How can retirement savings be increased? We explore a unique policy change in the context of the German pension system to study this question. As of 2005 (with a phase-in period between 2002-04), the German pension administration started to send out annual letters providing detailed and...

Guarantees are often seen as the key characteristics of pension saving products, but securing them can become costly and is of central relevance especially in the course of the current low interest rate environment. In this article, we deal with the question of how costly the typical types of...

The Chilean pension system was hit hard during 2020-2021 by the withdrawal of 25 per cent of the individual pensions funds accumulated by 2019, an amount equivalent to 20 per cent of Chile's GDP. We estimate here the impact of those withdrawals on new pension allowances, using a combination of...