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-tested public pension? We address this question by estimating a system of asset equations constrained to add up to net worth. We …
Persistent link: https://www.econbiz.de/10013134282
This study argues that the promotion of union goals could have positive, negative, or neutral effects on risk adjusted return performance. Moreover, the union's ability and incentive to use pension assets to promote union goals will vary with the design of the pension. Using panel data on over...
Persistent link: https://www.econbiz.de/10013136725
public pension system by linking pension returns to economic growth; (ii) to reduce the existing distortions in the labor … market, due to the existing strong incentives to retire early, (iii) to increase the intergenerational equity of the system … pension systems under aging through the introduction of a sequence of automatic adjustments in the system that do not require …
Persistent link: https://www.econbiz.de/10013136949
Redistribution is an inevitable feature of collective pension schemes and economic experiments have revealed that most people have a preference for redistribution that is not merely inspired by self-interest. Interestingly, little is known on how these preferences interact with preferences for...
Persistent link: https://www.econbiz.de/10013139713
Using data from three waves of the General Social Survey on retirement and older workers (1994, 2002 and 2007), we document the evolution of retirement patterns over the last three decades. We combined the analysis of retirement ages of actual retirees with data on expected retirement ages of...
Persistent link: https://www.econbiz.de/10013120013
occupational pensions, the two main pillars of the Dutch pension system. Since the summer of 2006, monthly survey data were …
Persistent link: https://www.econbiz.de/10013123606
Across the world, pension systems and their reforms are in a constant state of flux driven by shifting objectives, moving reform needs, and a changing enabling environment. The ongoing worldwide financial crisis and the adjustment to an uncertain “new normal” will make future pension systems...
Persistent link: https://www.econbiz.de/10013099759
This paper shows the effects on a pay-as-you-go pension system of the demographic change in the standard overlapping …
Persistent link: https://www.econbiz.de/10013087869
well as country-specific employment paths are important causes of differences in expected pension levels, but there are … also differences due to the design of pension system and demographic developments. Prolonging working lives and reducing …
Persistent link: https://www.econbiz.de/10012926703
Governments are increasingly concerned about the capacity of pensions systems to meet demands in the coming years. According to the OECD, one part of the policy response in many countries will be greater private provision on the part of individuals through occupational and other pension...
Persistent link: https://www.econbiz.de/10013076158