consistent choices and high endowment of financial assets and additional old age provision, high subjective life expectancy, bad …. Given that policymakers aim to increase the average retirement age, the results emphasize the need for a simultaneous … increase of not only the statutory retirement age but the minimum early retirement age as well, since actuarial reduction rates …

serious long-term consequences for old-age income. Households with low income, low financial wealth or low pension literacy … lowest prevalence rate of Riester contracts and are at higher risk of old-age poverty. …

identified: more literate households are more likely to save privately for their old-age and at the same time households saving … privately for their old-age acquire financial knowledge to improve their investment decisions. Interestingly, the possession of …-subsidised forms of private old-age provision. This indicates that Riester subsidies to some extent successfully encourage individuals …

While life-cycle theory makes the clear prediction that people dissave at old-age, this prediction is not at all borne … light on the effect of the exclusion of institutionalized individuals in estimating saving rates over old-age, a conceptual … overestimation of saving rates from age 75 on if institutionalized households are not included. In the USA, the overestimation of the …