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Do retirement savings increase in response to information about retirement and expected pensions?
Dolls, Mathias; Doerrenberg, Philipp; Peichl, Andreas; … - 2018
How can retirement savings be increased? We explore a unique policy change in the context of the German pension system … these letters on the behavior of individuals. We find an increase in tax-deductible private retirement savings and provide … evidence that this is not due to a crowding-out of other forms of savings. We also show that labor earnings, i.e. the most …
Persistent link: https://www.econbiz.de/10011782119
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Demography and provisions for retirement : the pension composition, a behavioral approach
Praag, Bernard M. S. van; Hop, J. Peter - 2020
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 …
Persistent link: https://www.econbiz.de/10012154725
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Funded and unfunded pension schemes : risk, return and welfare
Miles, David - 2000
This paper uses stochastic simulations on calibrated models to assess the optimal degree of reliance on fun ded pensions and on a particular type of unfunded (PAYG) pension. Surprisingly little is known about the optimal split between funded and unfunded systems when there are sources of...
Persistent link: https://www.econbiz.de/10009781509
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Forced saving, redistribution and nonlinear social security schemes
Cremer, Helmuth; De Donder, Philippe; Maldonado, Darío; … - 2008
selfʺ emerges when labor supply and savings decisions are made. The social welfare function is paternalistic: the rate of … show that the paternalistic solution does not necessarily imply forced savings for the myopics. This is because …
Persistent link: https://www.econbiz.de/10003720340
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Risk, return and portfolio allocation under alternative pension arrangements with imperfect financial markets
Miles, David; Černý, Aleš - 2001
This paper uses stochastic simulations on calibrated models to assess the steady state impact of different pension arrangements in an environment where financial markets are less than perfect. Surprisingly little is known about the optimal split between funded and unfunded systems when there are...
Persistent link: https://www.econbiz.de/10011398101
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Old-age provision in transition : the case of Croatia
Werding, Martin; Primorac, Marko - 2016
The Croatian system of old-age provision comprises a traditional public pay-as-you-go scheme and a mandatory funded scheme ("second pillar") that will provide increasing amounts of supplementary pensions to those entering retirement in the future. Due to the continuing economic crisis, the...
Persistent link: https://www.econbiz.de/10011429587
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Intergenerational risk-sharing through funded pensions and public debt
Chen, Damiaan H. J.; Beetsma, Roel; Ponds, Eduard; … - 2014
We explore the benefits of intergenerational risk-sharing through both private funded pensions and via the public debt. We use a multi-period overlapping generations model with a PAYG pension pillar, a funded pension pillar and a government. Shocks are smoothed via the public debt and variations...
Persistent link: https://www.econbiz.de/10010238325
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Can investments in emerging markets help to solve the aging problem?
Holzmann, Robert - 2000
Prefunding of pension commitments in OECD economies is increasingly seen as a central strategy to cope with the aging of their populations. This paper argues that investments in emerging markets can help at the margin but are unable to solve the demographic problem. While these investments bring...
Persistent link: https://www.econbiz.de/10009781581
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Why mandate young borrowers to contribute to their retirement accounts?
Andersen, Torben M.; Bhattacharya, Joydeep - 2017
borrowing more that too at a rate higher than offered by pension savings, their life-time utility increases. …
Persistent link: https://www.econbiz.de/10011688004
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The political (in)stability of funded pension Systems
Beetsma, Roel; Komada, Oliwia; Makarski, Krzysztof; … - 2020
We analyze the political stability of capital funded social security. In particular, using a stylized theoretical framework we study the mechanisms behind governments capturing pension assets in order to lower current taxes. This is followed by an analysis of the analogous mechanisms in a...
Persistent link: https://www.econbiz.de/10012194597