Pensions may be provided for in a modern society by a mix of several methods, namely by voluntary individual savings … pension savings are the only sources of capital supply. When capital supply equals demand from industry there is equilibrium …, mandatory fully-funded occupational pension systems, mandatory social security financed by pay-as-you-go, and old …

spending that typically shall be accompanied with a lower pension savings rate and a higher retirement age. Medical progress … approach enables us to investigate the interaction between health and retirement policy in order to quantitatively characterize … implications for health inequality. Calibrating our model to Germany, we find that currently the public health and pension system …

quantify the impact of recent pension reforms in Germany. At certain ages households may either apply for disability pensions …This paper develops a general equilibrium life-cycle model with endogenous retirement and disability risk, in order to … (DP) or old-age pensions (OAP), de-pending on eligibility rules and the generosity of the two programs. Our policy …

until 2050. To quantify the effects on pensions, taxes and social contributions, we use an overlapping generations model … with five margins of labor supply: labor market participation, hours worked, job search, retirement, and on … retirement age to 68 years, may limit the tax increases to 4 percentage points of value added tax and reduce the decline of per …

Prefunding of pension commitments in OECD economies is increasingly seen as a central strategy to cope with the aging … challenging requirements. For pension policy, the limited contribution of pre-funding at home and abroad in order to address the …

A key figure which can be applied to measuring inter-generational imbalances involved in existing public pension … systems. The implicit tax arises from the fact that, quite generally, pension benefits received fall short of actuarial …-scale demographic ageing, public pension schemes are continued to be run based on current rules, implicit tax rates will sharply …

equilibrium with positive social security contribution rates and early retirement. Aging has two opposite effects: it leads to …We provide a long-term perspective on the individual retirement behaviour and on the future of retirement. In a … the existence of crucial income effects: a decrease of the income of young people will induce them to postpone retirement …

This paper investigates the inter-temporal structure of implicit taxes that arise in unfunded pension schemes. We …

provides a refinement to common policy recommendations that favor eliminating mandatory early retirement regulations in aging … societies: aging leads to a greater increase in welfare when it is driven by an increasing longevity and the retirement age is … unregulated. In comparison, when aging is driven by a decreasing fertility rate, a mandatory retirement system fosters more …