Dear All,
I would like to update everyone on the work I have carried out so far with regard to the project. So far I did the following analysis.
1, Analysis of the Life Expectancy by Gender and at different ages such as ( life exp. at birth, life exp. @ 30, life exp @ 60 and life exp @ 65.) The results showed me that there is a significant difference in life expectancy at older age by gender. More detailed report will accompany the analysis.
2, The second part of the analysis is to calculate the saving amount gained from increasing retirement age. I have historical data from 2000 to 2011 on the # of OASI and I made the projection by fitting a trend line and I found out the change from each year for the coming 30 years. In this case what I did is that I found the changes from each year and multiplied by the average annual benefit * 30 year trearsury bond rate approx (3%). This will be annual saving if we increase ret. age by 1year. Like wise for 2yrs and 3years. Then I found the total saving over 5 years range starting from 2012 projected to 2046. I hope this would make sense.
Thanks,
Kidane
I would like to update everyone on the work I have carried out so far with regard to the project. So far I did the following analysis.
1, Analysis of the Life Expectancy by Gender and at different ages such as ( life exp. at birth, life exp. @ 30, life exp @ 60 and life exp @ 65.) The results showed me that there is a significant difference in life expectancy at older age by gender. More detailed report will accompany the analysis.
2, The second part of the analysis is to calculate the saving amount gained from increasing retirement age. I have historical data from 2000 to 2011 on the # of OASI and I made the projection by fitting a trend line and I found out the change from each year for the coming 30 years. In this case what I did is that I found the changes from each year and multiplied by the average annual benefit * 30 year trearsury bond rate approx (3%). This will be annual saving if we increase ret. age by 1year. Like wise for 2yrs and 3years. Then I found the total saving over 5 years range starting from 2012 projected to 2046. I hope this would make sense.
Thanks,
Kidane
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