Longevity insurance benefits are deferred annuities that start payment at an advanced age at which a substantial proportion of the birth cohort has died. In high-income countries, that would mean that these annuities would start for people in their early 80s, but when social security programs...

The purpose of the article is to present a proposal for supplementing the existing pillar of voluntary pension insurance so that it becomes an important contribution to increasing future retirement benefits. The article presents recommendations by OECD experts on how to construct a voluntary...