Seminar: Health state dependence in Europe; estimates and implications for health expenditures and pension payout schemes

Time: 13.00-14.00 hours
Location: CPB-office, Van Stolkweg 14, The Hague

Presentation: Marike Knoef (Universiteit Leiden)

Discussant: Bram Wouterse (CPB)

Language: English

Registration: Please register by sending an email to seminars@cpb.nl.

Abstract subject:
With the pension system under pressure it is important to gain better understanding on the financial needs of elderly. In this paper we analyze the impact of age and health on financial needs. For this purpose we use a measure of financial satisfaction in the Survey of Health, Aging and Retirement in Europe (SHARE). We find that health has a negative impact on financial satisfaction. Furthermore, in countries where the responsibility for the provision of long term health care is split by the government and the family, this effect turns out to be bigger for individuals with higher incomes. Whereas health deterioration seems to increase financial needs, age decreases those needs. These results are of interest for the design of pension payout schemes.

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