Pensions may be provided for in a modern society by a mix of several methods, namely by voluntary individual savings … hundred age brackets and we investigate how changes in the birth rates, survival rates, and the retirement age affect the …

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 …

scheme ("second pillar") that will provide increasing amounts of supplementary pensions to those entering retirement in the … reforming the system, highlighting their potential impact on pension finances, public budgets, and retirement incomes. …

are strikingly different. Most nations have little scope to further finance pensions out of labour income taxation over …

We find that segments of society who have shorter life expectancy can expect a lower retirement income and lifetime … utility due to the longevity of other groups participating in the same pension scheme. Linking retirement age to average life …

retirement age by 0.5 to 3 years. We conclude that if policy contains the generosity of public pensions, increasing the legal …Within a politico-economic model we first establish three hypotheses: (i) Retirees generally prefer a higher retirement … age than workers, whereby just retired individuals prefer the highest retirement age, (ii) in equilibrium the level of the …

equilibrium involving an old-age pensions system, partly financed by PAYG and partly by a capital reserve system, and what will be …

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 …

rules, such as a link between life expectancy and pensions or retirement age, the tax regime shift can be used to improve …