Hedging mortality risk over the life‐cycle—The role of information and borrowing constraints

Many pension schemes offer annuities pooling mortality risk across members. Such pooling has been criticized for having a regressive bias benefitting risk classes with the longest expected longevity. However, knowledge on mortality risk unfolds over the life‐course, and it is optimal for risk averse...

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Bibliographic Details
Published in:Economic inquiry 2024-10, Vol.62 (4), p.1449-1466
Main Author: Andersen, Torben M.
Format: Article
Language:English
Subjects:
adverse selection
Allocation
Annuities
Constraints
differential mortality
Hedging
Households
Life
Life course
Life cycles
life‐cycle savings
Mortality
Risk
Welfare
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