Design & Copyright Jan Karman Last revised: November 2019
Retiring together? Challenges for dual earners
The proportion of dual earners among adults aged 60 years and over is increasing. In the Netherlands, we find that many older dual earners would like to retire at the same time, but are put off by the financial consequences.
Due to the gradual increase of the public pension age, younger partners will have to continue working long after the older partner has retired.
Source: Demos/Nederlands Interuniversitair Demografisch Instituut
Mortality tables are usually graduated for either practical or scientific purposes. The formulae, in which the mortality is expressed as a function of x (= age) are often of the type (Makeham's law):
mx = A + B.cx (force of mortality)
with A, B and c as parameters. Finding the values of those parameters from the crude material is the hard part.
King-Hardy's method is a suitable way to transform this power function into a linear equation system; it is solved here by way of a least square K-runtime function.
See also E.Zwinggi - Versicherungsmathematik
When invoked, one will find four controls in the bottom part. The first two controls act like a spinbox, the two right most controls simulate the Windows-locator. The challenge is to find as large as possible ranges for making the "law" valid.
Later, famous methods came from Th.N. Thiele, published posthumously in 1910, and recent approaches and remarks can be found in W.J. Willemse
Recommended for Africa: G.M.K. Kpedekpo - Essentials of Demographic Analysis for Africa
Jan Karman LinkedIn Middelburg (Neth), November 2006