This paper analyses the impact of health, pension systems and longevity on savings. It uses a simple life-cycle model … embodying social transfers (health care and pension expenditures) and changes in longevity to determine the level of household … savings. In line with life-cycle theory, we found that longevity increases saving ratios. …

ageing-consumption, an ageing-saving, a saving-capitalisation and a saving-longevity puzzles have been put forward in the … welfare systems have a significant negative impact on household saving rate. It can also explain why the increase in longevity …

This paper analyses the impact of welfare systems and longevity on savings. It develops a life-cycle model embodying … social transfers (health care and pension expenditures) and changes in longevity to determine the level of household savings …

. However, uncertainty about future longevity gains and fertility rates account for a large range of results for dependency … ratio of increases in longevity in line with past trends (i.e., around two years every decade). …