We study the interactions between capital income tax and social security privatization in the context of rising longevity. In an economy with idiosyncratic income shocks, redistributive defined benefit social security provides some insurance against income uncertainty. This insurance comes at...

We investigate the unemployment pathway to retirement in Germany and study the causal effects of two early retirement reforms. Reform 1 (NRA) increased normal retirement age stepwise from 60 to 65. Simultaneously, it became possible to use early retirement with benefit discounts. Reform 2 (ERA)...

Die Grundrente, die zum 1. Januar 2021 in Kraft getreten ist, wurde mit dem Anspruch beworben, Altersarmut zu vermeiden und durch ihr kompliziertes Design besonders zielgenau zu sein. Axel Börsch-Supan und Nicolas Goll untersuchen, ob die Grundrente diesen Anspruch auch tatsächlich erfüllt....

Die künftige Regierung sollte keine weiteren Rentenpakete, die die ohnehin stark anwachsenden Ausgaben für die Alterssicherung auf Dauer weiter nach oben treiben, verabschieden und die Aussetzung des Nachholfaktors und die doppelte Haltelinie nicht über 2025 hinaus verlängern. Für eine...

We study interactions between progressive labor taxation and social security reform. Increasing longevity puts fiscal strain that necessitates the social security reform. The current social security is redistributive, thus providing (at least partial) insurance against idiosyncratic income...

We study the effect of an increase in the UK state pension age from 65 to 66, a high level internationally, on labour market activity. Despite there being limited financial incentives to retire at the state pension age, we find large effects: the employment rate of 65-year-olds increased by 7.4...

Das Rentenniveau wird für zukünftige Rentnergenerationen regelgebunden sinken. Deshalb erfordert eine Absicherung des Lebensstandards im Alter - wie mit den Rentenreformen Anfang der 2000er Jahre eingeleitet - neben der gesetzlichen Rente eine private und betriebliche Vorsorge. Allerdings sind...

The structure of the Polish pension insurance system, despite many reforms carried out in recent years, is still mainly based on the pay-as-you-go (repartition) pillar. To make it work properly, a constant inflow of participants who will pay contributions, thanks to which it will be possible to...

We study how social security influences the retirement behavior of couples. First, we exploit over two decades of full-population data and a discontinuity design to document sizable retirement spillovers to spouses when individuals reach pension eligibility age. Next, we explore underlying...

How does the provision of public pension benefits impact private savings? We answer this question in the context of a reform in Denmark that altered old-age benefit payouts through a discontinuous increase in pension eligibility ages contingent on birthdate. Using detailed administrative data...