In this paper, we consider how the retirement age as well as a tax financed pension system ought to respond to a change … perfect control over the individuals' labor supply and retirement-decisions, the results show that a decrease in the standard … deviation of life-length leads to an increase in the optimal retirement age and vice versa, if the preferences for “the number …

In this paper, we consider how the hours of work and retirement age ought to respond to a change in the uncertainty of … individuals' labor supply and retirement-decisions, the results show that a decrease in the standard deviation of life …-length leads to an increase in the optimal retirement age and a decrease in the hours of work per period spent working. This result …

How can retirement savings be increased? We explore a unique policy change in the context of the German pension system … public pension payments. This reform did not change the level of pensions, but only provided information to individuals about … to study this question. As of 2005 (with a phase-in period between 2002-04), the German pension administration started to …

The specificities of the workforce with a migrant background are often neglected in studies of retirement. Similarly …, many studies of migration’s impact on pensions often focus on aggregate outcomes – system sustainability or distributive … systems – with a focus on retirement. The paper argues that such effects are non‐negligible and are likely to have major …

-114] show that the optimal replacement ratio of the pay-as-you-go public pension system in the US economy amounts to 30%. We … supply decision and 3) accounts for contributions-defined pensions of the US social security system. With these more … to the aging of the US population; however, lower productivity growth would result in higher optimal pension payments. In …

Increasing longevity causes an upward trend in the dependency ratio in many countries. This raises concerns about the … policy choice inevitably arises since a given social security system cannot be maintained by simply indexing retirement ages … longevity increases, the young generation contributes more, and the old generation faces lower benefits and a retirement age …

retirement provisions inherent in the public pension system. In this paper we discuss several notions of "fairness" of early … retirement provisions in pay-as-you-go financed public pension systems and we claim that the "right" notion of fairness depends …Declining fertility and increasing longevity have rendered public pension systems in many OECD countries unsustainable …

This paper explores the introduction of collective risk-sharing elements in defined contribution pension contracts. We … substantial welfare gains. An increase in the tax deductability of pension contributions can be beneficial for working cohorts …

. Shocks are smoothed via the public debt and variations in the indexation of pension entitlements and the pension contribution …We explore the benefits of intergenerational risk-sharing through both private funded pensions and via the public debt …. We use a multi-period overlapping generations model with a PAYG pension pillar, a funded pension pillar and a government …