Pension:Merriam

1
PensionMerriam Webster

• Date 14th century
• 1\'pen(t)-sh?n\ a fixed sum paid regularly to a
  person a archaic wage
• b a gratuity granted (as by a government) as a
  favor or reward
• c one paid under given conditions to a person
  following retirement from service or to surviving
  dependents

2
SURVIVRS- Men in Israel86 will reach the age of
65. Life expectancy in birth 81.8 years 2004-8
Ratio 1989-1993 2004-2008 Age
1.968 11.73 5.96 65-69
1.454 15.54 10.69 70-74
1.314 19.98 15.21 75-79
1.113 21.4 19.23 80-84
0.647 31.34 48.41 85
  100 100
3
Survivors Israeli Women92 will reach the
age of 65.life expectancy at birth (2004-8) 20.3
years
Ratio 1989-1993 2004-8 Age
2.067 4.65 2.25 60-64
1.658 7.18 4.33 65-69
1.604 11.84 7.38 70-74
1.514 16.52 10.91 75-79
1.239 20.79 16.78 80-84
0.669 39.01 58.34 85
100 100
4

• Changes in mortality fulfill
• Monotone Likelihood Ratio (MLR),presented
• by Landsberger and Meilijson, JET, 1990.
• Let x measure age at death. The function g(x)
  describes mortality risk in period 1989 -1993,
  and f(x) mortality risk in 2004-2008. MLR
  requires that the ratio g(x)/f(x) is
  non-increasing with x.

5
Factors explaining the pension level. average
pension 1300 USA
Coefficient T test
(Constant) 3461.193 7.653
Education 274.346 11.800
gendermale1 -1385.452 -5.926
Immigrationgt 1990 -2144.919 -4.208

• N885
• R square0.18

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Inequality in Life expectancy

• Following 7986 retired women and 7329 retired
  men for 5 years we got

men women
15.56 22.22 High pension
14.67 20.87 Low pension