Life care annuities (LCA) embedded in a notional defined contribution (NDC) framework

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      <subfield code="a">Pla-Porcel, Javier</subfield>
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      <subfield code="a">Life care annuities (LCA) embedded in a notional defined contribution (NDC) framework</subfield>
      <subfield code="c">Javier Pla-Porcel, Manuel Ventura-Marco, Carlos Vidal-Meliá</subfield>
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      <subfield code="a">This paper examines the possibility of embedding public long-term care (LTC) insurance within the retirement pension system, i.e. introducing life care annuities into a notional defined contribution framework. To do this, it is develops a multistate overlapping generations model that includes the so-called survivor dividend and give special attention to the assumptions made about mortality rates for dependent persons and LTC incidence rates, which largely determine the contribution rate assigned to LTC. The proposed model could be of interest to policymakers because it could be implemented without too much difficulty, it would universalize LTC coverage with a fixed cost, and it would discourage politicians from making promises about future LTC benefits without the necessary funding support</subfield>
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      <subfield code="a">Ventura Marco, Manuel</subfield>
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      <subfield code="a">Vidal Meliá, Carlos</subfield>
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      <subfield code="d">Belgium : ASTIN and AFIR Sections of the International Actuarial Association</subfield>
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      <subfield code="g">02/05/2016 Volumen 46 Número 2 - mayo 2016 , p. 331-363</subfield>
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