In May 2001, Germany adopted a fundamental pension reform cutting back public pensions and introducing personal pension …, necessary beyond 2025. As the enacted savings rate target is conservative, individual pensions keep retirement income sufficient … even if returns to pension funds are low due to legal restrictions on savings vehicles. …

In May 2001, Germany adopted a fundamental pension reform cutting back public pensions and introducing personal pension …, necessary beyond 2025. As the enacted savings rate target is conservative, individual pensions keep retirement income sufficient … even if returns to pension funds are low due to legal restrictions on savings vehicles. …

Like in many other OECD countries, the population will age rapidly in Germany during the next decades. This undermines … the demographic transition in Germany. Given the current unfunded pension system, the model first calculates a baseline …

Germany. The analysis is based on an extended overlapping-generations model which accounts for intra …

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 …