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 …

scheme that transfers individual consumption from the working years to the retirement phase of the lifecycle. It discusses … basic building block of individual accounts. This ensures the important design feature of transparency, the "enabler" of … postpone retirement marginally toward the end of the working life. The chapter examines additional criteria (fairness …

contribution scheme. In particular we examine the relationship between retirement, fertility and pensions in a three …-period overlapping generations model. We focus on both the case of mandatory retirement and the case where the retirement age is freely … chosen. In the case of mandatory retirement, increasing longevity has an unambiguously negative impact on fertility and …

This paper studies retirement and child support policies in a small, open, overlapping-generations economy with PAYG … social security and endogenous retirement and fertility decisions. It demonstrates that neither fertility nor retirement … the retirement age. Finally, the model is simulated in order to study whether the policies devoted to realizing the social …

retirement age. We look at a scenario where an economy has a pay-as-you-go defined benefit scheme and compare it to a scenario …

scheme. We show that when retirement decisions are endogenous, aging increases the retirement age and the steady state level … of capital. The effect on pension payouts is in general ambiguous, except for the solution of full retirement, when this …

Feldstein [1985] posed the questions of what would be the optimal level of retirement benefit, and what would be the …

The introduction of NDC public pension scheme in few European countries, such as Latvia, Sweden, Italy, and Poland, in … with a discontinuous working history in Italy and Sweden suggest that the replacement rates will be low, unless the … retirement age is significantly increased. This effect may end up jeopardizing the political sustainability of these NDC systems …

Retirement policies are individually designed but the majority of people of retirement age live as couples. We estimate …'s unobserved heterogeneity. We conclude that the reform immediately reduced both spouses' retirement probability. The wife …'s retirement probability also drops by 1 to 4 percentage points if the husband is hit by the reform, and vice-versa. Instrumenting …