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pension system, where savings are matched by government grants. Accounting for the resulting tax expenditure, our models …
Persistent link: https://www.econbiz.de/10011451322
are not consistent with a simple life cycle explanation for savings. They also raise questions about whether pensions are … and Retirement Study (HRS), and the role of pensions in forming retirement wealth. Pension coverage is widespread … average for this cohort on the verge of retirement. When pensions and social security are included, wealth accumulated by the …
Persistent link: https://www.econbiz.de/10014181830
value of pensions and social security that better reflects the accrual of benefits under defined contribution plans. Such …
Persistent link: https://www.econbiz.de/10012786844
The dependence of benefit on the retirement age (the schedule) is an important feature in any public pension system. The nonfinancial defined contribution (NDC) pension system has recently become popular mainly because of its allegedly actuarial fairness. Using the framework of mechanism design...
Persistent link: https://www.econbiz.de/10010429132
to each other. -- mandatory pensions ; tax-favored retirement accounts ; voluntary contributions ; subsidies. …
Persistent link: https://www.econbiz.de/10003873064
Nonfinancial defined contribution (NDC) pension systems have recently become popular because they provide the strong incentives of the private funded systems without requiring a difficult transition period. Using the framework of mechanism design, these systems have theoretically been criticized...
Persistent link: https://www.econbiz.de/10009732103
This paper analyzes the interconnections of underreported earnings, savings and oldage pension with the help of a most … ; proportional pensions ; basic pensions ; meansassisted pensions …
Persistent link: https://www.econbiz.de/10003740020
Together, pensions, social security and health insurance account for half of the wealth held by all households in the …
Persistent link: https://www.econbiz.de/10014043164
The President's Commission to Strengthen Social Security has proposed a number of changes in Social Security, each of them introducing personal accounts funded from a portion of payroll tax receipts, and in one case, out of additional contributions. These changes are presented in the form of...
Persistent link: https://www.econbiz.de/10014028129
This paper considers two characteristics of a public pension system: the contribution rate and the lenght of employment. A simple family of optimization models is set up, where the instantaneous utility is a Cobb-Douglas-function of consumption and leisure, futhermore, the life-time utility is a...
Persistent link: https://www.econbiz.de/10014132558