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How much do means-tested benefits reduce the demand for annuities?
Bütler, Monika; Peijnenburg, Kim; Staubli, Stefan - 2011
the annuity. Agents trade-off the advantages from annuitization, receiving the wealthenhancing mortality credit, to the … occupational pension wealth observed in Switzerland. -- means-tested benefit ; occupational pension ; annuity ; life-cycle model …
Persistent link: https://www.econbiz.de/10009153835
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One pillar crumbling, the others too short : old-age provision in Germany
Werding, Martin - 2016
Public pay-as-you-go pensions still form the dominant pillar of old-age provision in Germany. This is in marked contrast to the situation in Anglo-Saxon countries. It has advantages if labour markets are strong, e.g., following a quick recovery from the Great Recession. It has disadvantages, as...
Persistent link: https://www.econbiz.de/10011429583
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The effect of firms' partial retirement policies on the labour market outcomes of their employees
Huber, Martin; Lechner, Michael; Wunsch, Conny - 2013 - This version: July 2013
In this paper, we assess the impact of firms introducing part-time work schemes for gradual labour market exit of elderly workers on their employees' labour market outcomes. The analysis is based on unique linked employer-employee data that combine high-quality survey and administrative data....
Persistent link: https://www.econbiz.de/10009772831
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Mandatory participation in occupational pension schemes in the Netherlands and other countries
Chen, Damiaan H. J.; Beetsma, Roel - 2014
This paper discusses mandatory participation in Dutch occupational pension schemes. While mandatory participation is a historical feature of most second-pillar pension arrangements, some recent developments may affect the case for mandatory participation. The main ones are the revision of the...
Persistent link: https://www.econbiz.de/10010234527
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The role of the annuity's value on the decision (not) to annuitize : evidence from a large policy change
Bütler, Monika (contributor); Staubli, Stefan (contributor) - 2008
This paper presents new evidence on how the annuitization decision is affected by changes in the annuity's value. We … pension scheme: The 20 percent reduction in the rate at which retirement capital is translated into a life-long annuity … of the cash-out decision to variations in a utility based measure for the annuity value is comparable to results of …
Persistent link: https://www.econbiz.de/10003749467
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Why mandate young borrowers to contribute to their retirement accounts?
Andersen, Torben M.; Bhattacharya, Joydeep - 2017
Many countries, in an effort to address the problem that too many retirees have too little saved up, impose mandatory contributions into retirement accounts, that too, in an age-independent manner. This is puzzling because such funded pension schemes effectively mandate the young, who wish to...
Persistent link: https://www.econbiz.de/10011688004
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Aging, taxes and pensions in Switzerland
Keuschnigg, Christian - 2016
The gains in life expectancy are expected to double the dependency ratio and increase population by 10% in Switzerland 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...
Persistent link: https://www.econbiz.de/10011416024
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Longevity shocks with age-dependent productivity growth
Heijdra, Ben J.; Reijnders, Laurie S. M. - 2015
The aim of this paper is to study the long-run effects of a longevity increase on individual decisions about education and retirement, taking macroeconomic repercussions through endogenous factor prices and the pension system into account. We build a model of a closed economy inhabited by...
Persistent link: https://www.econbiz.de/10010528342
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Evidence on individual preferences for longevity risk
Delprat, Gae͏̈tan; Leroux, Marie-Louise; Michaud, … - 2013
The standard model of intertemporal choice assumes risk neutrality toward the length of life: due to additivity, agents are not sensitive to a mean preserving spread in the length of life. Using a survey fielded in the RAND American Life Panel (ALP), this paper provides empirical evidence on...
Persistent link: https://www.econbiz.de/10009730526
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How sustainable are old-age pensions in a shrinking population with endogenous labour supply?
Cardoso, Pedro; Praag, Bernard M. S. van - 2003
In this paper we model an OLG-economy where labour supply is endogenously determined and where we assume that there are two pension systems, namely, a pay-as-you-go system and a funded system. The main question is whether there is an equilibrium involving an old-age pensions system, partly...
Persistent link: https://www.econbiz.de/10011514183