Sousa, João Brogueira de; Díaz-Saavedra, Julián; … - In: SERIEs : Journal of the Spanish Economic Association 13 (2022) 3, pp. 513-556
the one introduced in Austria in 2003, also known as 'Austrian backpack'-can enhance production efficiency and social … retired. Upon retirement, backpack savings can be converted into an (actuarially fair) retirement pension. To complement the …%. In both economies, the annuity retirement option is an important component of the welfare gains. …