The main aim of the study is to identify the size of the pension gap in Poland and to estimate the level of supplementary savings needed to cover it. The issue of pension system income adequacy is first discussed, and the forecasted and targeted levels of replacement rates in Poland are...

This paper focuses on the development of the funded, occupational pension (OP) system in Denmark. Launched in 1987, as a grand agreement between social partners backed by the government, and as part of the collective wage bargaining process, the Danish OP system differs from the set-up in most...

A central justification for social insurance and for other policies aimed at retirement savings is that individuals may fail to make adequate provision during their working years. Much research has focused on myopia and other behavioral limitations. Yet little attention has been devoted to how...

We employ a life-cycle model with income risk to analyze how tax-deferred individual accounts affect households' savings for retirement. We consider voluntary accounts as opposed to mandatory accounts with minimum contribution rates. We contrast add-on accounts with carve-out accounts that...

We analyze the impact of population aging on Japan's household saving rate and on its public pension system and the impact of that system on Japan's household saving rate and obtain the following results: first, the age structure of Japan's population can explain the level of, and past and...

The Treasury has, at times, suggested giving greater consideration to reforms to narrow the Saving-Investment gap. However, there has been less discussion of specific policy options for doing this. This paper helps to fill the gap by asking what policy reforms could help to narrow the...

This paper examines the effect of the last increase in the eligibility age for New Zealand's public pension, New Zealand Superannuation, on household saving rates. The age of eligibility was increased progressively from 60 to 65 years old between 1992 and 2001, with little forewarning. Drawing...

This paper considers the quantitative role of growth in the size of the social security program in contributing to the collapse of personal saving in the U.S. over the last few decades. Using a calibrated, general equilibrium life-cycle model this paper shows that social security may not be to...

This paper considers the quantitative role of growth in the size of the social security program in contributing to the collapse of personal saving in the U.S. over the last few decades. Using a calibrated, general equilibrium life-cycle model this paper shows that social security may not be to...

We analyze the impact of population aging on Japan’s household saving rate and on its public pension system and the impact of that system on Japan’s household saving rate and obtain the following results: first, the age structure of Japan’s population can explain the level of, and past and...