We investigate the development of public pensions in Germany and how its significance will change when the multi-pillar systems matures due to population aging. The message of our analysis is complex. Even after the pension reforms which took place between 2001 and 2007 public pensions will...

In spring 2007 the German government increased the statutory retirement age from 65 to 67. We simulate the long-term impact of this measure on the budget of the German public pension system. In contrast to previous simulations our results are based on a model that explicitly accounts for...

Deutschland verfügt über eines der großzügigsten Rentensysteme der Welt. Gleichzeitig ist Deutschland mit einem der weltweit drastischsten Bevölkerungsalterungsprozesse konfrontiert. Das Verhältnis von Erwerbstätigen zu Rentnern wird innerhalb der nächsten Generation auf etwa 1:1...

This template provides the prototype for a set of papers from Belgium, France, Germany, Italy, Japan, the Netherlands, UK and US, each describing and explaining household saving. All papers will have the same format. The template uses Germany as an example. The analysis is based on four unlinked...

Pay-as-you go pension systems are an insurance against the risks of longevity-related old-age poverty and related risks. In addition, they are commonly also used as an instrument of redistribution. This paper provides alternative estimates of the transfer share in the German PAYG public pension...

In the discussion of a pension reform, an important issue is the difference of the return between a PAYG and a funded system. It is not as straightforward as often suggested, because problems like risk, insurance, and the transition to a reformed system have to be considered. This paper...

Negative Anreizeffekte plagen alle Bereiche der Sozialpolitik. Diese negativen Anreizeffekte beziehen sich auf eine Zurücknahme des Arbeitsangebotes, eine Flucht aus der sozialversicherungspflichtigen Beschäftigung oder der Reduzierung von Ersparnissen. Diese negativen Anreizeffekte werden in...

The German public retirement insurance is one of the most generous and universal pension systems in the world. At the same time, the system is under severe strain due to very strong population aging and shrinking system participation. Labor force participation of the elderly is therefore an...

Three issues dominate the political debate over savings in Europe: First, can private savings substitute for public pensions in the provision of retirement income, given that the current generosity of pay-as-you-go financed pensions is hardly sustainable in the light of population ageing? And if...