Bonenkamp, Jan; Westerhout, Ed - In: Economica 81 (2014) 323, pp. 566-592
type="main" xml:id="ecca12092-abs-0001" <p>Funded defined-benefit pensions add to welfare on account of providing intergenerational risk sharing, but lower it on account of inducing labour supply distortions. We show that a properly designed funded defined-benefit pension scheme involves a welfare...</p>