individuals face ex ante differences in mortality. Differences in life expectancy between high and low socioeconomic groups are … plans, calibrated on the US case. Compared to a benchmark non-redistributive plan that accounts for differences in mortality …

Building on the existing literature that examines the extent of redistribution in the Social Security system as a whole … virtually no effect on overall inequality. Second, we find that this result is driven largely by the lack of redistribution … bottom of the lifetime income distribution. Third, in cases where redistribution does occur, we find it is not efficiently …