Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/282210 
Year of Publication: 
2022
Series/Report no.: 
KRTK-KTI Working Papers No. KRTK-KTI WP - 2022/17
Publisher: 
Hungarian Academy of Sciences, Institute of Economics, Centre for Economic and Regional Studies, Budapest
Abstract: 
Studying the age-dimension of the probability distribution of pensions while assuming steadily rising real wages and time-invariant benefit-rules, two factors play important roles: (i) the weight of the wages in indexation of benefits in progress; (ii) the longevity gap. Factor (i) acts against relative depreciation of older benefits, while factor (ii) raises the share of higher benefits among older cohorts. Using an example and a model we show how the shape of the average benefit--age-curve depends on the relation between these two factors.
Subjects: 
public pension system
longevity gap
indexation of pensions in progress
agespecific pensions
JEL: 
H55
Document Type: 
Working Paper

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