How an Unfunded Pension System looks like Defined Benefits but works like Defined Contributions: The German Pension Reform
This paper describes the German pension reform process 1992-2007 with a stress on a remark-able development: the public pay-as-you-go-financed pension system has almost silently moved from a traditional defined benefit system to a system which works in many respects like a defined contribution system. The paper combines economic with political considerations, hopefully offering a few lessons that are useful also for other countries.
Year of publication: |
2007-07-17
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Authors: | Börsch-Supan, Axel H. ; Reil-Held, Anette ; Wilke, Christina B. |
Institutions: | Munich Center for the Economics of Aging (MEA) at the Max Planck Institute for Social Law and Social Policy |
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