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Benefit-retirement age schedules and redistribution in public pension systems

Simonovits, András - 2014

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

"Should I pay for you or for myself"? : the optimal level and composition of retirement benefit systems

Praag, Bernard M. S. van; Cardoso, Pedro - 2001

Feldstein [1985] posed the questions of what would be the optimal level of retirement benefit, and what would be the optimal mix between the pay-as-you-go system and the funded pension system under the assumption of an exogenous interest rate. We reconsider the problem with the addition of a...

Persistent link: https://www.econbiz.de/10011339670

Why mandate young borrowers to contribute to their retirement accounts?

Andersen, Torben M.; Bhattacharya, Joydeep - 2017

borrowing more that too at a rate higher than offered by pension savings, their life-time utility increases. …

Persistent link: https://www.econbiz.de/10011688004

Endogenous retirement behavior of heterogeneous households under pension reforms

Börsch-Supan, Axel; Härtl, Klaus; Leite, Duarte; … - 2018 - This draft: 25 April 2018

We propose a unified framework to measure the effects of different reforms of the pension system on retirement ages and macroeconomic indicators in the face of demographic change. A rich overlapping generations (OLG) model is built and endogenous retirement decisions are explicitly modeled...

Persistent link: https://www.econbiz.de/10011891939

The sustainability of the pay-as-you-go system with falling birth rates

Praag, Bernard M. S. van; Cardoso, Pedro - 2002

A model is presented that explains the mix between funded and unfunded pension systems. It turns out that total pension and the relative shares of the two systems may be explained and are determined by the population growth rate, technological growth, the time-preference discount rate, the...

Persistent link: https://www.econbiz.de/10011326408

Should I stay or should I go? : the role of actuarial reduction rates in individual retirement planning in Germany ; conference paper

Kluth, Sebastian - 2014

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

Compliance, informality and contributive pensions

Leroux, Marie-Louise; Maldonado, Darío; Pestieau, Pierre - 2015

down. Depending on the relative returns from public pensions and private savings as well as on the elasticity of compliance … rate is more likely to be positive when the median income is low and when the return from public pensions dominates that of … private savings. The level of the Bismarkian pillar will now be chosen so as to account for increased political support, for …

Persistent link: https://www.econbiz.de/10011405624

A simple model of tax-favored retirement accounts

Simonovits, András - 2009

to each other. -- mandatory pensions ; tax-favored retirement accounts ; voluntary contributions ; subsidies. …

Persistent link: https://www.econbiz.de/10003873064

Regressive intracohort redistribution in nonfinancial defined contribution pension

Simonovits, András - 2013

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

Optimal pensions in aging economies

Heer, Burkhard - 2015

supply decision and 3) accounts for contributions-defined pensions of the US social security system. With these more …

Persistent link: https://www.econbiz.de/10010477151