Training and Lifetime Income

The Cost of Lost Productivity Due to Premature Chagas Disease-Related Mortality: Lessons from Colombia (2010–2017)

Tropical Medicine and Infectious Disease ◽

10.3390/tropicalmed6010017 ◽

2021 ◽

Vol 6 (1) ◽

pp. 17

Author(s):

Mario J. Olivera ◽

Francisco Palencia-Sánchez ◽

Martha Riaño-Casallas

Keyword(s):

Chagas Disease ◽

Cause Of Death ◽

Negative Impact ◽

Premature Mortality ◽

Present Value ◽

Productivity Costs ◽

Premature Deaths ◽

Lifetime Income ◽

International Statistical Classification ◽

The Republic

Background: Economic burden due to premature mortality has a negative impact not only in health systems but also in wider society. The aim of this study was to estimate the potential years of work lost (PYWL) and the productivity costs of premature mortality due to Chagas disease in Colombia from 2010 to 2017. Methods: National data on mortality (underlying cause of death) were obtained from the National Administrative Department of Statistics in Colombia between 2010 and 2017, in which Chagas disease was mentioned on the death certificate as an underlying or associated cause of death. Chagas disease as a cause of death corresponded to category B57 (Chagas disease) including all subcategories (B57.0 to B57.5), according to the Tenth Revision of the International Statistical Classification of Diseases and Related Health Problems (ICD-10). The electronic database contains the number of deaths from all causes by sex and 5-year age group. Economic data, including wages, unemployment rates, labor force participation rates and gross domestic product, were derived from the Bank of the Republic of Colombia. The human capital approach was applied to estimate both the PYWL and present value of lifetime income lost due to premature deaths. A discount rate of 3% was applied and results are presented in 2017 US dollars (USD). Results: There were 1261 deaths in the study, of which, 60% occurred in males. Premature deaths from Chagas resulted in 48,621 PYWL and a cost of USD 29 million in the present value of lifetime income forgone. Conclusion: The productivity costs of premature mortality due to Chagas disease are significant. These results provide an economic measure of the Chagas burden which can help policy makers allocate resources to continue with early detection programs.

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Social security, income inequality and growth

Journal of Pension Economics and Finance ◽

10.1017/s1474747211000229 ◽

2011 ◽

Vol 11 (1) ◽

pp. 53-70 ◽

Cited By ~ 11

Author(s):

GILLES LE GARREC

Keyword(s):

Economic Growth ◽

Income Inequality ◽

Low Income ◽

Pension System ◽

Industrial Countries ◽

Lifetime Income ◽

Actuarial Fairness ◽

Retirement Systems ◽

Pension Benefits ◽

Shed Light

AbstractIn most industrial countries, public pension systems redistribute from workers to retired people, not from high-income to low-income earners. They are close actuarial fairness. However, they are not all equivalent. In particular, some pension benefits are linked to full lifetime average earnings, while others are only linked to partial earnings history. In the latter case, we then show in this article that an actuarially fair pay-as-you-go pension system can both reduce lifetime income inequality and enhance economic growth. We also shed light on the dilemma between inequality and economic growth in retirement systems: greater progressivity results in less lifetime inequlity but also less growth.

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The Impact of the Budget on Lifetime Income: A Survey

Journal of Economic Studies ◽

10.1108/01443589010002085 ◽

1990 ◽

Vol 17 (1) ◽

Cited By ~ 1

Author(s):

P.J. Welham

Keyword(s):

Lifetime Income ◽

The Impact

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Addressing Longevity Risk: How Best to Annuitize Defined Contribution Assets?

Innovation in Aging ◽

10.1093/geroni/igaa057.2395 ◽

2020 ◽

Vol 4 (Supplement_1) ◽

pp. 686-686

Author(s):

Alicia Munnell ◽

Gal Wettstein ◽

Wenliang Hou

Keyword(s):

Social Security ◽

Longevity Risk ◽

Defined Benefit ◽

Defined Contribution ◽

Economics Of Aging ◽

Distribution Rules ◽

Lifetime Income ◽

The Social ◽

Defined Benefit Pensions ◽

Deferred Annuity

Abstract Unlike defined benefit pensions, 401(k) plans provide little guidance on how to turn accumulated assets into income. The key risk that retirees face is outliving their assets. Insurance against such risk is available through several routes, including immediate annuities, deferred annuities, and additional Social Security through delayed claiming. Under this Social Security bridge option, participants would tap their 401(k) for payments equal to their Social Security to delay claiming. This paper compares these three options in simulations against a baseline in which no assets are used to obtain lifetime income. In each option, assets not allocated to purchasing lifetime income are consumed following the Required Minimum Distribution rules. The analysis finds that, when market and health shocks are included alongside longevity uncertainty, the Social Security bridge option is generally the best for households with median wealth. Wealthier households can benefit from combining the bridge option with a deferred annuity. Part of a symposium sponsored by the Economics of Aging Interest Group.

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