If there is a means tested basic income for old age, households will tend to reduce precautionary savings to an … income types where compulsory savings are found to be Pareto improving only up to a point. Increases in contribution rates … via the means tested basic income. Using these results in a pay-as-you-go framework, we show that an unfunded pensions …

supply. The optimum share of fertility-related pensions is always below unity, but generally positive. The former is true … demonstrated that child allowances are equivalent to fertility-related pensions as instruments to achieve an efficient allocation. …

endogenous labor supply setting, both instruments are shown to be equivalent if general pensions are of the Bismarckian … contribution-related type. In contrast, if general pensions are of the Beveridgean flat-rate type, making pensions contingent on …

approaches are related to each other by the general idea that unfunded pensions create an implicit public debt, and we discuss … entailed in public pensions as a further concept for measuring the inter-generational distribution of burdens arising in ageing …