entitlements, the pension age must be automatically updated to keep the period in retirement constant. Alternatively, policy …Continuous longevity improvements and population ageing have led countries to modify national public pension schemes by … increasing the standard and early retirement ages in a discretionary, scheduled, or automatic way, and by making it harder for …

framework we study the mechanisms behind governments capturing pension assets in order to lower current taxes. This is followed …. Funding is efficient in a Kaldor-Hicks sense. Individuals vote on capturing the accumulated pension assets and replacing the … funded pension pillar with a pay-as-you-go scheme. We show that even if capturing assets reduces welfare in the long run, it …

The labor market effects of pension reform stem from retirement behavior and from job search and hours worked of prime … introducing more actuarial fairness in pension assessment. We provide some analytical results and use a computational model to … demonstrate the economic and welfare impact of recent pension reform in Austria …

We discuss public pension systems in a multi-period overlapping generations model with gerontologically founded human … white-collar and blue-collar workers and early retirement policies could be designed to provide a fair and aggregate welfare …-enhancing public pension system. Calibrating the model to Germany, we find that a pension system that equalizes relative pension …

quantitatively characterizes the optimal progressivity of unfunded pension systems in an overlapping generations model with …. Focusing on the German pension system, our model features the most recent demographic projections and distinguishes three skill … classes with skill-dependent risk profiles. Starting from a baseline path that reflects a purely earnings related pension …

Using an overlapping generations model, two new indicators of public pension system sustainability are proposed: the … pension space, which measures the capacity to pay for pension expenditures out of labour taxation, and the pension space … exhaustion probability reflecting demographic uncertainties. These measures reveal that the pension spaces of advanced economies …

Recently, mandatory pension contributions in the private sector in Iceland were increased substantially while remaining … saving behavior. Our survey evidence suggests that these findings may be explained by widespread ignorance about the pension …

, mandatory fully-funded occupational pension systems, mandatory social security financed by pay-as-you-go, and old …-fashioned hoarding in cash. Here, we call the specific mixture of the four systems the pension composition. We assume that individual … pension savings are the only sources of capital supply. When capital supply equals demand from industry there is equilibrium …

This paper develops a general equilibrium life-cycle model with endogenous retirement and disability risk, in order to … quantify the impact of recent pension reforms in Germany. At certain ages households may either apply for disability pensions … analysis focus on the increase in the normal retirement age (NRA) from age 65 to 67 (Reform 2007) and the recent increase in …