, the public pension system cannot make the happiness level higher comparing to private savings. This paper concludes that …

-age consumption is financed with voluntary savings, even in the presence of a fairly generous public pension system. This is clearly …

Pensions may be provided for in a modern society by several methods, viz., voluntary individual savings, mandatory … individual savings, that the fully funded occupational system is decided upon by the age cohort of the median worker and that … decisions is a Pareto-equilibrium. Nowadays most of capital supply stems from individual and institutionalised pension savings …

-bias-such as hyperbolic discounters who tend to over-consume will be in favor of having a floor imposed on their savings. In this … paper, I show it is quite difficult for the introduction of a savings floor to be Pareto-improving in general equilibrium … individuals. Even in that case, because the equilibrium interest rate is affected by the level of the savings floor, some …

In the presence of means tested basic income for old age, households will tend to reduce precautionary savings to an … representative agent framework with two income types, compulsory savings are found to be Pareto-improving up to a point. Beyond that …

This paper studies the optimal trade-off between commitment and flexibility in an intertemporal consumption/savings … conditions under which the solution takes a simple threshold form where minimum savings policies are optimal. Our analysis is …