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We empirically investigate the distributional consequences of the Riester scheme, the main private pension subsidization program in Germany. We find that 38% of the aggregate subsidy accrues to the top two deciles of the population, but only 7.3% to the bottom two. Nonetheless the Riester scheme...
Persistent link: https://www.econbiz.de/10011281656
This paper provides a two-part empirical analysis on how actuarial reduction rates for early retirement affect current pension payments in Germany and to what extent the existence and the magnitude of these reduction rates influence people s retirement planning. First, by evaluating a large...
Persistent link: https://www.econbiz.de/10010484766
Persistent link: https://www.econbiz.de/10009247730
How can retirement savings be increased? We explore a unique policy change in the context of the German pension system … these letters on the behavior of individuals. We find an increase in tax-deductible private retirement savings and provide … evidence that this is not due to a crowding-out of other forms of savings. We also show that labor earnings, i.e. the most …
Persistent link: https://www.econbiz.de/10011782119
How much retirement income is needed in order to maintain one's living standard at old age? As it is difficult to find a firm basis for an empirical treatment of this question, we employ a novel approach to assessing an adequate replacement rate vis- a-vis income in the pre-retirement period. We...
Persistent link: https://www.econbiz.de/10009766250
Closing the gap between pre-retirement income and retirement income without increasing mandatory social security contributions for the working population has become a policy issue for many countries in the last couple of years. In order to incentivize people to save privately for retirement,...
Persistent link: https://www.econbiz.de/10012936407
How can retirement savings be increased? We explore a unique policy change in the context of the German pension system … these letters on the behavior of individuals. We find an increase in tax-deductible private retirement savings and provide … evidence that this is not due to a crowding-out of other forms of savings. We also show that labor earnings, i.e. the most …
Persistent link: https://www.econbiz.de/10012925277
How can retirement savings be increased? We explore a unique policy change in the context of the German pension system … on private retirement savings. Our results show that the letters increase private retirement savings. The effects are … increase in savings partly crowds out charitable donations. Moreover, we present evidence suggesting that both information and …
Persistent link: https://www.econbiz.de/10012982810
Since 2002 the German government seeks to stimulate private retirement savings by means of special allowances and tax …
Persistent link: https://www.econbiz.de/10003952553
Since 2002 the German government seeks to stimulate private retirement savings by means of special allowances and tax …
Persistent link: https://www.econbiz.de/10003941676