New Models for Managing Longevity Risk

Public-Private Partnerships

Edited by Olivia S. Mitchell

Pension Research Council Series

Explores how public-private partnerships can provide needed goods and services and accomplish goals that neither sector could likely achieve on its own
Brings together cutting-edge research from leading scholars
Presents country-specific examples and real-world evidence
Builds on previous Pension Research Council publications to allow readers to explore related topics in depth
An open access title available under the terms of a CC BY-NC-ND 4.0 licence

New Models for Managing Longevity Risk

Public-Private Partnerships

Edited by Olivia S. Mitchell

Pension Research Council Series

Description

This is an open access title available under the terms of a CC BY-NC-ND 4.0 International licence. It is free to read at Oxford Scholarship Online and offered as a free PDF download from OUP and selected open access locations.

Notwithstanding the terrible price the world has paid in the coronavirus pandemic, the fact remains that longevity at older ages is likely to continue to rise in the medium and longer term. This volume explores how the private and public sectors can collaborate via public-private partnerships (PPPs) to develop new mechanisms to reduce older people's risk of outliving their assets in later life. As this volume shows, PPPs typically involve shared government financing alongside private sector partner expertise, management responsibility, and accountability. In addition to offering empirical evidence on examples where this is working well, contributors provide case studies, discuss survey results, and examine a variety of different financial and insurance products to better meet the needs of the aging population. This volume will be informative to researchers, plan sponsors, students, and policymakers seeking to enhance retirement plan offerings.

New Models for Managing Longevity Risk

Public-Private Partnerships

Edited by Olivia S. Mitchell

Pension Research Council Series

1. Introduction: New Models for Managing Longevity Risk: Public-Private Partnerships, Olivia S. Mitchell
I. Understanding Longevity Risk
2. Perceptions of Mortality: Individual Assessments of Longevity Risk, Kathleen McGarry
3. Disability-free Life Trends at Older Ages: Implications for Longevity Risk Management, Douglas A. Wolf
4. Does Working Longer Enhance Old Age?, Maria D. Fitzpatrick
5. Working Longer Solves (Almost) Everything: The Correlation Between Employment, Social Engagement, and Longevity, Tim Driver and Amanda Henshon
II. Public-Private Partnerships to Help Fill the Gaps
6. Aging in Place: The Role of Public-Private Partnerships, Nancy A. Hodgson
7. Public-Private Partnerships Extend Community-based Organization's Longevity, Dozene Guishard and William J. Dionne
8. Innovative Strategies to Finance and Deliver Long-term Care, Nora Super, Arielle Burstein, Jason Davis, and Caroline Servat
9. Building on Hope or Tackling Fear? Policy Responses to the Growing Costs of Alzheimer's Disease and Other Dementias, Adelina Comas-Herrera
III. Implications for the Financial Sector and Policymakers
10. State-sponsored Pensions for Private Sector Workers: The Case for Pooled Annuities and Tontines, Richard K. Fullmer and Jonathan Barry Forman
11. New Financial Instruments for Managing Longevity Risk, John Kiff
12. Property Tax Deferral: Can a Public-Private Partnership Help Provide Lifetime Income?, Alicia H. Munnell, Wenliang Hou, and Abigail Walters
13. The Market for Reverse Mortgages among Older Americans, Christopher Mayer and Stephanie Moulton

New Models for Managing Longevity Risk

Public-Private Partnerships

Edited by Olivia S. Mitchell

Pension Research Council Series

Author Information

Olivia S. Mitchell, International Foundation of Employee Benefit Plans Professor, Wharton School of the University of Pennsylvania

Olivia S. Mitchell is the International Foundation of Employee Benefit Plans Professor, Professor of Insurance and Risk Management and Business Economics and Policy, Executive Director of the Pension Research Council, and Director of the Boettner Center on Pensions and Retirement Research, all at The Wharton School of the University of Pennsylvania. She also serves as a Research Associate at the NBER, Independent Director on the Wells Fargo Fund Boards, Co-Investigator for the Health and Retirement Study at the University of Michigan, Executive Board Member for the Michigan Retirement Research Center, and Senior Scholar at the Singapore Management University. Her main interests are public and private pensions, insurance and risk management, financial literacy, and social insurance.

Contributors:

Arielle Burstein, CareMore
Adelina Comas-Herrera, London School of Economics and Political Science
Jason Davis, Milken Institute
William J. Dionne, Carter Burden Network
Tim Driver, Age Friendly Ventures
Maria D. Fitzpatrick, Cornell
Jonathan Barry Forman, University of Oklahoma
Richard K. Fullmer, Nuova Longevità Research
Dozene Guishard, Carter Burden Network
Amanda Henshon, The Age Friendly Foundation
Nancy A. Hodgson, University of Pennsylvania
Wenliang Hou, Boston College
John Kiff, International Monetary Fund
Christopher Mayer, Columbia Business School
Kathleen McGarry, UCLA
Stephanie Moulton, Ohio State University
Alicia H. Munnell, Boston College
Caroline Servat, Milken Institute
Nora Super, Milken Institute
Abigail N. Walters, Boston College
Douglas A. Wolf, Syracuse University