their retirement pension until they reach the age of 65. Such an option would serve as an alternative to a scenario of long-term unemployment in which individuals are granted unemployment benefits, normally exceeding the amount of the "anticipated pension", at the same time as they continue to accumulate pension rights with no contributions to the system. Faced with a situation in which rationing exists in the supply of individual life annuities by the insurance market, we discuss the creation of a financial reserve fund to support life-expectancy increases for all generations, funded by a supplementary contribution, which would be used to pay for the pensions in excess of those resulting from a constant lifespan at the age of retirement for all of the generations. Since the "ageing equation" has no single solution, our aim is to broaden the current debate on the long-term financial sustainability of the Social Security systems towards a richer perspective, in which raising the age of retirement is not the only solution.ISEG – Departamento de GestãoRepositório da Universidade de LisboaSilva, Carlos Pereira daCorte Real, PedroBravo, Jorge MiguelVaz-Paralta, Sara Sofia2010-07-20T11:02:57Z20062006-01-01T00:00:00Zinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/articleapplication/pdfhttp://hdl.handle.net/10400.5/2190engSilva, Carlos Pereira da ... [et al.]. 2006. "The paradox of ageing". Instituto Superior de Economia e Gestão. Departamento de Gestão. Working papers series nº 2-06.0874-8470info: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:RCAAP2023-03-06T14:33:25Zoai:www.repository.utl.pt:10400.5/2190Portal AgregadorONGhttps://www.rcaap.pt/oai/openaireopendoar:71602024-03-19T16:50:15.250521Repositório 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 The paradox of ageing
title The paradox of ageing
spellingShingle The paradox of ageing
Silva, Carlos Pereira da
Ageing
Longer Longevity
Social Security
Pension
title_short The paradox of ageing
title_full The paradox of ageing
title_fullStr The paradox of ageing
title_full_unstemmed The paradox of ageing
title_sort The paradox of ageing
author Silva, Carlos Pereira da
author_facet Silva, Carlos Pereira da
Corte Real, Pedro
Bravo, Jorge Miguel
Vaz-Paralta, Sara Sofia
author_role author
author2 Corte Real, Pedro
Bravo, Jorge Miguel
Vaz-Paralta, Sara Sofia
author2_role author
author
author
dc.contributor.none.fl_str_mv Repositório da Universidade de Lisboa
dc.contributor.author.fl_str_mv Silva, Carlos Pereira da
Corte Real, Pedro
Bravo, Jorge Miguel
Vaz-Paralta, Sara Sofia
dc.subject.por.fl_str_mv Ageing
Longer Longevity
Social Security
Pension
topic Ageing
Longer Longevity
Social Security
Pension
description Paper prepared for presentation at the 28th International Congress of Actuaries, Paris 2006
publishDate 2006
dc.date.none.fl_str_mv 2006
2006-01-01T00:00:00Z
2010-07-20T11:02:57Z
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/10400.5/2190
url http://hdl.handle.net/10400.5/2190
dc.language.iso.fl_str_mv eng
language eng
dc.relation.none.fl_str_mv Silva, Carlos Pereira da ... [et al.]. 2006. "The paradox of ageing". Instituto Superior de Economia e Gestão. Departamento de Gestão. Working papers series nº 2-06.
0874-8470
dc.rights.driver.fl_str_mv info:eu-repo/semantics/openAccess
eu_rights_str_mv openAccess
dc.format.none.fl_str_mv application/pdf
dc.publisher.none.fl_str_mv ISEG – Departamento de Gestão
publisher.none.fl_str_mv ISEG – Departamento de Gestão
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
instacron_str RCAAP
institution RCAAP
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
repository.mail.fl_str_mv
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