How can public pension systems be reformed to ensure fiscal stability in the face of increasing life expectancy? To …, retirement and consumption decisions of forward-looking individuals depend, inter alia, on life expectancy and the design of the … public pension system. We calculate that, in the case of Germany, the fiscal consequences of the 6.4 year increase in age 65 …

threefold increase in the legal minimum pension on labor supply and retirement behaviour at older ages. Applying difference …The retirement decision is under researched in developing and emerging countries, despite the topic's close relation to … income effect that caused additional retirement of 30 to 47 percent. Additional evidence suggests that retirement incentives …

into account the social dimension, which includes adjusting the current arrangements of pension systems. In the best … scenario this could mean a pension reform. The term 'pension reform' can be understood in various ways. In this paper we … analyse a wide variety of possible pension system designs. The designs vary by target as well as the various ways to reach …

We analyze the impact of changing employment patterns and pension reforms on the future level of public pensions across …-Economic Panel Study (SOEP) and process-produced microdata from the German pension insurance. A microsimulation model is developed … differential impact of recent pension reforms. Cohort effects for individuals born between 1937 and 1971 vary greatly by region …

Micro-econometric intra-cohort profitability analyses of pay-as-you-go (PAYG) pension contributions are rare. We use … representative employment histories of a birth cohort of German PAYG pension insurants retiring in year 2005 to econometrically … profitability measure. When future nominal pension entitlements are frozen at today's level, average IRR is slightly above three …

deductions for early retirement. This paper examines the evolution of the profitability of pension contributions against the …To counteract the financial pressure emerging in aging societies, statutory pay-as-you-go pension schemes are … undergoing fundamental reforms in many Western countries. Starting with cohort 1937, Germany introduced permanent pension …

In several OECD countries, public pay-as-you-go financed pension systems have undergone major reforms in which future … retirement benefit promises have been scaled down. A consequence of these reforms is that especially in countries with a tight … tax-benefit linkage, the retirement benefit claims of low-income workers might not even exceed the minimum income …

Pension Insurance from 1957 to 2005, revenues as well as expenditures are analysed in linear regression models, respectively … important, pension expenditures increased in election years. Interestingly, the CDU/FDP governments provided higher subsidies to …

This paper proposes a dynamic life cycle model of health risks, employment, early retirement, and wealth accumulation … pension benefits as an insurance against old age poverty. While such a reform raises a concern about an increase in abuse of … the early retirement option, the simulations indicate that a means test mitigates the moral hazard problem substantially. …