The strong and increasing positive correlation between lifetime income and life expectancy (the longevity gap) has recently been widely studied. In this paper we employ the simplest, minimal model to demonstrate the impact of this long-neglected fact on the various types of public pension...

This purpose of this paper is to analyze pension policy in an autocracy, using contemporary Hungary as a context. The inefficiencies and unfairness of the current policy can be characterized by tensions: the intra- and intercohort polarization of benefits rises, the difference between the loose...

Studying the age-dimension of the probability distribution of pensions while assuming steadily rising real wages and time-invariant benefit-rules, two factors play important roles: (i) the weight of the wages in indexation of benefits in progress; (ii) the longevity gap. Factor (i) acts against...

As part of the Recovery and Resilience Plan (RRP, 2023), the Hungarian government pledged to reform the pension system. The main themes are sustainability and adequacy. The pension plan is to be discussed publicly and put into law by March 2025. The last detailed official pension study was the...

John von Neumann (Budapest, 1903–Washington D.C., 1957) was an exceptional polymath, who made fundamental contributions to mathematical logics, functional analysis, quantum mechanics, game theory, computer architecture and automata theory. In this brief paper, I shall review the game-theoretic...