Vienna Yearbook of Population Research 2018 Broadening demographic horizons
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Verlag der Österreichischen Akademie der Wissenschaften Austrian Academy of Sciences Press
A-1011 Wien, Dr. Ignaz Seipel-Platz 2
Tel. +43-1-515 81/DW 3420, Fax +43-1-515 81/DW 3400 https://verlag.oeaw.ac.at, e-mail: verlag@oeaw.ac.at |
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DATUM, UNTERSCHRIFT / DATE, SIGNATURE
BANK AUSTRIA CREDITANSTALT, WIEN (IBAN AT04 1100 0006 2280 0100, BIC BKAUATWW), DEUTSCHE BANK MÜNCHEN (IBAN DE16 7007 0024 0238 8270 00, BIC DEUTDEDBMUC)
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Vienna Yearbook of Population Research 2018 Broadening demographic horizons
ISSN 1728-4414
Print Edition ISSN 1728-5305 Online Edition ISBN 978-3-7001-8364-8 Print Edition ISBN 978-3-7001-8436-2 Online Edition
Graziella Caselli,
Rosa Maria Lipsi
S. 083 - 110 doi:10.1553/populationyearbook2018s083 Verlag der Österreichischen Akademie der Wissenschaften doi:10.1553/populationyearbook2018s083
Abstract: The public pension system in Italy is a defined contribution scheme based on the principle of actuarial fairness. The pension annuity is calculated starting from capitalised value and the Legislated Conversion Factors (LCFs) for each retirement age. The demographic parameters used by legislators in computing the LCFs are the survival probabilities of an average Italian, irrespective of gender or any characteristic except age. The aim of this paper is to analyse the impact of the differences in survival between men and women, and between individuals with different educational levels, on the calculation of the pension annuity, starting from the specific Conversion Factors (CFs). The gap between the LCFs and the factors obtained by allowing for differential survival across gender and socio-demographic groups (CFs) gives us a means of making a quantitative assessment of the implicit redistributive impacts of the annuity redistribution from individuals with a lower life expectancy to individuals with a higher life expectancy. Published Online: 2018/11/21 08:34:57 Object Identifier: 0xc1aa5576 0x003a11d6 Rights: .
Introduction
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Verlag der Österreichischen Akademie der Wissenschaften Austrian Academy of Sciences Press
A-1011 Wien, Dr. Ignaz Seipel-Platz 2
Tel. +43-1-515 81/DW 3420, Fax +43-1-515 81/DW 3400 https://verlag.oeaw.ac.at, e-mail: verlag@oeaw.ac.at |