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 …

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 …

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 …

In this paper, we propose a novel index for measuring intra-generational redistribution in pay-as-you-go pension … schemes. Our index solely requires information on contributions and pension benefits of retirees, enabling us to measure intra … individuals, who progressed into retirement in 2007-2015, to measure the level of intra-generational redistribution in the German …

legal retirement age is increasing in longevity and (iii) decreasing in the public pension replacement rate. We then test …Within a politico-economic model we first establish three hypotheses: (i) Retirees generally prefer a higher retirement … age than workers, whereby just retired individuals prefer the highest retirement age, (ii) in equilibrium the level of the …

In the context of a two-tier pension system, with a pay-as-you-go first tier and a fully funded second tier, we … intergenerational risk sharing (the role of the second tier). This way labor supply is undistorted …

longer and birth rates have declined. Postponing the full retirement age (FRA), when retirees are entitled to full pension …, has been proposed as a solution. This effectively lowers the payroll tax rate since pension is paid only in the post …

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 …