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The Crowding-Out Effect of Mandatory Labour Market Pension Schemes on Private Savings : Evidence from Renters in Denmark

Arnberg, Soren; Barslund, Mikkel - 2013

total household savings for renters. The effect is identified via a large panel of individual administrative records …. We find little substitutability between current mandatory labour market pension savings and private voluntary savings …. Each euro paid into mandatory labour market pension accounts results in a reduction in private savings of approximately 0 …

Persistent link: https://www.econbiz.de/10014151619

Reform and Backlash to Reform : Effects of Ageing and Retirement Policy

Hougaard Jensen, Svend E. - 2010

Using a stochastic general equilibrium model with overlapping generations, this paper studies (i) the effects on both extensive and intensive labour supply responses to changes in fertility rates, and (ii) the potential of a retirement reform to mitigate the effects of fertility changes on...

Persistent link: https://www.econbiz.de/10013136598

The Consequences of Indexed Debt for Welfare and Funding Ratios in the Dutch Pension System

Beetsma, Roel M. W. J.; Bucciol, Alessandro - 2011

Using a model of a two-pillar pension system, designed after and calibrated to the Dutch situation, we explore for the funding ratio of pension funds and the welfare of individuals the implications of replacing nominal debt in the pension fund's portfolio with indexed debt. We consider...

Persistent link: https://www.econbiz.de/10014183817

Consequences for Welfare and Pension Buffers of Alternative Methods of Discounting Future Pensions

Bucciol, Alessandro - 2010

We explore the implications of alternative methods of discounting future pension outlays for the valuation of funded pension liabilities. Measured liabilities affect the asset-liability ratio of pension funds and, thereby, their policies. Our framework for analysis is an applied many-generation...

Persistent link: https://www.econbiz.de/10013136102

Retirement as a Hedge

Pestieau, Pierre - 2010

This paper explores the effect of letting individuals choose their retirement age in a world of uncertainty where there exist both defined benefit (DB) and defined contribution (DC) pension plans. The paper shows that giving individuals the flexibility to determine when to retire is an important...

Persistent link: https://www.econbiz.de/10013136114

When the State Mirrors the Family : The Design of Pension Systems

Galasso, Vincenzo - 2010

the world: the public pension system. We first build a simple OLG model which predicts that, when pensions systems are … introduced, in society with weak family ties they act as a safety net, while in societies with strong ties pensions replicate the …

Persistent link: https://www.econbiz.de/10013139604

Risk Sharing in Defined-Contribution Funded Pension System

Beetsma, Roel M. W. J. - 2011

This paper explores the introduction of collective risk-sharing elements in defined contribution pension contracts. We consider status-contingent, age-contingent and asset contingent risk-sharing arrangements. All arrangements raise aggregate welfare, as measured by equivalent variations. While...

Persistent link: https://www.econbiz.de/10013117291

Actuarial Fairness When Longevity Increases : An Evaluation of the Italian Pension System

Belloni, Michele - 2011

In this study, we analyse the actuarial features of the Italian pension system after the 1995 reform. We consider both the old defined benefit, the pro-rata and the new notional defined contribution pension rules applied to private sector employees born between 1945 and 2000. In the...

Persistent link: https://www.econbiz.de/10013117345

Longevity, Annuities and the Political Support for Public Pensions

Cremer, Helmuth - 2011

We develop a model where individuals differ in productivity and in longevity. Benefits from the public pay-as-you-go pension system take the form of a collective annuity, with both a contributive (Bismarckian) component (based on the worker's past earnings) and a flat (Beveridgean) part. Voters...

Persistent link: https://www.econbiz.de/10013122325

Implications of Full and Partial Retirement for Replacement Rates in a Defined Benefit System

Kantarci, Tunga - 2011

In this paper we use the actual rules and formulas of an occupational pension fund, the state pension fund and the tax system in the Netherlands to calculate net replacement rates at each age from 60 to 70 in full and partial retirement scenarios. We then vary the parameters of the pension...

Persistent link: https://www.econbiz.de/10013123970