April 2024
17Apr

How The US Economy Avoids The Longevity Trap

By Anthony Roth   The anticipated increase in the proportion of the American population aged 65 and older—from 58 million in 2022 to a projected 82 million by 2050—calls attention to the economic implications of increased longevity. Yes, this trend will bring significant challenges to continued economic growth. Fortunately, I believe the U.S. is uniquely positioned to overcome these challenges and capitalize on the economic opportunities related to longevity. Strength In Aging A key to any discussion of the increasing age of our population should also...

April 17, 2024
News, OP Ed, Op-Ed,
Read more...
05Apr

The future of life expectancy

By Prachi Patkee & Adam Strange Human longevity is one of the great success stories of the past century, and there is broad consensus that there are further gains to come. Mortality improvement forecasts underpin the insurance industry's long-term mortality and longevity lines of business. To generate long term forecasts, defined as beyond 20 years, a holistic view of the factors that influence mortality, which combine analyses of historic trends with a forward-looking view of medical advances, societal changes and...

April 5, 2024
Books, Books, Labor Market, Reports, , ,
Read more...
05Apr

Regressivity in Public Pension Systems: The Case of Peru

By Jose Valderrama We study the role of income-mortality differentials and pension eligibility conditions on the level of regressivity and progressivity of Peru’s public pension system, using administrative records from 1999 to 2018 to do so. We consider the joint effect of insufficient contributions, by which the poorest contribute to the pension system butultimately do not qualify for pensions because of insufficient contributions, and differing mortality by socioeconomic status in contributing to regressivity of the system. We find that the...

April 5, 2024
Articles, Pension design, , , ,
Read more...

March 2024
11Mar

US. Meet the typical retiree: A married woman in her 70s living on $30,000 a year in Maine or Florida

The majority of America's retirees are married, female, and have just a high school diploma. Retirees in the US have an average income of around $35,000. Florida, New Hampshire, and Main's populations all have a big share of retirees.   Baby boomers are in their retirement era. Of the generation born between 1946 and 1964, per Pew Research, less than 20% of Americans over the age of 65 were employed as of 2023. However, that's more than double the share of...

March 11, 2024
News,
Read more...
08Mar

Aging population to be major driver of future climate-related deaths

Climate change poses profound public health threats to people of all ages. But as the climate changes, the world is facing another public health challenge: aging. The proportion of the world’s population 65 and older is projected to rise from 9% at present to 16% in 2050. As the earth’s temperature becomes more extreme, population aging is expected to substantially amplify future heat- and cold-related deaths, a new study from the Yale School of Public Health (YSPH) shows. According to the study, published...

March 8, 2024
News, ,
Read more...
06Mar

U.S. Centenarians Projected To Quadruple By 2054—Will You Be Prepared?

In 30 years. the number of people reaching age 100 in the U.S. is projected to quadruple, according to a recent report from the Pew Research Center. The center projects that by 2054, the U.S. will be the home of 422,000 centenarians, up from 101,000 in 2024. And the percentage of the total population that is age 100 or older will increase from 0.03% today to 0.1% in 2054. The projected increase in super-agers is one sign of the increased health and...

March 6, 2024
News, ,
Read more...

February 2024
22Feb

Is This Big Risk Lurking in Your Social Security Claiming Math?

By: John Manganaro     ThinkAdvisor published the latest in an ongoing series of Social Security claiming case studies earlier this month, finding the optimal claiming scenario for the sample married couple at hand would be to draw their benefits earlier than the maximum claiming age of 70. That result, based mainly on the fact that the couple had a highly uneven earnings history and a small but meaningful gap in longevity expectations, surprised some readers, and it sparked a number of insightful discussions with both...

February 22, 2024
News, OP Ed, Op-Ed,
Read more...

January 2024
08Jan

The Four Headwinds of Retirement and How to Combat Them

Dipping your toes in the fresh waters of an exotic beach. Enjoying a gorgeous sunset and your favorite drink as you relax on the back patio. Getting lost in a painting because you have all the time in the world to perfect every brushstroke. Spending more time with family and friends. These are the types of things you dream of indulging in when you retire. You don’t picture worrying about how much money you have in the bank or trying...

January 8, 2024
News, , ,
Read more...

December 2023
15Dec

Subjective survival beliefs and social networks

By Seung Jeonga, Iqbal Owadallya, Steven Habermana & Douglas Wright People's perceptions about their chances of survival are known to deviate from the objective survival probabilites derived statistically from mortality data. This is crucial because it may explain why people save too little, why their retirement plans are inadequate, and why they do not buy financial security products such as life insurance and annuities which could protect them and their family in the event of early death or in old...

December 15, 2023
Aging, Articles, , , ,
Read more...
15Dec

Playing the Long Game: How Longevity Affects Financial Planning and Family Caregiving

By Surya Kolluri, Janet Weiner & Mary Naylor Since 1935, when Social Security set the age to receive full benefits at 65, average life expectancy in the United States has risen by 17 years. This increased longevity has clear implications for financial planning, both in terms of the timing of retirement and the need to plan for a longer period of retirement. But there are less obvious implications as well, in terms of the likelihood and length of time that...

December 15, 2023
Articles, Pension design, , , ,
Read more...