of workers born in 1950 or later. At the same time, a tax-facilitated savings plan was introduced that implied a large … savings subsidy for all workers, irrespective of birth year. This paper uses linked administrative and survey data to assess … the effect of the reform on the savings and retirement expectations and realizations of two virtually identical male …

-generations model, where one country has PAYG pensions and the other country has funded pensions. The paper shows that the PAYG country …

-up. We use an overlapping-generations model with Beveridgean pay-as-you-go pensions, where individuals differ in ability and …

Pensions may be provided for in a modern society by several methods, viz., voluntary individual savings, mandatory … individual savings, that the fully funded occupational system is decided upon by the age cohort of the median worker and that … decisions is a Pareto- equilibrium. Nowadays most of capital supply stems from individual and institutionalised pension savings …