borrowing more that too at a rate higher than offered by pension savings, their life-time utility increases. …

How should pensions be taxed? In many cases pension savings are usually taxed more leniently than other forms of … vis pensions. It is argued that the incentive structure related to pension savings and retirement can not be seen … independently from how private pensions (and savings more generally) affect public pensions via meanstesting. The effective rates of …