This paper analyses the distributional effects of the Polish old‐age pension reform introduced in 1999. Following a benchmark Mincer earnings equation, and using a newly developed microsimulation model we project future pension benefits for males born in years 1969‐1979. We find that...

This paper analyses the distributional effects of the Polish old-age pension reform introduced in 1999. Following a benchmark Mincer earnings equation, and using a newly developed microsimulation model we project future pension benefits for males born in years 1969–1979. We find that...

How are notional defined contribution (NDC) pension schemes and fertility correlated? How is the return rate of NDC account determined? This study elucidates the dynamics of the correlations between NDC pension schemes and fertility by considering endogenous labor supply in an imperfect labor...

This paper quantifies the effect of Poland’s 1999 pension reform on the inequality of future pension benefits. The reform increases inequality, both in the upper and in the lower parts of the distribution. The estimates, based on the 2012 Polish Household Budget Survey, show that the Gini...

This article estimates the financial return provided by the Spanish pension system for a sample of new retirees in 2017, calculated on the basis of the Muestra Continua de Vidas Laborales. The findings show an average real annual return (understood as the discount factor that equates the present...

In response to the fiscal challenges posed by population ageing, many governments have raised the normal pension age (NPA). Although the impact of the NPA on retirement behaviors is well documented, little is known about the link between the NPA and other components of pension design. We study...