Public Thesis defense - LIDAM

Essay  on the fairness of public pension systems by Keivan DIAKITE

Pour l’obtention du grade académique de Doctorat en sciences

Pension system reform is a complex and challenging task, requiring a holistic approach that addresses the key conditions of financial sustainability, social adequacy and transparency. This thesis proposes a comprehensive framework for pay-as-you-go pension system reform that considers these essential conditions, as well as demographic changes and socio-economic disparities.

Specifically, the thesis proposes an application of a system for Morocco that is based on retirement points and guided by the Musgrave rule, which considers individuals' ability to pay. This system aims to improve both financial sustainability and inter-generational equity.

The thesis also introduces progressive pension formulas to mitigate actuarial disparities, providing higher benefits to individuals with lower lifetime incomes and potentially shorter life expectancies.

To ensure financial sustainability, the thesis proposes automatic adjustment mechanisms that are integrated into the pension formula and steering mechanisms that are in accordance with the Musgrave rule. These mechanisms ensure a balanced distribution of demographic risk between working individuals and retirees, contributing to the overall stability of the pension system.

Finally, the thesis synthesizes these concepts by incorporating double Automatic Adjustment Mechanisms and stochastic multi-population mortality modeling. This approach provides a more nuanced and equitable understanding of pension system design in the face of demographic changes and socio-economic disparities. It underscores the importance of addressing socio-economic differences in longevity.

By integrating double Automatic Adjustment Mechanisms and multi-population mortality modeling, this research contributes to equitable and sustainable pension system design, which is essential in navigating demographic changes and socio-economic differences tied to longevity.

In summary, this thesis provides a comprehensive and innovative approach to pension system reform that addresses the key challenges of financial sustainability, social adequacy, transparency, demographic changes and longevity inequality.

Jury members : 

• Prof. Pierre Devolder (UCLouvain), supervisor
• Prof. Michel Denuit (UCLouvain), chairperson
• Prof. Jean Hindriks (UCLouvain), secretary
• Prof. Massimiliano Menzietti (Università degli studi di Salerno, Italy)
• Prof. Jennifer Alonso-Garcia (ULB)

Pay attention :

The public defense of Keivan Diakite scheduled for Thursday 07 December at 03:00 p.m will also take place in the form of a video conference

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