Long Life Markers and the Coming Revolution in Social Security

Both the Wall Street Journal and The Independent report about a recent research by Boston University scientists that say they have discovered a genetic signature of longevity. They expect soon to offer a test that could let people learn whether they have the constitution to live to a very old age.

Greg Mankiw wonders today how this is going to change the life insurance industry, beating me to the post while I was pondering the consequences for pay-as-you go social security systems. They are obviously going to be confronted with a similar problem. Will individuals with the « long life DNA markers » be required to pay more during their working life or work longer than others with shorter life expectations?

In any case the universal « one size fits all », Bismarckian formula, will probably give way to some more individually tailored contracts.