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Opportunities for Improving Pension Wealth Decumulation in the Netherlands
Brown, Jeffrey R. - 2011
retirement wealth, individuals be required to annuitize a minimum amount in a reliably inflationindexed annuity, and that some …
Persistent link: https://www.econbiz.de/10013128760
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Designing the Pension System : Conceptual Framework
Bovenberg, A. Lans - 2011
This paper develops an analytical framework for the design of pension systems, taking the functions of the pension system as the guiding principle. It discusses the economic principles underlying these functions and their implementation in practice. In particular, it distinguishes three...
Persistent link: https://www.econbiz.de/10013120002
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The Future of Multi-Pillar Pension Systems
Bovenberg, A. Lans - 2011
This paper takes stock of the evolution in pension systems and the challenges that remain for the future. It derives a typology of pension systems and uses this to discuss the strengths and weaknesses of alternative systems. After describing how pension systems in the industrial world have been...
Persistent link: https://www.econbiz.de/10013120004
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Rational Pensions for Irrational People : Behavioral Science Lessons for the Netherlands
Bodie, Zvi - 2011
This paper examines some of the main behavioral patterns that determine personal saving, investment, and retirement …
Persistent link: https://www.econbiz.de/10013120112
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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
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Intergenerational Risk Sharing in Time-Consistent Funded Pension Schemes
Westerhout, Ed - 2011
Intergenerational risk sharing by funded pension schemes may increase welfare in an ex ante sense. However, it also suffers from a time inconsistency problem. In particular, young generations may be unwilling to start participating in a pension scheme if this requires them to make huge transfers...
Persistent link: https://www.econbiz.de/10013126863
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Optimal Risk Sharing in a Collective Defined Contribution Pension System
Bams, Dennis - 2016
We analyze a collective defined contribution pension fund which aims at intergenerational risk sharing among different age cohorts using a return smoothing mechanism. Using a utility based framework, we find that approximately one third of unexpected return shocks should be directly passed on to...
Persistent link: https://www.econbiz.de/10012994220
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Economic Growth and Funded Pension Systems
Bijlsma, Michiel - 2014
Growing pension savings lead to deeper capital markets. This can have a positive effect on economic growth by allowing …-time, industry-time and industry-country fixed effects. We find a significant impact of higher level of pension savings on growth in …
Persistent link: https://www.econbiz.de/10013050392
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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
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The Relation between Demography and Economics with Special Reference to the Role of Mandatory Funded and Unfunded Old-Age Pensions
van Praag, B.M.S. - 2012
-pillar,' based on voluntary savings, is relatively minor. Our first main result is that the interest rate in a two-pillar system …
Persistent link: https://www.econbiz.de/10013108978