and an incentive to save more themselves. For this reason, unfunded private pensions differ fundamentally from the … unfunded Social Security pension and the other unfunded federal government civilian and military pensions …

little effect on savings rates. In many countries, however, retirement incentives in social security programs prevent … retirement ages from keeping pace with changes in life expectancy, leading to an increased need for life-cycle savings. Analyzing … a cross-country panel of macroeconomic data, we find that increased longevity raises aggregate savings rates in …

optimal savings and therefore the level of unintended bequests. While those bequests may have no value to the retirees, they …

aggregate saving. Although private pensions are likely to reduce direct saving by employees, this should be offset by the … the growth of private pensions has not had an adverse effect on saving and may have increased saving by a small amount …

Much of the recent discussion about the relation between pensions and inflation has emphasized the adverse impact that … present paper focuses on the way that pensions are likely to evolve in response to the expectation of continued inflation in … total saving that goes into private pensions. Since the tax treatment of pension contributions allows individuals to save in …

benefits on private savings. The Retirement History Survey combines survey evidence on the wealth of couples in their early …