New Models for Managing Longevity Risk Public-Private Partnerships

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.

1 - Introduction: New Models for Managing Longevity Risk: Public-Private Partnerships
2 - Perceptions of Mortality: Individual Assessments of Longevity Risk
3 - Disability-free Life Trends at Older Ages: Implications for Longevity Risk Management
4 - Does Working Longer Enhance Old Age?
5 - Working Longer Solves (Almost) Everything: The Correlation Between Employment, Social Engagement, and Longevity
6 - Aging in Place: The Role of Public-Private Partnerships
7 - Public-Private Partnerships Extend Community-based Organization's Longevity
8 - Innovative Strategies to Finance and Deliver Long-term Care
9 - Building on Hope or Tackling Fear? Policy Responses to the Growing Costs of Alzheimer's Disease and Other Dementias
10 - State-sponsored Pensions for Private Sector Workers: The Case for Pooled Annuities and Tontines
11 - New Financial Instruments for Managing Longevity Risk
12 - Property Tax Deferral: Can a Public-Private Partnership Help Provide Lifetime Income?
13 - The Market for Reverse Mortgages among Older Americans

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.