Showing 1 - 10 of 175
Using recovery plan data of 213 underfunded Dutch pension funds for the years 2011, 2012 and 2013, discrete choice models are estimated describing pension funds' choices between three recovery measures: higher contributions, no indexation, and pension cuts. The estimation results suggest,...
Persistent link: https://www.econbiz.de/10013001665
system in the Netherlands to calculate net replacement rates at each age from 60 to 70 in full and partial retirement … analyze the implications of late full retirement and partial retirement for the occupational and state pension entitlements …. We pay particular attention to the retirement scenarios that are relevant for the current policy measures, aimed at …
Persistent link: https://www.econbiz.de/10013123970
incentives matter for the retirement behavior of the self-employed. We also provide evidence of the self-employed not wanting to … retire as early as possible, and contrast these expectation data with realized retirement transitions. The overall picture …
Persistent link: https://www.econbiz.de/10014190146
We analyze the political stability of welfare enhancing privatization of the social security. We consider an economy populated by overlapping generations, who vote on abolishing the funded system and replacing it with the pay-as-you-go scheme, i.e. "unprivatizing" the pension system. We show...
Persistent link: https://www.econbiz.de/10012999844
We analyze the outcome of voting over the contribution to a pay-as-you-go (PAYG) pension system in the presence of financial and demographic shocks. The impact of shocks on pension contributions and benefits replicates major developments of pension systems around the world. A decrease in the...
Persistent link: https://www.econbiz.de/10013002540
extensive and intensive labour supply responses to changes in fertility rates, and (ii) the potential of a retirement reform to … fertility decline, a retirement reform, designed to increase labour supply at the extensive margin, is found to simultaneously … reduce labour supply at the intensive margin. This backlash to retirement reform requires the statutory retirement age to …
Persistent link: https://www.econbiz.de/10013136598
Germany recent reforms that aim at raising retirement age and cutting benefit levels should be complemented by increases in …
Persistent link: https://www.econbiz.de/10013127112
In 2007 Germany has introduced a pension reform which increases the normal retirement age from currently age 65 to 67 … effective retirement age by about one year and redistribute towards future cohorts. However, it hardly reduces old-age poverty … since rich people are more flexible in adjusting retirement. Overall, the efficiency gains of the reform are very modest …
Persistent link: https://www.econbiz.de/10013142151
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
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