The Danish labor market follows the trend in other countries of increasing labor force participation in the 60+ group. In Denmark, this increase has - until now - been most pronounced among 60-64-year-olds and among women. Increasing labor force participation is related to both a decline in the...

A model is presented that explains the mix between funded and unfunded pension systems. It turns out that total pension and the relative shares of the two systems may be explained and are determined by the population growth rate, technological growth, the time-preference discount rate, the...

Population aging is typically associated with economic challenges for productivity and financial threats for the old-age financial protection system of a country. This paper takes an optimistic position and outlines key ingredients to make it a successful experience. Yet to turn this challenge...

Conventional pension systems suffer from a design defect which makes them financially unsustainable, and a source of inefficiency for the economy as a whole. The paper outlines a second-best policy which includes a public pension system made up of two parallel schemes, a Bismarckian one allowing...

Die geplante Mütterrente wird bis 2018 den Rentenbeitragssatz um durchschnittlich 0,3 Prozentpunkte erhöhen und das Bruttorentenniveau um durchschnittlich 0,4 Prozentpunkte reduzieren. Da ab 2019 der Bundeszuschuss schrittweise erhöht werden soll, werden die längerfristigen Wirkungen auf...

About 20% of German workers retire on disability pensions. Disability pensions provide fairly generous benefits for those who are not already age-eligible for an old-age pension and who are deemed unable to work for health reasons. In this paper, we use two sets of individual survey data to...

We examine the behaviour of unemployed older workers up to five years prior to the point at which they can transition out of unemployment because they become eligible to receive pension benefits. We use a unique dataset covering the unemployment histories (longitudinal data) of individuals born...

We study the relationship between early claiming of pensions and incentives in the highly flexible Norwegian public pension system, measuring incentives to claim based on an estimated model for expected longevity. Despite a strong correlation between incentives and claiming decisions, the...

Im Bericht werden die Auswirkungen eines zukünftig sinkenden Rentenniveaus auf das Ausmaß der Altersarmut in verschiedenen Szenarien untersucht. Das verfügbare Haushaltseinkommen wird anhand eines Querschnittes von Daten aus dem Jahr 2015 simuliert. Von sonstigen Verhaltensänderungen wird...

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...