pensions and on a particular type of unfunded (PAYG) pension. Surprisingly little is known about the optimal split between … state the importance of PAYG pensions differs. We estimate how the optimal level of unfunded, state pensions depends on rate …

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 … these letters on the behavior of individuals. We find an increase in tax-deductible private retirement savings and provide …

importance of unfunded, state pensions differs. We estimate how the optimal level of unfunded, state pensions depends on rate of … is rapid and unfunded pensions are currently generous. …

until 2050. To quantify the effects on pensions, taxes and social contributions, we use an overlapping generations model …

Public pay-as-you-go pensions still form the dominant pillar of old-age provision in Germany. This is in marked …

Pensions may be provided for in a modern society by a mix of several methods, namely by voluntary individual savings … workers decide on their own individual savings, that the fully-funded occupational system is decided upon by the age cohort of … pension savings are the only sources of capital supply. When capital supply equals demand from industry there is equilibrium …

supply decision and 3) accounts for contributions-defined pensions of the US social security system. With these more …

down. Depending on the relative returns from public pensions and private savings as well as on the elasticity of compliance … rate is more likely to be positive when the median income is low and when the return from public pensions dominates that of … private savings. The level of the Bismarkian pillar will now be chosen so as to account for increased political support, for …