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Demography and provisions for retirement : the pension composition, a behavioral approach
Praag, Bernard M. S. van; Hop, J. Peter - 2020
hundred age brackets and we investigate how changes in the birth rates, survival rates, and the retirement age affect the … for the present century, where birth and mortality rates in most western countries are steeply declining. …
Persistent link: https://www.econbiz.de/10012154725
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On the political feasibility of increasing the legal retirement age
Bittschi, Benjamin; Wigger, Berthold U. - 2019
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 … legal retirement age is increasing in longevity and (iii) decreasing in the public pension replacement rate. We then test …
Persistent link: https://www.econbiz.de/10011966874
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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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Forward-looking labor supply responses to changes in pension wealth : evidence from Germany
Artmann, Elisabeth; Fuchs-Schündeln, Nicola; Giupponi, … - 2023
We provide new evidence of forward-looking labor supply responses to changes in pension wealth. We exploit a 2014 German reform that increased pension wealth for mothers by an average of 4.4% per child born before January 1, 1992. Using administrative data on the universe of working histories,...
Persistent link: https://www.econbiz.de/10014280148
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Optimal retirement with disability pensions
Fehr, Hans; Fröhlich, Adrian W. - 2022
This paper develops a general equilibrium life-cycle model with endogenous retirement and disability risk, in order to … analysis focus on the increase in the normal retirement age (NRA) from age 65 to 67 (Reform 2007) and the recent increase in … early retirement benefits in the future. …
Persistent link: https://www.econbiz.de/10013473681
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Longevity, retirement and intra-generational equity
Hougaard Jensen, Svend Erik; Thorsteinn Sigurdur Sveinsson - 2019
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 …
Persistent link: https://www.econbiz.de/10012029124
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Uncertain length of life, retirement age, and optimal pension design
Aronsson, Thomas; Blomquist, Nils Sören - 2018
In this paper, we consider how the hours of work and retirement age ought to respond to a change in the uncertainty of … individuals' labor supply and retirement-decisions, the results show that a decrease in the standard deviation of life …-length leads to an increase in the optimal retirement age and a decrease in the hours of work per period spent working. This result …
Persistent link: https://www.econbiz.de/10011809912
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Aging, taxes and pensions in Switzerland
Keuschnigg, Christian - 2016
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 …
Persistent link: https://www.econbiz.de/10011416024
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Pension funding and individual accounts in economies with life-cyclers and myopes
Fehr, Hans; Kindermann, Fabian - 2009
The present paper studies the growth and efficiency consequences of pension funding with individual retirement accounts … retirement plans. Three major findings are derived in our study: First, we quantify the commitment effect of social security for … gains are only attainable if accounts are voluntary and not mandatory. -- individual retirement accounts ; annuities …
Persistent link: https://www.econbiz.de/10003871957
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Optimal pensions in aging economies
Heer, Burkhard - 2015
Ýmrohoroðlu, Ýmrohoroðlu and Joines [1995, A life-cycle analysis of Social Security, Economic Theory, vol. 6, 83-114] show that the optimal replacement ratio of the payas-you-go public pension system in the US economy amounts to 30%. We extend their analysis to a model that 1) replicates the...
Persistent link: https://www.econbiz.de/10010477151