individuals' anxiety about the public pension program's future induces an increase in their private savings …

, the consumption function depends on expected pension benefits and pension risk. I estimate the savings equation implied by … on private saving and the precautionary saving effect due to uncertainty in pension income. Using a lifecycle framework … the model using survey data for Dutch households, with subjective expectations on pension benefits and uncertainty …

savings equation derived from a life cycle model featuring income uncertainty using survey data for Dutch households, with … effect of pensions on private saving and the precautionary saving effect due to uncertainty in pension income. I estimate the … subjective expectations on pension benefits and uncertainty. Exploiting exogenous variation due to pension fund performance, I …

age for women born after 1951 in Germany, we show evidence of a reduction in private savings rate and an increase in …