Proceedings of the 22nd International Scientific Conference on Applications of Mathematics and Statistics in Economics (AMSE 2019)

Differences in relative prospective age determined by cohort and period life tables

Authors
Tomáš Fiala, Jitka Langhamrová
Corresponding Author
Tomáš Fiala
Available Online October 2019.
DOI
https://doi.org/10.2991/amse-19.2019.12How to use a DOI?
Keywords
prospective age, relative prospective age, period life tables, cohort life tables
Abstract
Increasing the pension age above the usual threshold of 65 years is very often recommended to ensure financial sustainability of old-age pension systems, especially of those based on the PAYG principle. At the same time, a closer and clearer relation between the pension age threshold and the level of mortality is required. A possible way may be using the concept of so-called “relative” prospective age, which would ensure that the average proportion of the time of receiving an old-age pension to the total life span would remain approximately constant. It seems to be natural to determine the relative prospective age using not period, but cohort life tables. But cohort life tables are not as widely available as period ones. Moreover, it is proven that in some cases cohort and period prospective ages are almost identical. The paper presents a comparison of differences in retirement ages based on the relative prospective age concept derived by cohort life tables and by period ones separately for Czechia, Slovakia, Poland and Spain. Computations are based on the latest available Eurostat data and population projection.
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Proceedings
22nd International Scientific Conference on Applications of Mathematics and Statistics in Economics (AMSE 2019)
Part of series
Atlantis Studies in Uncertainty Modelling
Publication Date
October 2019
ISBN
978-94-6252-804-8
ISSN
2589-6644
DOI
https://doi.org/10.2991/amse-19.2019.12How to use a DOI?
Open Access
This is an open access article distributed under the CC BY-NC license.

Cite this article

TY  - CONF
AU  - Tomáš Fiala
AU  - Jitka Langhamrová
PY  - 2019/10
DA  - 2019/10
TI  - Differences in relative prospective age determined by cohort and period life tables
BT  - 22nd International Scientific Conference on Applications of Mathematics and Statistics in Economics (AMSE 2019)
PB  - Atlantis Press
SP  - 113
EP  - 119
SN  - 2589-6644
UR  - https://doi.org/10.2991/amse-19.2019.12
DO  - https://doi.org/10.2991/amse-19.2019.12
ID  - Fiala2019/10
ER  -