Pensions and Mortality / Paul J. Taubman.

By:

Taubman, Paul J

Contributor(s):

National Bureau of Economic Research

Material type: Text

TextSeries: Working Paper Series (National Bureau of Economic Research) ; no. w0811.Publication details: Cambridge, Mass. National Bureau of Economic Research 1981.Description: 1 online resource: illustrations (black and white)Subject(s):

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Abstract: Pensions and age specific death rates are intertwined in several ways. Pensions provide a mechanism to remove the uncertainty about date of death from consumption planning. Age specific death rates determine the cost and value of pensions. In this paper, we use the Retirement History Survey to estimate reduced form functions for the probability of having a pension when the person reaches 65 and on the dollar amount of the pension. We also evaluate the effect of 15% drop in age specific death rates from 1973 to 1979 on the costs of a pension. We find that the probability of having a pension is related to education, marital status, occupation, industry and assets. The probability equation is very similar for males and females. We find that the sharp drop in death rates has only a marginal impact on the cost of providing a pension.

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Item type	Home library	Collection	Call number	Status	Date due	Barcode	Item holds
Working Paper	Biblioteca Digital	Colección NBER	nber w0811 (Browse shelf(Opens below))	Not For Loan

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December 1981.

Pensions and age specific death rates are intertwined in several ways. Pensions provide a mechanism to remove the uncertainty about date of death from consumption planning. Age specific death rates determine the cost and value of pensions. In this paper, we use the Retirement History Survey to estimate reduced form functions for the probability of having a pension when the person reaches 65 and on the dollar amount of the pension. We also evaluate the effect of 15% drop in age specific death rates from 1973 to 1979 on the costs of a pension. We find that the probability of having a pension is related to education, marital status, occupation, industry and assets. The probability equation is very similar for males and females. We find that the sharp drop in death rates has only a marginal impact on the cost of providing a pension.