Jorge Miguel Bravo, Associate Professor at NOVA IMS and researcher at the Information Management Research Center (MagIC), was one of the recipients of the Risks 2022 Best Paper Award, granted by the open-access journal Risks (MDPI), for the article “Automatic Indexation of the Pension Age to Life Expectancy: When Policy Design Matters.” The award was officially announced on July 12, 2023, recognizing the most outstanding contributions published in the journal in 2021.
Co-authored with Mercedes Ayuso (University of Barcelona), Robert Holzmann (Austrian Academy of Sciences and University of Vienna), and Edward Palmer (Uppsala University and the Swedish Social Insurance Inspectorate), the paper provides a rigorous evaluation of how different approaches to automatically adjusting statutory retirement ages in line with life expectancy affect the sustainability and equity of pension systems.
The study compares existing automatic indexation mechanisms in various European countries and highlights that the design of indexation rules critically shapes labor market incentives, fiscal sustainability, and intergenerational equity. The authors also propose a framework for evaluating the adequacy of these mechanisms and offer policy recommendations based on demographic and economic heterogeneity across countries.
This recognition reflects the paper’s relevance for public policy reform debates and its contribution to evidence-based pension design in response to increasing longevity and demographic ageing.
The Risks Best Paper Award is a distinction granted annually to articles that demonstrate scientific excellence, innovative contributions, and high potential impact within the field of risk analysis, insurance, and financial management. The award selection is based on nominations and rigorous review by the journal’s editorial team.
The awarded article can be accessed here.