In 2001, the voluntary additional Riester pension scheme was implemented in Germany. Financial subsidies should incentivize people to increase their private pension savings. In this paper, we hypothesize that these publicly subsidized savings mainly replace existing not subsidized savings and...

Das iff hat im Auftrag des Bundesministeriums der Finanzen (BMF) ein standardisiertes, produktübergreifendes Muster-Produktinformationsblatt für zertifizierte Altersvorsorgeverträge (Riester-Rente) und für zertifizierte Basisrentenverträge entwickelt. Das einheitliche...

The Hungarian Personal Income Tax system is being transformed between 209 and 2013. Tax brackets and the previously existing tax credit is being abolished and this changes the net/gross income ratios in all income categories. This does not only lead to a significant loss in government's income,...

In recent years, the study of how individuals respond to policies that aim at promoting pension savings has emerged as a vital area of economic research. This paper adds to this literature by estimating the tax price elasticity of contributions to tax-favoured pension savings accounts on a...

We have compared the performance of savings plans within the class of difference capital guarantee mechanisms: from the stop loss to classic investments in actuarial reserve funds. CPPI strategies with different leverage factors can be viewed as a compromises between these two extremes. In...

Die derzeitigen Altersvorsorgesysteme stehen durch die demographischen Entwicklungen in den meisten Industrieländern in absehbarer Zukunft vor gravierenden Problemen. Da die staatliche Alterssicherung keine adäquate Versorgung im Alter sicherstellt, muss zusätzlich eine Absicherung durch...