In September 2020, the specialist gave an interview to Robert Powell, in which she commented on the effects of aging on the social security system, employee pension plans and individual retirement savings. Some notable topics in the interview were:

• The greatest need in the US today is to reform the social security system (pay-as-you-go system), since it is the first pillar of support for current retirees. Due to Covid-19, the reserve fund of this system would be exhausted three years earlier than planned, in 2029, if no reform is carried out. According to the economist, if this insolvency problem is not fixed, profits could be reduced by up to 25%. The system requires a combination of reforms: (i) cuts in benefits, (ii) increases in the contribution rate, and iii) gradual increase in the retirement age.

• Mitchell considers herself a fan of the Chilean individually funded system, but unfortunately due to the pension fund withdrawals that were allowed, the retirement security has been severely damaged. According to the economist, there are better ways to relieve financial stress caused by a pandemic than to give early access to pension funds.

• The question about whether Covid-19 will have a material effect on mortality is still seeking an answer. Professor Moshe Milevsky has indicated that with the pandemic there has been a 10-year increase in mortality from 65 years of age (that is, for someone currently 65 years of age, with the new mortality it is as if they were 75 years old ). However, with treatments and vaccination, it seems unlikely that Covid-19 will decrease longevity in the long term, at least not in developed countries.

To review the full interview, click here