This paper analyzes behavioral responses to a reform in the German public pension system that allowed individuals with a long contribution history to retire without deductions before reaching the regular retirement age. Following the 2014 reform, individuals with 45 contribution years could...

Providing a decent living standard and preventing old-age poverty are the two major challenges of pension insurance schemes. Replacement rates below the poverty line despite many years of contribution represent a major challenge for public pension schemes with respect to the systems "raison...

China?s pension system is in need of comprehensive reform in that it is fragmented in its coverage and significantly under-funded. Attempts to improve the coverage will likely exacerbate the financial strains. Thus it is urgent to improve the financial sustainability of the system and one policy...

The majority of economies in the European Union are experiencing problems with the sustainability of pension systems that are primarily caused by unfavorable demographic trends and inadequate structure of the pension systems. This research concentrates on the New Member States of the European...

Recent macroeconomic and demographic trends have resulted in new challenges for pension systems. One of these challenges is to create a sustainable pension system while simultaneously providing adequate pension benefits for current and future pensioners. This research explores how similar are...